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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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How Risky is Australian Household Debt?
25 Aug 2020
RDP
2020-05
This analysis allows us to move beyond aggregate measures of indebtedness and so take account of how the distribution of debt across households influences systemic risk. ... To some extent the results suggest that the rise in household debt has not
https://www.rba.gov.au/publications/rdp/2020/2020-05/full.html
References
25 Aug 2020
RDP
2020-05
IMF (International Monetary Fund) (2019), ‘Australia: Financial Sector Assessment Program: Technical Note—Stress Testing the Banking Sector and Systemic Risk Analysis’, IMF Country Report No 19/51. ... Kelly J, J Le Blanc and R Lydon (2019),
https://www.rba.gov.au/publications/rdp/2020/2020-05/references.html
Introduction
25 Aug 2020
RDP
2020-05
This analysis allows us to move beyond aggregate measures of indebtedness and so take account of how the distribution of debt across households influences systemic risk. ... Highly indebted households tend to be well educated, thereby reducing their risk
https://www.rba.gov.au/publications/rdp/2020/2020-05/introduction.html