Consultation on Assessing Sufficient Equivalence – May 2009 4. Key Issues for Respondents

The Reserve Bank invites comments on any aspect of this Consultation Document. Interested parties might, however, wish to consider the following issues in particular:

• The general approach proposed for assessing sufficient equivalence in relation to the degree of protection from systemic risk.
• Practical issues in assessing the degree of overlap in the coverage of standards or principles underpinning the Australian and overseas regimes.
• Practical issues in assessing overall sufficient equivalence should a regime appear stronger in some respects (eg, a more intensive oversight process), but weaker in others (eg, a less formal assessment process, lack of legislative backing in enforcement, or more general principles/standards).
• Practical issues in carrying out the outcomes test to gauge the sufficient equivalence of outcomes.