Rockford Files: Australian banking crisis is a major political issue

Updated March 02, 2018 09:53:51The Government is facing a political headache when it comes to the Rockford files, which contain details of the bank’s collapse.

The files have been widely available since they were released last month, prompting the Labor Opposition to question the timing of releasing them.

The Government has argued the files were part of an ongoing inquiry into how the banks collapsed and is seeking to hold the Labor Party to account over its handling of the matter.

“The Government will continue to make representations to the Government on the matter, as will the Auditor-General,” a spokesperson for Treasurer Josh Frydenberg said in a statement.

“This will include further briefing to the Senate on the issues raised in the files.”

What we know about the Rockfords’ collapse, in pictures 1:19 The Opposition has also demanded the Government publish the bank account details of people it believes were personally responsible for the collapse.

“As a result of the release of the Rockfort files, the Government is now required to disclose information relating to the personal financial affairs of a number of former senior management personnel, and to the extent that these are available, they will be disclosed to the full Senate,” a statement from the Opposition said.

Mr Frydenbenders spokesman said the Opposition was concerned the information would reveal details of how the Rockforts had been managed, including how much money was kept in the accounts, and how much it was worth.

“We expect that these matters will be examined by the Government,” he said.

The Rockfort file, which was released last week, contained details of a major investigation into the bank, including allegations the bank was run by former NSW Premier Mike Baird and his chief of staff and that Mr Baird had ordered the bank to close.

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