Organisation

Centre for International Finance and Regulation

Owning Institution:

University of New South Wales

Macquarie University

University of Technology Sydney

Government of Australia

Government of New South Wales

University of Sydney

University of Melbourne

Australian National University

The Centre for International Finance and Regulation (CIFR) was a Centre of Excellence operating from 2011 to 2016 to address fundamental issues affecting the Australian financial industry. CIFR’s mission was to promote financial sector vibrancy, resilience and integrity, supporting Australia as a regional financial centre through leading research and education on systemic risk, market and regulatory performance and financial market developments. CIFR funded 71 research projects, involving well over 100 researchers from domestic and international universities.

For Australia’s financial industry, CIFR provided a strategic link between academia, policy-makers, regulators and other industry participants. Now closed, the Centre's output of 148 papers are all available at this publisher page.

Working paper

The superannuation system and its regulation: views from fund executives

31 Jul 2014

Centre for International Finance and Regulation

This paper summarizes views on the superannuation system and its regulation collected through interviews of fund executives.

Working paper

Do regulatory requirements influence managers’ information processing bias in impairment decisions?

31 Jul 2014

Hwee Cheng Tan,

Ken Trotman

Centre for International Finance and Regulation

We conduct an experiment to investigate how regulatory requirements in the accounting for impairment, namely, reversibility of impairment losses and disclosure of impairment assumptions, influence managers’ bias in the processing of impairment information. Our results show that regulatory requirements influence managers’ information evaluation bias but not their bias in the search process. We find that...

Working paper

Developing and implementing AML/CFT measures using a risk-based approach for new payments products and services

30 Jun 2014

Louise Malady,

Ross Buckley,

Douglas Arner

Centre for International Finance and Regulation

The use of new payment methods by the previously unbanked or underbanked holds out much hope for improved financial inclusion and consequently improved standards of living. It is important that new payment methods that enhance financial inclusion not be weighed down by overly burdensome regulation due to financial integrity concerns. The Financial Action Taskforce (FATF)...

Working paper

Systemic Financial Risk Inference in a Global Setting

30 Jun 2014

Centre for International Finance and Regulation

We propose a new top-down approach to measure systemic risk in the financial system. Our framework uses a combination of macroeconomic, financial and rating factors in representative regions of the world. We formulate a mixed-frequency state-space model to estimate macroeconomic factors. To derive financial risk factors, we use Moody’s/KMV expected default frequencies after accounting for...

Working paper

Testing the effect of portfolio holdings disclosure in an environment absent of mandatory disclosure

30 Jun 2014

Zhe Chen,

David R. Gallagher,

Adrian Lee

Centre for International Finance and Regulation

An effective portfolio disclosure regime must balance both its costs and benefits across the entire financial services industry. This study examines a number of disclosure regimes with respect to accuracy and susceptibility to copycat behaviour in an environment absent of mandatory disclosure. We find that periodic portfolio disclosure tends to underestimate true excess performance as...