G20 Financial Regulatory Reforms and Australia

Carl Schwartz
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Carl Schwartz: Reserve Bank of Australia

RBA Bulletin (Print copy discontinued), 2013, 77-86

Abstract: The global financial crisis prompted a comprehensive international regulatory response, directed through the Group of Twenty (G20). The Reserve Bank and other Council of Financial Regulators (CFR) agencies have been heavily involved in the reform process, including engaging with international bodies on policy development, and implementing agreed reforms domestically. While the reforms have achieved a great deal, the Bank and other CFR agencies are mindful that the pace and volume of change are challenging for the financial system and regulators, and raise the potential for unintended consequences. Five years after the peak of the crisis, and with substantial policy development completed, there is an opportunity to focus the financial regulatory agenda on implementing reforms already agreed, with a close eye on their effectiveness.

Keywords: financial reform; financial stability board; FSB; G20; financial regulation; Australia; Council of Financial Regulators; policy; crisis; Basel III; OTC derivatives; too big to fail; shadow banking (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (2)

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