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RBA governor Glenn Stevens yesterday revealed that the bank’s approach to any flailing domestic institutions would be conservative and limited.
In a speech at the Australian National University Mr Stevens said that the only circumstances in which the central bank would bail out financial institutions would be where the institution had reasonable asset quality but was facing short-term funding difficulties.
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“Public sector support should not be used to ‘bail out’ private shareholders or those who were responsible for running the troubled institution,” Mr Stevens said.
Published: 16-04-08
