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Australia to take steps to strengthen banks' capital levels

from Bloomberg

Australia's banking regulator will take additional steps by the end of 2016 to ensure the nation's lenders have strong capital levels, the government said in its response to the Financial System Inquiry. The sector has "potential vulnerabilities" due to banks' reliance on offshore funding and mortgages and thus needs stronger regulation than other comparable economies, Treasurer Scott Morrison said in a report released by Treasury. more

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