Australia: Financial System Stability Assessment
IMF Staff Country Reports, February 21, 2019
Source details
- Canonical URL
- Australia: Financial System Stability Assessment
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Bibliographic details
- Published: February 21, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484398999.002
Summary findings
- Financial supervision and systemic risk oversight have been enhanced.
- Authorities have taken successful policy action to calm rapid growth in riskier segments of the mortgage market.
- Restrictions on the growth of investor loans and the share of interest-only mortgages, and the introduction of stronger lending standards, appear to have led to a slowdown in mortgage credit growth, and the housing market is now cooling.
- Financial supervision shows generally high conformity to international best practices, although there are opportunities to close identified gaps and strengthen arrangements.
- Greater formalization and transparency of the work of the Council of Financial Regulators would further buttress the financial stability framework.
Policy recommendations and institutional measures
- Bolster the independence and resourcing of the regulatory agencies by:
- Removing constraints on their policy making powers.
- Providing additional budgetary autonomy and flexibility.
- Close identified gaps in supervisory arrangements to strengthen conformity with international best practices.
- Formalize and increase transparency of the Council of Financial Regulators’ work to reinforce the financial stability framework.
Key statistics and publication metadata
- Publication date: February 21, 2019
- Pages: 83
- Volume: 2019
- Issue: 054
- Series: Country Report No. 2019/054
- DOI: https://doi.org/10.5089/9781484398999.002
- Stock No: 1AUSEA2019007
- ISBN: 9781484398999
- ISSN: 1934-7685
Subjects and keywords
- Subject: Bank credit, Banking, Credit, Financial regulation and supervision, Financial sector policy and analysis, Financial sector stability, Housing prices, Money, Mortgages, Prices, Systemic risk
- Keywords: asset quality, bank exposure, banking sector, capital requirement, CR, Credit, financial condition, Financial sector stability, financial system, Global, housing market, Housing prices, ISCR, loan portfolio, mid-sized bank, monetary policy, resolution modality, Systemic risk
International Monetary Fund. Monetary and Capital Markets Department "Australia: Financial System Stability Assessment", IMF Staff Country Reports 2019, 054 (2019), accessed 9/10/2026, https://doi.org/10.5089/9781484398999.002
Content in this bundle
- Australia: Financial System Stability Assessment; IMF Country Report No. 19/54; January 18, 2019