Australia: Basel Core Principles for Effective Banking Supervision—Detailed Assessment of Observance

International Monetary Fund

No 2012/313, IMF Staff Country Reports from International Monetary Fund

Abstract: 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. This was in part due to relative concentration of the system on a well performing domestic economy, but also due to a material contribution from a well-developed regulatory and supervisory structure. Notable strengths of the Australian supervisory approach rest in its strong risk analysis and on the focus of the responsibility of the Board. The Australian banking system however, is still vulnerable to continuing aftershocks of the financial crisis not least as banks? funding profiles could be a conduit of instability.

Keywords: ISCR; CR; risk management; senior management; state bank; business plan; risk profile; credit risk; capital base; internal audit; interest rate; banking groups; capital ratio; country risk; Credit risk; Market risk; Operational risk; Capital adequacy requirements; Liquidity risk; Global (search for similar items in EconPapers)
Pages: 157
Date: 2012-11-21
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