The Reserve Bank of Australia (RBA) has assured the public that Australian banks are in a solid position despite the high-profile collapses of several global banking organisations lately.
Addressing representatives of financial institutions across Australia during a debt capital market summit in Sydney, RBA assistant governor Christopher Kent said that while Australian financial markets still experienced volatility due to recent events, they were still functioning.
“And, most importantly, Australian banks are unquestionably strong—the banks’ capital and liquidity positions are well above the Australian Prudential Regulation Authority’s regulatory requirements,” he said.
“Banks are already well advanced on their bond issuance plans for the year and could defer their bond issuance for a while….