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RBA, Council of Financial Regulators Annual Report

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The 2002 Council of Financial Regulators' Annual Report was released by the Reserve Bank of Australia, 25 September. The powerful Council of Financial Regulators - made up of the Reserve Bank, the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission - said the housing and debt frenzy had become one of its key concerns. "The exceptionally fast increase in borrowing for investor housing has clearly increased risk and . . . the accompanying rapid

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