Australia: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Regulation, Securities Regulation, and Payment Systems
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Summary:
The Australian banking system, which holds approximately half of total financial systems assets, and is dominated by four major banks, is sound with high earnings, high asset growth, and low levels of problem assets. Stress tests did not reveal near-term stability concerns, suggesting the banking system is likely to be resilient to adverse shocks. Australia’s financial supervisory structure of prudential authority and market conduct authority is sound overall. The medium-term challenges facing the banking sector are opportunities for growth and pressure on profitability.
Series:
Country Report No. 2006/372
Subject:
Anti-money laundering and combating the financing of terrorism (AML/CFT) Banking Crime Financial institutions Financial regulation and supervision Financial services Insurance Insurance companies Stress testing
English
Publication Date:
October 23, 2006
ISBN/ISSN:
9781451802092/1934-7685
Stock No:
1AUSEA2006001
Pages:
60
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