02296cas a2200241 a 4500 AALejournalIMF019084 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484398906 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Monetary and Capital Markets Department. Australia : Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight and Macroprudential Policy. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (41 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This technical note reviews systematic risk oversight and macroprudential policy in Australia. The paper surveys key concerns affecting the Australian financial system, including the substantial increase in house prices and household indebtedness, the rising concentration of bank exposures, and potential volatility from the commercial real estate sector. The macroprudential policy response of the authorities has also been examined. Current arrangements have historically worked well and are based on a culture of strong inter-agency cooperation, and it is important that processes are appropriate to ensure ongoing focus on stability-related risks. The IMF team recommends that the authorities explore options for further extending their macroprudential toolkit, providing additional flexibility in responding to significant shocks, and reducing systemic vulnerabilities. The slowing in the growth of household indebtedness and lower house prices suggest that substantial new measures are not required at the current juncture, but a 'readiness' assessment would help to facilitate the introduction of new or expanded policy measures when required. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2019/050 Full text available on IMF http://elibrary.imf.org/view/journals/002/2019/050/002.2019.issue-050-en.xml IMF e-Library