Australia : Financial Sector Assessment Program-Technical Note-Bank Resolution and Crisis Management

Author/Editor:

International Monetary Fund. Monetary and Capital Markets Department

Publication Date:

February 21, 2019

Electronic Access:

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Summary:

The Australian banking sector continues to be highly concentrated and dominated by four large banks, which together hold approximately 77 percent of total banking assets. The financial sector in Australia is dominated by 83 commercial banks (59 percent of financial assets) and pension funds (27 percent), with total financial sectors assets of about 400 percent of GDP. The four largest banks, with largely similar business models, have been designated as domestic systemically important banks (D-SIBs) in Australia. While their pricing power has helped to sustain strong profitability, their size implies that, in the event of their failure, the impact on the financial system and the economy as a whole would be potentially enormous.

Series:

Country Report No. 19/48

Subject:

English

Publication Date:

February 21, 2019

ISBN/ISSN:

9781484398845/1934-7685

Stock No:

1AUSEA2019001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

33

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