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RBA Glossary definition for systemic stability
systemic stability – The Reserve Bank of Australia has a general and longstanding responsibility for safeguarding the stability of the Australian financial system. In broad terms, financial system stability equates to smoothly functioning financial markets and the absence of financial disturbances that may threaten the health of the economy more broadly. The RBA can use its balance sheet to support a sound financial institution facing liquidity difficulties, should system stability be at risk.
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References
20 Jan 2021
RDP
2021-01
Oster E (2019), ‘Unobservable Selection and Coefficient Stability: Theory and Evidence’, Journal of Business & Economic Statistics, 37(2), pp 187–204. ... Rochet J-C and J Tirole (1996), ‘Interbank Lending and Systemic Risk’, Journal of Money,
https://www.rba.gov.au/publications/rdp/2021/2021-01/references.html
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How Risky is Australian Household Debt?
25 Aug 2020
RDP
2020-05
In Australia, and other countries with relatively high household indebtedness, this is consistently cited as a key risk to financial and macroeconomic stability. ... These concerns are based on very clear evidence that ‘excessive’ levels of household
https://www.rba.gov.au/publications/rdp/2020/2020-05/full.html
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The Role of Collateral in Borrowing
14 Jan 2021
RDP
PDF
1784KB
The Role of Collateral in Borrowing. Nicholas Garvin, David W Hughes and José-Luis Peydró. Research Discussion Paper. R D P 2021- 01. Figures in this publication were generated using Mathematica. ISSN 1448-5109 (Online). The Discussion Paper
https://www.rba.gov.au/publications/rdp/2021/pdf/rdp2021-01.pdf
China’s Evolving Monetary Policy Framework in International Context
4 Dec 2019
RDP
PDF
1923KB
than in advanced economies. One possible explanation for China achieving price stability is as. ... price stability at the expense of all other considerations. Among the advanced economy central banks.
https://www.rba.gov.au/publications/rdp/2019/pdf/rdp2019-11.pdf
Introduction
31 May 1999
RDP
1999-05
RDP 1999-05: Trends in the Australian Banking System: Implications for Financial System Stability and Monetary Policy 1. ... This paper draws out the implications of these developments for the stability of the financial system, and for policy.
https://www.rba.gov.au/publications/rdp/1999/1999-05/introduction.html
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Promoting Liquidity: Why and How?
2 Dec 2009
RDP
PDF
484KB
The broad question that this paper examines is how public policy should best address this market failure, particularly in situations in which there is a potential threat to the stability of ... According to this view, overall social welfare can be
https://www.rba.gov.au/publications/rdp/2008/pdf/rdp2008-06.pdf
Asset Prices, Credit Growth, Monetary and Other Policies: An Australian Case Study
14 Sep 2010
RDP
PDF
296KB
mix of policies that is likely to be effective in maintaining stability of the macroeconomy. ... institutions to systemic risks (Bank of England 2009, Squam Lake Working Group on Financial Regulation 2009 and Caruana 2010).
https://www.rba.gov.au/publications/rdp/2010/pdf/rdp2010-06.pdf
Payment System Design and Participant Operational Disruptions
28 Jan 2015
RDP
PDF
578KB
Such hybrid features have the potential to mitigate the systemic effect of participants’ operational disruptions. ... Another measure of the systemic impact is the simulator’s settlement delay indicator.
https://www.rba.gov.au/publications/rdp/2012/pdf/rdp2012-05.pdf
References
9 Oct 2019
RDP
2019-10
Cassola N and F Koulischer (2019), ‘The Collateral Channel of Open Market Operations’, Journal of Financial Stability, 41, pp 73–90. ... Stein JC (2012), ‘Monetary Policy as Financial Stability Regulation’, The Quarterly Journal of Economics,
https://www.rba.gov.au/publications/rdp/2019/2019-10/references.html
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Central Counterparty Loss Allocation and Transmission of Financial Stress
16 Mar 2015
RDP
PDF
1285KB
This paper looks more closely at the implications of these reforms for the stability of the financial network. ... JEL Classification Numbers: E42, G17, G230 Keywords: clearing, netting, financial stability, central counterparty, derivatives,.
https://www.rba.gov.au/publications/rdp/2015/pdf/rdp2015-02.pdf