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RBA Glossary definition for central bank

central bank – A non-commercial bank, which may or may not be independent of government, which has some or all of the following functions: conduct monetary policy; oversee the stability of the financial system; issue currency notes; act as banker to the government; supervise financial institutions and regulate payments systems.

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Introduction

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
We also employ many of the features included in other central banks' stress testing models, tailored to the characteristics of Australian banks. ... Section 7 provides some avenues for future development. Footnote. These include the Bank of England's
https://www.rba.gov.au/publications/rdp/2022/2022-03/introduction.html

Macrofinancial Stress Testing on Australian Banks

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
Regulatory stress tests enable supervisors and central bankers to assess how bank capital ratios might evolve in response to certain economic scenarios. ... We also employ many of the features included in other central banks' stress testing models,
https://www.rba.gov.au/publications/rdp/2022/2022-03/full.html

Contagion Modelling and Feedback Loops

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
One is that there can be stigma associated with seeking emergency liquidity assistance from central banks, as evident in the reluctance of US banks to seek assistance from the US Federal ... of central bank reserves, besides the RBA) would be in a
https://www.rba.gov.au/publications/rdp/2022/2022-03/contagion-modelling-and-feedback-loops.html

Future Work

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
Doing so would allow the modeller to produce results that show a range of forecast outcomes, rather than a single central estimate, which better reflects how model results should be interpreted. ... Reserve Bank of Australia, 2001–2024. All rights
https://www.rba.gov.au/publications/rdp/2022/2022-03/future-work.html

How the Model Was Used during COVID-19

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
b) Represents the maximum and minimum capital ratios for the banks in the stress testing model. ... prices are internally consistent), until the model finds a scenario that hits the pre-specified capital ratio (for either one bank or the average of all
https://www.rba.gov.au/publications/rdp/2022/2022-03/how-the-model-was-used-during-covid-19.html