April 17, 2024

CPS

Travel Adventure

Australia Plans First Stress Test of Financial System in 2025 to Gauge Shocks

1 min read

Australia’s financial regulator is planning a system-wide stress test to gauge the potential impact of shocks beyond the banking industry.

The Australian Prudential Regulation Authority intends to launch the test in 2025 and then spend a year carrying out the exercise, Chair John Lonsdale said in a speech to the AFR Banking Summit on Tuesday. The aim is to gauge the impact of unexpected events that can destabilize the financial system.

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