Australia : : Financial Safety Net and Crisis Management Framework—Technical Note

• Record Nr.: UNINA9910810607203321
• Pubbl/distr/stampa: Washington, D.C. : , : International Monetary Fund, , 2012
• ISBN: 1-4755-8232-3; 1-4755-6305-1; 1-283-94778-1
• Edizione: [1st ed.]
• Descrizione fisica: 1 online resource (48 p.)
• Collana: IMF Staff Country Reports; IMF country report ; ; no. 12/310
• Disciplina: 332
• Soggetti: Crisis management - Australia; Banks and banking - Australia; Banks and Banking; Finance: General; Financial Risk Management; Banks; Depository Institutions; Micro Finance Institutions; Mortgages; General Financial Markets: Government Policy and Regulation; Financial Institutions and Services: Government Policy and Regulation; Crisis Management; Banking; Economic & financial crises & disasters; Finance; Commercial banks; Financial sector stability; Deposit insurance; Crisis management; Financial crises; Financial institutions; Crisis resolution; Financial sector policy and analysis; Crisis management framework; Banks and banking; Financial services industry; Australia
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: "November 2012."; At head of title : Financial Sector Assessment Program update.
• Nota di contenuto: Cover; Contents; Glossary; I. Executive Summary; Table; 1. Summary of Recommendations; II. Introduction; III. Institutional Arrangements, Coordination, and Preparedness; A. Domestic Inter-Agency Coordination and Information Sharing; B. Cross-Border Coordination and Information Sharing; C. Crisis Preparedness; IV. Early Intervention of Problem ADIs; A. Liquidity Assistance; B. Corrective Measures for Problem ADIs; V. Resolution of Non-Systemic ADIs; Box; 1. Examples of APRA's Directions Powers; A. Resolution Under Private Control; B. Statutory Management; C. Winding-Up; D. The Financial Claims SchemeVI. Crisis Management and Resolution of Systemically Important Banks; A. Developing Credible Contingency Plans; B. Private Sector Involvement/Burden Sharing; C. Official Financial Support; VII. Cross-Border Resolution and Crisis Management; Annexes; I. Status of Recommendations from the 2006 FSAP; II. Challenges to Decisions Taken by APRA; III. An Informal Comparison of Australia's FCS to the Deposit Insurance Core Principles; IV. United Kingdom and United States-Summary of RRP Requirements
• Sommario/riassunto: Australia has a history of few bank failures, even fewer financial crises, and its banking sector emerged from the global financial crisis relatively well.1 With an eye toward international developments, the Australian authorities have taken commendable steps to strengthen the financial safety net and crisis management framework over the last several years. The Government’s well-coordinated response to the global financial crisis included adopting significant legislative changes in October 2008 to put in place guarantee arrangements for retail deposits, among other enhancements to the financial safety net and crisis management framework. Further improvements were made in June 2010 and the Government is currently pursuing additional legislative changes.