{
  "title": "Australia: Basel Core Principles for Effective Banking Supervision—Detailed Assessment of Observance",
  "publication": "IMF Staff Country Reports, November 21, 2012",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/australia-basel-core-principles-for-effective-banking-supervision-detailed-assessment-of-40115",
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  "summary": "Australia has a very high level of compliance with the Basel Core Principles for Effective Banking Supervision (BCPs). The Australian banking system was more sheltered than a number of other countries and weathered the Global Financial Crisis relatively well.",
  "sections": [
    {
      "heading": "Summary findings",
      "content": "- Australia has a very high level of compliance with the Basel Core Principles for Effective Banking Supervision (BCPs).\n- The Australian banking system was more sheltered than a number of other countries and weathered the Global Financial Crisis relatively well.\n- Contributing factors cited:\n  - Relative concentration of the system on a well performing domestic economy.\n  - A well-developed regulatory and supervisory structure."
    },
    {
      "heading": "Notable strengths",
      "content": "- Strong risk analysis within the supervisory approach.\n- Clear focus on the responsibility of the Board."
    },
    {
      "heading": "Vulnerabilities and risks",
      "content": "- The Australian banking system remains vulnerable to continuing aftershocks of the financial crisis.\n- Specific vulnerability noted: banks’ funding profiles could be a conduit of instability."
    },
    {
      "heading": "Thematic coverage (subjects and keywords)",
      "content": "- Subjects: Banking; Capital adequacy requirements; Credit risk; Financial regulation and supervision; Liquidity risk; Market risk; Operational risk.\n- Keywords: banking groups; business plan; Capital adequacy requirements; capital base; capital ratio; country risk; CR; credit risk; Credit risk; Global; interest rate; internal audit; ISCR; Liquidity risk; Market risk; Operational risk; risk management; risk profile; senior management; state bank.\n\n---\n\n Content in this bundle\n\n- cr12313 - Summary Compliance with the Basel Core Principles—Detailed Assessments\n  - cr12313 - Summary Compliance with the Basel Core Principles—Detailed Assessments (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr12313 - Summary Compliance with the Basel Core Principles—Detailed Assessments (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: November 21, 2012",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475540093.002",
    "Australia has a very high level of compliance with the Basel Core Principles for Effective Banking Supervision (BCPs).",
    "The Australian banking system was more sheltered than a number of other countries and weathered the Global Financial Crisis relatively well.",
    "Contributing factors cited:",
    "Strong risk analysis within the supervisory approach.",
    "Clear focus on the responsibility of the Board.",
    "The Australian banking system remains vulnerable to continuing aftershocks of the financial crisis.",
    "Specific vulnerability noted: banks’ funding profiles could be a conduit of instability.",
    "Subjects: Banking; Capital adequacy requirements; Credit risk; Financial regulation and supervision; Liquidity risk; Market risk; Operational risk.",
    "Keywords: banking groups; business plan; Capital adequacy requirements; capital base; capital ratio; country risk; CR; credit risk; Credit risk; Global; interest rate; internal audit; ISCR; Liquidity risk; Market risk; Operational risk; risk management; risk profile; senior management; state bank.",
    "**_cr12313 - Summary Compliance with the Basel Core Principles—Detailed Assessments**"
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