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12 Oct Why Australia may need to upgrade one million payment terminals 11 Oct The next financial crisis could start with a technology outage 10 Oct The AI investment boom is becoming a financial stability issue

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AES Payment Terminal Upgrade

Why Australia may need to upgrade one million payment terminals

Around 970,000 payment terminals and 25,000 ATMs may need upgrading as Australia replaces its ageing TDES encryption with the stronger AES standard. Here's what the technology actually does — and why quantum computing raises the stakes.

Operational Risk

The next financial crisis could start with a technology outage

Australia's banks can hold ample capital and liquidity and still face serious stress if the infrastructure connecting them stops working. The RBA says operational risk is becoming a financial-stability risk.

The AI investment boom is becoming a financial stability issue

AI investment could reach trillions of dollars by 2030, and companies are increasingly turning to bonds, banks and private credit to fund it. The RBA says that is creating a new set of financial-system risks.

Australian Superannuation Financial Stability

Australia's $4.8 trillion super system has become financial infrastructure

Australian superannuation assets have reached almost $4.8 trillion — around one-third of the financial system. The RBA says super has historically stabilised markets, but its growing size and ageing membership create new financial-stability risks.

RBA

Will the RBA regulate the role of AI in making payments?

Artificial intelligence may soon do more than recommend what you buy. It could make the payment as well. This emerging system is called agentic commerce. A consumer could tell an AI agent to find the cheapest flight to Melbourne, choose an acceptable departure time and complete the purchase — without the

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Private Credit

Private credit is growing rapidly. Why isn't the RBA worried about a financial crisis?

Private credit now provides around 10% of Australian business debt, yet represents less than 2% of financial-system assets. The RBA says that helps explain why investor losses need not become a banking crisis.

Inflation

US inflation is easing. Australia has the harder problem

Inflation remains above target in both the US and Australia, but America's underlying numbers have improved considerably more. The problem for both central banks is that labour markets are now weakening at the same time.

Apple Pay

Explainer: Why Apple Pay is the focus of RBA regulatory supervision

Apple Pay makes paying easier, but behind every tap sits a network of banks, card schemes and technology. The RBA is examining whether control of the iPhone, wallet and customer interface affects competition in Australia's payments system.

Australian Bank Stress Test

How resilient are Australian banks to a housing crash?

The RBA has modelled an economy with GDP down 3%, unemployment at 6.3% and property prices down 20%. Despite the severe shock, Australian banks' core capital ratio falls only from 12.4% to around 11.6%.

Coalition Immigration Policy

The Coalition's Immigration Policy - Facts and Issues

The Coalition is proposing a major reduction in net overseas migration while increasing the emphasis on skilled workers. Here are the facts, economic trade-offs and political implications.

Cost of Regulation

Explainer: How much does regulation cost Australia?

Commonwealth regulation may impose $115–160 billion a year in compliance and delay costs. The Government says its reforms will save $10.2 billion. But one figure is gross and the Productivity Commission's target is net.

RBA Financial Stability Review

A 20% house price fall would leave only 5% of mortgages underwater

Australian dwelling values are already 5.2% below their peak. Yet the RBA estimates that even a further 20% fall would leave only around 5% of mortgages underwater. The reason lies in Australia's unusually large housing-equity buffers.

Australian Housing Inflation

A reflection on the source of domestic inflation - housing

Housing is now contributing more to Australian inflation than every tradable good and service combined.

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