RBA’s Ellis warns against regulatory ‘monoculture’


The Reserve Bank of Australia's (RBA's) Luci Ellis yesterday warned against inadvertently creating a "monoculture" in the global financial system in the pursuit of regulatory consistency.

Ellis, the RBA's head of financial stability, noted that global reforms have "gone a long way" towards promoting international consistency in financial regulation.

She pointed to the Basel Committee on Banking Supervision's assessments into "how faithful" each of its members' reforms have been to the Basel III

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