Why the enforcers need the banks’ protection money

The big banks are tipping in the lion’s share of $275bn into a liquidity facility that may never be used, but it’s an insurance policy we all have to have.

The Australian Prudential Regulation Authority and Reserve Bank arrangements for emergency liquidity support for banks in any future crisis have generated considerable controversy. In finalising those arrangements today, however, APRA underscored their necessity.

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