Reserve Bank of Australia Governor Glenn Stevens on Monday said that the bank is paying increased attention over the role of the Payment System Board in regulating financial market infrastructure to preserve financial stability.
"The Board's mandate in relation to financial stability remains a key focus, and the global response to the financial crisis dictates that we take on a greater, and probably more complex, role as the global focus shifts to centralised financial market infrastructure," Stevens said during a speech in Sydney.
The bank is also devoting its time to look into greater innovation of the payment system, he added.
by RTT Staff Writer
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