Australia: Financial Safety Net and Crisis Management Framework

Australia: Financial Safety Net and Crisis Management Framework—Technical Note

November 21, 2012

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Format: Chicago

Australia: Financial Safety Net and Crisis Management Framework—Technical Note, (USA: International Monetary Fund, 2012) accessed September 19, 2024

Summary

Australia has a history of few bank failures, even fewer financial crises, and its banking sector emerged from the global financial crisis relatively well.1 With an eye toward international developments, the Australian authorities have taken commendable steps to strengthen the financial safety net and crisis management framework over the last several years. The Government’s well-coordinated response to the global financial crisis included adopting significant legislative changes in October 2008 to put in place guarantee arrangements for retail deposits, among other enhancements to the financial safety net and crisis management framework. Further improvements were made in June 2010 and the Government is currently pursuing additional legislative changes.

Subject: Banking, Commercial banks, Crisis management, Crisis management framework, Crisis resolution, Deposit insurance, Financial crises, Financial institutions, Financial sector policy and analysis, Financial sector stability

Keywords: Acquiring ADI, ADI capitalization, ADI management, ADI resolution issue, Application to the court, Commercial banks, CR, Crisis management, Crisis management framework, Crisis resolution, Customer account liability, Data processing system, Directions power, Financial crisis, Financial sector stability, Financial support, Global, Holding company, ISCR, Problem ADI, Resolution planning

Publication Details

Pages:

46
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/310
Stock No:

1AUSEA2012004
ISBN:

9781475587319
ISSN:

1934-7685

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