RBA's new Governor Lowe: Need to move beyond a focus on credit only
|Reserve Bank of Australia Deputy Governor Philip Lowe, who will become the new Governor on Sept 12, replacing Stevens, is crossing the wires, in a speech at a conference on global financial cycles and systemic risk, noting that Australia needs to move beyond a focus on credit only.
Headlines
A strengthening of supervision is at least as important as are the post-crisis regulatory reforms
Rigorous, inquiring supervision that takes a holistic view of the environment is essential to maintaining financial stability and good outcomes for consumers
There are still considerable challenges in developing recovery and resolution plans for the largest global financial institutions
Need to move beyond a focus on credit only
More useful to start with the question: are balance sheets in the economy being strengthened or weakened?
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