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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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Crisis Management and Resolution | Supplementary Submission to the Financial System Inquiry – August 2014 | Financial Sector | Submissions
1 Aug 2014
Submissions
risks of deepening the institution's financial distress and spurring contagion to the broader financial system (RBA 2014, p 49). ... These risks mean that the design and use of bail-in policy options need to be approached cautiously.
https://www.rba.gov.au/publications/submissions/financial-sector/financial-system-inquiry-2014-08/crisis-management-resolution.html
Innovation and Technological Change in Financial Intermediation and the Payments System | Supplementary Submission to the Financial System…
13 Jan 1997
Submissions
71. Such innovations have not, of course, removed risks from intermediation and in inexpert or imprudent hands they may actually lead to greater risk. ... Prudential supervision aims to help management contain the various risks in financing and has had
https://www.rba.gov.au/publications/submissions/financial-sector/financial-system-inquiry-supplement-1997/innovation-and-technological-change-in-financial-intermediation.html
Reforms to the Payment Systems (Regulation) Act 1998 Submission to Senate Economics Legislation Committee – February 2024 | Payments System …
23 Feb 2024
Submissions
risks as the payments system continues to evolve. ... The PSB has a specific duty to ensure that the RBA exercises its powers under the PSRA in a way that best contributes to: controlling risk in the financial system; promoting
https://www.rba.gov.au/publications/submissions/payments-system/reforms-to-the-psra/index.html
Commonwealth of Australia: In the Australian Competition Tribunal – April 2004 | Payments System | Submissions
13 Jun 2023
Submissions
Real-time, PIN-based authorisation of transactions provides merchants with a guaranteed payment unlike, for example, cheques and without the same fraud and charge-back risks as in credit cards.
https://www.rba.gov.au/publications/submissions/payments-system/au-competition-tribunal/index.html
Submission to the Senate Select Committee on Financial Technology and Regulatory Technology – December 2019 | Payments System | Submissions
28 Dec 2019
Submissions
and security risks associated with clearing activities’, but that it could be removed for settlement participants. ... requirements and risk-management controls’ which are not justified given the indirect participation options available.
https://www.rba.gov.au/publications/submissions/payments-system/financial-and-regulatory-technology/index.html
The Australian Securities and Investments Commission's Review of the EFT Code of Conduct – April 2006 | Responses and Options Paper
14 Jun 2023
Submissions
These systems are costly to establish, requiring sophisticated IT, communications and risk management systems, reliable back-up arrangements and links to payment systems. ... This additional netting could reduce risk and reduce the liquidity costs of
https://www.rba.gov.au/publications/submissions/payments-system/proposed-asx-sfe-merger/index.html
Submission to the Inquiry into the Treasury Laws Amendment (Reserve Bank Reforms) Bill 2023 | Performance and Accountability | Submissions
2 Feb 2024
Submissions
It will help mitigate the risk of unrealistic public expectations of what monetary policy can achieve. ... beneficial. At the same time, this creates a risk that the objectives of the Governance Board and one of the Banks two policy boards come into
https://www.rba.gov.au/publications/submissions/other/inquiry-into-the-treasury-laws-amendment-reserve-bank-reforms-bill-2023/index.html
Proposed merger between Armaguard and Prosegur – October 2022 | Responses and Options Paper
24 May 2023
Submissions
2, – such as an increased risk of counterfeiting, or a retail run – as being less likely to arise. ... The approaches taken by other countries in helping to mitigate these risks has included legislating minimum requirements for cash access and
https://www.rba.gov.au/publications/submissions/payments-system/proposed-merger-armaguard-and-prosegur-submission-october-2022/index.html
Applications for Authorisation in Relation to PIN@POS – July 2016 | Payments System | Submissions
19 May 2023
Submissions
As part of its work, the Board monitors developments in payments fraud, since fraudulent transactions can affect the efficiency of a payment system by increasing the costs and risks of making
https://www.rba.gov.au/publications/submissions/payments-system/applications-for-authorisation-re-pin@pos-2013-07/index.html
Applications for Authorisation in Relation to 3D Secure – February 2016 | Payments System | Submissions
19 May 2023
Submissions
Because cardholders are generally insulated from the impact of fraud by chargeback rights and zero liability arrangements, they can be expected to value convenience over the risk faced mainly by others.
https://www.rba.gov.au/publications/submissions/payments-system/applications-for-authorisation-re-3d-secure/index.html