CANBERRA, ACT, March 20 -- The Treasurer of Australia issued the following media release:
Today I convened a special meeting of the Council of Financial Regulators to discuss the conflict in the Middle East, its potential implications for our economy and financial markets, and actions being taken to shore up resilience.
Australia has a strong and resilient financial system that is well placed to confront global instability, and that was the clear message from regulators today.
While Australia is not immune to global challenges, we have strong economic fundamentals and our banking system is well‑capitalised.
The Government and financial regulators remain vigilant to emerging risks and we are working together in a coordinated way to...