IMF report praises Australian preparedness for Basel II
The IMF has released its September Financial System Stability Analysis on the Australian financial sector, and commends the country’s progress on Basel II.
Australian banks and regulatory authority have made “good progress” in the implementation of Basel II, said the Financial System Stability Analysis released today by the International Monetary Fund (IMF).
“Australia has a high overall level of compliance with the Core Principles,” said the report, though it suggested that further work could be done to standardise supervisory teams and provide further guidance to supervisory staff, the IMF said of the Australian Prudential Regulatory Authority
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