Reserve Bank of Australia

Owning Institution:
Discussion paper

The consequences of low interest rates for the Australian banking sector

There is a vast international literature exploring the consequences of low interest rates for various banking sectors. In this paper, the author explores how this international literature relates to the Australian banking sector, which operates differently to other jurisdictions.
Discussion paper

The Term Funding Facility: has it encouraged business lending?

The Reserve Bank of Australia’s Term Funding Facility (TFF) was announced in March 2020 as part of a package of policy measures to support the Australian economy. This paper examines the effectiveness of the TFF in increasing the supply of credit to businesses, which was...
Discussion paper

Do Australian households borrow to keep up with the Joneses?

This paper examines whether and how local income inequality affects household debt and its composition using household panel data for Australia from the Household, Income and Labour Dynamics in Australia (HILDA) Survey.
Discussion paper

Macrofinancial stress testing on Australian banks

This paper outlines how the Reserve Bank of Australia’s bank stress testing model works. It also shows how the model was useful in a real-world crisis, at the onset of the COVID-19 pandemic.
Discussion paper

The yield and market function effects of the Reserve Bank of Australia’s bond purchases

In this paper, the authors examine the effect on government bond yields of three Reserve Bank of Australia policy measures implemented following the onset of the COVID-19 pandemic. They also assess the impact of the three measures on government bond market functioning.