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RBA Glossary definition for financial sector

financial sector – The sector of the economy that comprises financial institutions and financial markets.

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Australia's Experience with Financial Reform

31 Dec 2014 RDP 2014-10
Alexander Ballantyne, Jonathan Hambur, Ivan Roberts and Michelle Wright
In particular, the combination of larger capital flows, a growing non-bank financial sector and structural issues with the government debt market undermined the effectiveness of monetary policy (Grenville 1991). ... The growth in the non-bank financial
https://www.rba.gov.au/publications/rdp/2014/2014-10/aus-exp-fin-reform.html

China's Financial System Reforms

31 Dec 2014 RDP 2014-10
Alexander Ballantyne, Jonathan Hambur, Ivan Roberts and Michelle Wright
But rising banking sector fragility and the non-performing loan (NPL) crisis of the late 1990s – combined with the 1997–1998 Asian financial crisis – highlighted the potential risks of moving quickly ... Since the early 2000s, capital controls have
https://www.rba.gov.au/publications/rdp/2014/2014-10/chi-fin-sys-reforms.html

Comparing Financial Reform in Australia and China

31 Dec 2014 RDP 2014-10
Alexander Ballantyne, Jonathan Hambur, Ivan Roberts and Michelle Wright
In contrast, the Chinese economy and financial sector are much larger than Australia's were at the time of liberalisation. ... A feature of Australia's financial reform process was the interaction between financial sector development and capital account
https://www.rba.gov.au/publications/rdp/2014/2014-10/com-fin-ref-aus-china.html

Introduction

31 Dec 2014 RDP 2014-10
Alexander Ballantyne, Jonathan Hambur, Ivan Roberts and Michelle Wright
The combination of a newly liberalised financial sector and capital account exposed Australia's underdeveloped prudential regulatory framework and banks' relative inexperience in the pricing of risk. ... The deterioration in the quality of banking sector
https://www.rba.gov.au/publications/rdp/2014/2014-10/introduction.html

References

31 Dec 2014 RDP 2014-10
Alexander Ballantyne, Jonathan Hambur, Ivan Roberts and Michelle Wright
Ishii S and K Habermeier with JI Canales-Kriljenko, B Laurens, J Leimone and J Vadasz (2002), ‘Capital Account Liberalization and Financial Sector Stability’, International Monetary Fund Occasional Paper No 211. ... Johnston RB (1998), ‘Sequencing
https://www.rba.gov.au/publications/rdp/2014/2014-10/references.html

Concluding Remarks

31 Dec 2014 RDP 2014-10
Alexander Ballantyne, Jonathan Hambur, Ivan Roberts and Michelle Wright
Domestic financial deregulation can create additional channels for capital flows, making capital controls less effective and creating pressure for their removal. ... By the same token, capital account liberalisation may increase the urgency of broader
https://www.rba.gov.au/publications/rdp/2014/2014-10/con-remarks.html

Appendix B: Time Line of Chinese Financial Reforms

31 Dec 2014 RDP 2014-10
Alexander Ballantyne, Jonathan Hambur, Ivan Roberts and Michelle Wright
RDP 2014-10: Financial Reform in Australia and China Appendix B: Time Line of Chinese Financial Reforms. ... Increases in deposit rates above the benchmark are prohibited for all financial institutions.
https://www.rba.gov.au/publications/rdp/2014/2014-10/appendix-b.html