Chapter 2 - Chapter 2 1 Various monetary authorities that...

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Chapter 2 1. Various monetary authorities that regulates the Australian financial system include The Reserve Bank of Australia (RBA), The Australian Prudential Regulation Authority (APRA), and The Australian Securities and Investment Commission (ASIC). The role of RBA are the determination and implementation of monetary policy, issuing Australian currency notes, overseeing the payments system, acting as the government’s banker, issuing and providing the market for treasury securities, and managing financial system liquidity and the government’s holding of foreign exchange. The role of APRA are the development and implementation of prudential regulation that supervised entities will have to abide by, monitoring regulated entities to ensure they are complying with relevant legislation and prudential policies, and advising the government on the development of regulation and legislation affecting regulated institutions and the financial markets in which they operate. The role of ASIC is regulating financial markets,
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