IMF report praises Australian preparedness for Basel II

Australian banks and regulatory authority have made “good progress” in the implementation of Basel II, said the Financial System Stability Analysis released today by the International Monetary Fund (IMF).

“Australia has a high overall level of compliance with the Core Principles,” said the report, though it suggested that further work could be done to standardise supervisory teams and provide further guidance to supervisory staff, the IMF said of the Australian Prudential Regulatory Authority

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