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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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Increasing the Threshold for the Application of the Financial Stability Standards for Securities Settlement Facilities | Consultations

24 Nov 2023 Consultations
Consultation on Increasing the Threshold for the Application of the Financial Stability Standards for Securities Settlement Facilities - November 2023
https://www.rba.gov.au/publications/consultations/2023-11-increasing-the-fss-threshold-for-sffs/

Central Clearing of OTC Derivatives | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
Moreover, recognising that individual market participants may not fully internalise the costs of higher systemic risk arising from bilateral arrangements, and so not have an incentive to move to a CCP, ... Therefore, while the benefits to participants of
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/central-clearing-otc-derivatives.html

Background | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
We ask the FSB [Financial Stability Board] and its relevant members to assess regularly implementation and whether it is sufficient to improve transparency in the derivatives markets, mitigate systemic risk, and ... Regulators have recognised that not
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/background.html

Executive Summary | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
On the other hand, there might be systemic risk implications if a greater concentration of exposures or dependencies among market participants resulted from a shift to centrally cleared arrangements. ... Of course, the greatest concentration of risk is
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/executive-summary.html

Costs and Benefits of a Repo CCP – Issues for Consultation | Central Clearing of Repos in Australia: A Consultation Paper | Consultations

6 Mar 2015 Consultations
In terms of benefits, the Bank's focus is on the scope for central clearing of repos to deliver material systemic risk reduction and market functioning benefits through multilateral netting, enhanced ... Therefore, to the extent that risks in a
https://www.rba.gov.au/publications/consultations/201503-central-clearing-of-repos-in-australia/costs-benefits-repo-ccp.html

Annex | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
In order to receive and maintain an AFSL, entities need to demonstrate that they satisfy a range of business conduct, governance, risk control, and resourcing measures. ... As with market operators, a clearing and settlement facility must satisfy certain
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/annex.html

Introduction | Central Clearing of Repos in Australia: A Consultation Paper | Consultations

6 Mar 2015 Consultations
Consistent with developments in other core markets, such as that for over-the-counter (OTC) interest rate derivatives, central counterparty (CCP) clearing could improve market functioning and reduce systemic risk by ... Authorities should evaluate, with
https://www.rba.gov.au/publications/consultations/201503-central-clearing-of-repos-in-australia/introduction.html

Key Policy Design Considerations | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
The Council agencies are of the view that any mandatory requirement to centrally clear products should take into account both the potential systemic risk reduction benefits of central clearing over bilateral ... This suggests that, in practice, the only
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/key-policy-design-considerations.html

Proposed Clearing Regime Design and Application | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
the potential reduction of systemic risk that might result from this move;. ... the potential contribution to systemic risk of these participants; and. harmonisation with international requirements.
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/proposed-clearing-regime-design.html

Options for Reform | Proposed Variation to the MasterCard and Visa Access Regimes: Consultation Document December 2013 | Consultations

6 Dec 2013 Consultations
As discussed, cardholders generally do not face risks from the MasterCard and Visa systems and risks within those systems are not of a magnitude to generate systemic risk. ... The proposed requirement for the schemes to have transparent risk-based
https://www.rba.gov.au/publications/consultations/20131206-prop-variations-to-mc-visa-access-regimes/options-reform.html