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Assessing Full Employment in Australia

18 Apr 2024 Bulletin – April 2024

Alexander Ballantyne, Avish Sharma and Tim Taylor

Full employment is a longstanding objective of monetary policy in Australia, alongside price stability.

https://www.rba.gov.au/publications/bulletin/2024/apr/assessing-full-employment-in-australia.html

Assessing Physical Climate Risk in Repo-eligible Residential Mortgage-backed Securities

18 Apr 2024 Bulletin – April 2024

Ronan McCarthy and Geordie Reid

This article assesses physical climate risk in Australian residential mortgage-backed securities (RMBS) using two risk metrics.

https://www.rba.gov.au/publications/bulletin/2024/apr/assessing-physical-climate-risk-in-repo-eligible-residential-mortgage-backed-securities.html

The Effect of Least-cost Routing on Merchant Payment Costs

18 Apr 2024 Bulletin – April 2024

Boston Dobie and Benjamin Watson

The RBA supports all merchants being able to choose the card network used to process debit transactions – a functionality known as least-cost routing (LCR) – with the aim of increasing competition and reducing the cost of accepting card payments.

https://www.rba.gov.au/publications/bulletin/2024/apr/the-effect-of-least-cost-routing-on-merchant-payment-costs.html

Financial Stability Risks from Non-bank Financial Intermediation in Australia

18 Apr 2024 Bulletin – April 2024

Marcus Robinson and Stefano Tornielli di Crestvolant

Risks to financial stability posed by the non-bank financial intermediation (NBFI) sector in Australia remain relatively contained.

https://www.rba.gov.au/publications/bulletin/2024/apr/financial-stability-risks-from-non-bank-financial-intermediation-in-australia.html

Cash Rate Pass-through to Outstanding Mortgage Rates

18 Apr 2024 Bulletin – April 2024

Benjamin Ung

The interest rate paid by outstanding mortgage borrowers increased by around 320 basis points between May 2022 and December 2023, around 105 basis points less than the cumulative increase in the cash rate over this period.

https://www.rba.gov.au/publications/bulletin/2024/apr/cash-rate-pass-through-to-outstanding-mortgage-rates.html

Bank Funding and the Recent Tightening of Monetary Policy

18 Apr 2024 Bulletin – April 2024

Venura De Zoysa, Jessica Dunphy and Christopher Schwartz

Banks’ funding costs have risen substantially since early 2022, driven by increases in the cash rate.

https://www.rba.gov.au/publications/bulletin/2024/apr/bank-funding-and-the-recent-tightening-of-monetary-policy.html

Migration to Public Cloud: Risks and Regulatory Requirements for Clearing and Settlement Facilities

18 Apr 2024 Bulletin – April 2024

Oscar Douglas, Elizabeth Kandelas and Ed Orum

Public cloud technologies are increasingly being adopted by firms in the financial industry, including clearing and settlement facilities (CS facilities).

https://www.rba.gov.au/publications/bulletin/2024/apr/migration-to-public-cloud-risks-and-regulatory-requirements-for-clearing-and-settlement-facilities.html