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RBA Glossary definition for systemic risk

systemic risk – The risk that the failure of one participant in a payments system, or in financial markets generally, to meet its required obligations when due will cause other participants or financial institutions to be unable to meet their obligations (including settlement obligations in a transfer system) when due. Such a failure may cause significant liquidity or credit problems and, as a result, might threaten the stability of financial markets.

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Increasing the Threshold for the Application of the Financial Stability Standards for Securities Settlement Facilities | Consultations

24 Nov 2023 Consultations
Consultation on Increasing the Threshold for the Application of the Financial Stability Standards for Securities Settlement Facilities - November 2023
https://www.rba.gov.au/publications/consultations/2023-11-increasing-the-fss-threshold-for-sffs/

Central Clearing of Over-the-counter (OTC) Derivatives in Australia - June 2011

15 Jul 2011 Consultations PDF 875KB
A discussion paper issued by the Council of Financial Regulators
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/pdf/201106-otc-derivatives.pdf

Central Clearing of OTC Derivatives | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
Moreover, recognising that individual market participants may not fully internalise the costs of higher systemic risk arising from bilateral arrangements, and so not have an incentive to move to a CCP, ... Therefore, while the benefits to participants of
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/central-clearing-otc-derivatives.html

Background | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
We ask the FSB [Financial Stability Board] and its relevant members to assess regularly implementation and whether it is sufficient to improve transparency in the derivatives markets, mitigate systemic risk, and ... Regulators have recognised that not
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/background.html

Increasing the Threshold for the Application of the Financial Stability Standards for Securities Settlement Facilities

23 Nov 2023 Consultations PDF 511KB
The Bank first introduced a threshold in 2005. This was intended to ensure that operators of small SSFs, which are unlikely to pose systemic risk to the Australian financial system, are ... This includes the obligation to reduce systemic risk as far as
https://www.rba.gov.au/publications/consultations/2023-11-increasing-the-fss-threshold-for-sffs/pdf/2023-11-increasing-the-fss-threshold-for-sffs.pdf

Executive Summary | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
On the other hand, there might be systemic risk implications if a greater concentration of exposures or dependencies among market participants resulted from a shift to centrally cleared arrangements. ... Of course, the greatest concentration of risk is
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/executive-summary.html

Annex | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
In order to receive and maintain an AFSL, entities need to demonstrate that they satisfy a range of business conduct, governance, risk control, and resourcing measures. ... As with market operators, a clearing and settlement facility must satisfy certain
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/annex.html

Costs and Benefits of a Repo CCP – Issues for Consultation | Central Clearing of Repos in Australia: A Consultation Paper | Consultations

6 Mar 2015 Consultations
In terms of benefits, the Bank's focus is on the scope for central clearing of repos to deliver material systemic risk reduction and market functioning benefits through multilateral netting, enhanced ... Therefore, to the extent that risks in a
https://www.rba.gov.au/publications/consultations/201503-central-clearing-of-repos-in-australia/costs-benefits-repo-ccp.html

Introduction | Central Clearing of Repos in Australia: A Consultation Paper | Consultations

6 Mar 2015 Consultations
Consistent with developments in other core markets, such as that for over-the-counter (OTC) interest rate derivatives, central counterparty (CCP) clearing could improve market functioning and reduce systemic risk by ... Authorities should evaluate, with
https://www.rba.gov.au/publications/consultations/201503-central-clearing-of-repos-in-australia/introduction.html

Increasing the Threshold for the Application of the Financial Stability Standards for Securities Settlement Facilities: Conclusions Paper

15 Apr 2024 Consultations PDF 506KB
consider that firms with annual settlement activity below $40 billion (calculated on a gross basis) are likely to directly pose systemic risks to Australia’s financial stability. ... This would include an obligation under the Act to do all things
https://www.rba.gov.au/publications/consultations/2023-11-increasing-the-fss-threshold-for-sffs/pdf/2023-11-increasing-the-fss-threshold-for-sffs-conclusions-paper.pdf