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
October 23, 2006
Download PDF
More Formats on IMF eLibrary
Order a Print CopySummary
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.
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
Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), banking system, central bank, CFT regime, commonwealth authorities, CR, credit risk, financial system, Global, government intervention, Insurance, Insurance companies, ISCR, legal power, market share, mortgage portfolio, private sector
Pages:
60
Volume:
2006
DOI:
Issue:
372
Series:
Country Report No. 2006/372
Stock No:
1AUSEA2006001
ISBN:
9781451802092
ISSN:
1934-7685
