The Reserve Bank’s mechanism for providing last-resort liquidity for banks in a crisis has been generating some controversy here but is now drawing attention offshore as a potentially useful approach for regulators as they try to deal with the liquidity risk issues highlighted by the global financial crisis.
Has the RBA cracked the liquidity code?
The Reserve Bank's lender-of-last-resort facility strikes a relatively even spread of costs between taxpayers and banks potentially making it an international benchmark for meeting post-GFC liquidity requirements.
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