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Council Of Financial Regulators – Failure and Crisis Management in the Australian Financial System

Date:

Friday, 25 November 2005

Content ID:

1040

Abstract:

The Council of Financial Regulators has conducted a review of failure and crisis management arrangements in the Australian financial system and has endorsed many of the arrangements currently in place for dealing with distressed financial institutions.

The Council has also recommended that the Government consider introducing a financial claims compensation scheme to enhance current arrangements. The scheme would provide retail depositors in a failed authorised deposit-taking institution immediate access to at least some of their funds and would provide some protection to retail policyholders in insurance companies.

For further information on the consultation process please contact:

Assistant Governor (Financial System)
Reserve Bank of Australia
GPO Box 3947
SYDNEY NSW 2001

Phone: 02 9551 8510

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Council Of Financial Regulators – Failure and Crisis Management in the Australian Financial System   100.99kb

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Related Items:

Press Release No. 9 2005 – Council of Financial Regulators – Financial Claims Compensation Scheme - 25/11/2005
This media release details information about the reported recommendation of the Council of Financial Regulators that the Government consider introducing a financial claims compensation scheme in the Australian financial sector.

Treasury Portfolio Ministers - Link to website MoreSuper  - Link to website Carbon Price Modelling - Link to Website Clean Energy Future  - Link to website Review of compensation arrangements for consumers of financial services - Consultation Paper  - Link to website

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