Central Banking

RBA's Lowe on non-banks in the payments system

In the speech 'Non-banks in the payments system: A central bank perspective' given on 4 May Philip Lowe of the RBA said our approach to oversight has focused on the various functions involved in making a payment from one person to another.

"We have endeavoured to ensure that wherever possible, the provision of these services is contestable, and that the risks are adequately managed.

"This approach - which reflects our responsibility for both efficiency and stability - has involved close co

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