Oct
19
Australia to Take Steps to Strengthen Banks’ Capital Levels
By-
Government releases response to Financial System Inquiry
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Treasurer says sector faces `potential vulnerabilities’
Australia’s banking regulator will take additional steps by the end of 2016 to ensure the nation’s lenders have strong capital levels, the government said Tuesday in its response to the Financial System Inquiry.
The sector has “potential vulnerabilities” due to banks’ reliance on offshore funding and mortgages and thus needs stronger regulation than other comparable economies, Treasurer Scott Morrison said in a report released by Treasury. The content and timing of regulatory changes will take into account developments in the local economy and in international regulations…
Australia to Take Steps to Strengthen Banks’ Capital Levels
