Reserve Bank of Australia - Annual Report 2007

The sound position of local banks was a major source of strength for the Australian financial system during last year, said Glenn Stevens, the governor of the Reserve Bank of Australia, in the foreword the central bank's latest Annual Report.

Overall, the rise in term funding spreads to the official yield curve has generally been smaller in Australia than in continental Europe, the United Kingdom or the United States, he added.

Click here to read the annual report

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