Reserve Bank of Australia Financial Stability Review

Written March 26, 2009 at 12:20 AM EST by  

RBA Financial Stability Review: Banking system weathered financial crisis better than others, face tougher environment than in many years as problem loans rise

- Banking system remains soundly capitalized; Bad assets set at 0.5% of FY09 total assets
- Debt guarantees helped boost banking balance sheets; Banks offering credit at accommodating terms
- Housing credit still expanding
- Further softness in housing market still possible, but sector is not as vulnerable as in other economies
- Note: RBA’s Stability Review is published on a semi-annual basis

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