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RBA Glossary definition for systemic risks
systemic risks – Events which may jeopardise financial system stability and cause harm to the real economy. For example, the Y2K problem was regarded as such a risk. They may include the risk that the failure of one participant in a payments system, or in financial markets generally, to meet their required obligations when due, will cause other participants or financial institutions to be unable to meet their obligations (including settlement obligations in a transfer system) when due. Such a failure may cause significant liquidity or credit problems.
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Central Counterparty Loss Allocation and Transmission of Financial Stress
16 Mar 2015
RDP
PDF
1285KB
The reforms aim to reduce interconnectedness and improve counterparty risk management in these important markets. ... The need for sound risk management arrangements to address concentration risks is well recognised both by policymakers (Tucker 2011, 2014
https://www.rba.gov.au/publications/rdp/2015/pdf/rdp2015-02.pdf
The Benefits and Costs of Tiering
31 Dec 2012
RDP
2012-06
In particular, tiering can increase a number of types of risk in a payment system. ... While the focus in this paper is on credit and concentration risk, other risks that can arise from tiering include:.
https://www.rba.gov.au/publications/rdp/2012/2012-06/benefits-costs-tiering.html
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References
1 Nov 1993
RDP
9311
The Economic Journal. , 100, 90–104. Davis, E. Philip (1992),. Debt, Financial Fragility and Systemic Risk. , ... Volume 10, Number 25, July 1, 46–53. Levonian, Mark and Marianne Gizycki (1993), ‘A Decade of Australian Banking Risk: Evidence From
https://www.rba.gov.au/publications/rdp/1993/9311/references.html
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Asset Prices, Credit Growth, Monetary and Other Policies: An Australian Case Study
14 Sep 2010
RDP
PDF
296KB
institutions to systemic risks (Bank of England 2009, Squam Lake Working Group on Financial Regulation 2009 and Caruana 2010). ... procedures to verify property valuations, and scoring techniques to identify high-risk loans (Genworth Financial 2007).
https://www.rba.gov.au/publications/rdp/2010/pdf/rdp2010-06.pdf
Central Counterparty Links and Clearing System Exposures
2 Feb 2015
RDP
PDF
3395KB
Pirrong (2012) also warnsthat systemic risk could increase, noting that such fragmentation will increase. ... Both qualitative and quantitativeapproaches have been used to examine the effects of recent developments inmarket structure on collateralisation
https://www.rba.gov.au/publications/rdp/2013/pdf/rdp2013-12.pdf
Credit, Money, Interest and Prices
26 Nov 2018
Research Workshop
PDF
1403KB
It is never efficient to chosethe safe endowment because endowment risk is idiosyncratic. ... 5. idiosyncratic risk increases and output falls as this leads to misallocation across sectors and lessinvestment.
https://www.rba.gov.au/publications/workshops/research/2018/pdf/rba-workshop-2018-bigio.pdf
A Select Bibliography of Published Research by Staff of the Reserve Bank of Australia: 1991–2001
1 Dec 2009
RDP
PDF
201KB
9408 Weston S and B Gray, ‘The Supervisory Treatment of Banks’ Market Risk’. ... 504. Mackrell NC, ‘Minimising Systemic Risk with Real-Time Settlement of High-Value Transactions’, ASX Perspective, 3rd Quarter, pp 16–19.
https://www.rba.gov.au/publications/rdp/2001/pdf/rdp2001-10.pdf
The Deregulated Era
31 Dec 2001
RDP
2001-07
The third criticism of the Reserve Bank's role was that it underestimated the systemic implications of Farrow's failure. ... knowledge to be best placed to manage systemic risk (Financial System Inquiry 1997).
https://www.rba.gov.au/publications/rdp/2001/2001-07/deregulated-era.html
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Trends in the Australian Banking System: Implications for Financial System Stability and Monetary Policy
1 Dec 2009
RDP
PDF
156KB
It discusses how they are likely to affect theprobability of a systemic event occurring, and discusses some implications formonetary policy. ... Foreign entrants have the potential to reduce the risk of systemic instabilitybecause they are diversified
https://www.rba.gov.au/publications/rdp/1999/pdf/rdp1999-05.pdf
Financial Reform in Australia and China
4 Feb 2015
RDP
PDF
1153KB
aware of the risks of such exposures in the early stages of the floating exchange rate regime. ... depends on both the return and the perceived risk associated with the investment.
https://www.rba.gov.au/publications/rdp/2014/pdf/rdp2014-10.pdf