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

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  • 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.

Suggested Citation

  • International Monetary Fund, 2012. "Australia: Basel Core Principles for Effective Banking Supervision—Detailed Assessment of Observance," IMF Staff Country Reports 2012/313, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2012/313
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    Cited by:

    1. Cummings, James R. & Durrani, Kassim J., 2016. "Effect of the Basel Accord capital requirements on the loan-loss provisioning practices of Australian banks," Journal of Banking & Finance, Elsevier, vol. 67(C), pages 23-36.

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