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Has the Australian prudential regulation authority done enough to meet its legislated objectives and prepare Australia for the next financial crisis?

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journal contribution
posted on 2024-06-18, 21:49 authored by G North, T Wilson
This article examines APRA’s performance against its legislated objectives and the policy rationales and legal theories underlying the supervision of prudential regulation and promotion of financial system stability. The article will investigate the prudential framework in place and actions taken by APRA in the period beginning January 2014 to the end of June 2018, focusing on APRA’s oversight of residential property lending standards because the quality of these loans will be the single largest determinant of the future health of the Australian financial system. The current study’s findings and broader evidence suggest that APRA’s responses to ongoing lax and risky home lending standards were ad hoc, conservative, and reactive.

History

Journal

University of New South Wales law journal

Volume

43

Pagination

552-580

Location

Sydney, N.S.W.

Open access

  • Yes

ISSN

0313-0096

eISSN

1839-2881

Language

eng

Publication classification

C1 Refereed article in a scholarly journal

Issue

2

Publisher

University of New South Wales

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