Unexpected Outcomes of the Financial Institutions Act

Stanford, J. (2004) Unexpected Outcomes of the Financial Institutions Act. Discussion Paper No. 333, School of Economics, The University of Queensland.

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Author Stanford, J.
Title Unexpected Outcomes of the Financial Institutions Act
School, Department or Centre School of Economics
Institution The University of Queensland
Report Number Discussion Paper No. 333
Publication date 2004-07-01
Subject 340203 Finance Economics
Abstract/Summary The Financial Institutions Act of 1992 provided a new legislative and regulatory framework for non-bank deposit-taking financial institutions (NBFIs), Building Societies and Credit Unions. The expectation of the Act was that the NBFIs would cater to the household sector of the economy and that the two types of NBFI would retain different balance sheet structures. However, the new regulation regime caused credit unions to change their lending policy to emphasis mortgage, rather than personal loans, and thus comerge to similar structure to building societies.
Keyword building societies
credit unions
financial institutions
capital requirements
non-bank financial institutions

Document type: Department Technical Report
Collection: Discussion Papers (School of Economics)
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Created: Thu, 02 Sep 2004, 10:00:00 EST by Belinda Weaver (EA)