Developments in the Structure of the Australian Financial System

Some countries’ financial systems have undergone significant changes in response to the global financial crisis. While Australia’s financial system also experienced a variety of pressures and changes as a result of the crisis, the overall effect was much less severe than in some other developed countries and some of the recent changes in the structure of the Australian financial system have been a continuation of longer-term trends. This article examines recent developments in the institutional structure and performance of the Australian financial system, focusing on the past five years or so since the Reserve Bank published an article on this subject.