The economic recession spiralled by the subprime crisis has called upon business organizations particularly banks and other financial institutions to ensure better risk management practices. It also calls for financial institutions to increase the level of compliance. These calls for a collective effort on the part of bankers, central bankers as well as policy makers to formulate policies that seek to ensure financial health and stability of these crucial institutions of the economy. The present study would analyse the financial institutions in Australia with regards to their structure and legal framework. Special emphasis would be given to the banking sector in the report that would also analyse the challenges faced by the Australian banks. Structure of Australian Financial Institutions The Australian financial services industry is divided into a total of nine distinct sectors which includes deposit based financial institutions like banks and other credit agencies, non deposit based financial firms, the central bank, asset investing firms like stock trading companies, pension and superannuation fund management companies, auxiliary firms like stock brokers, mortgage securities firms, life insurance, general insurance and finally the insurance broking companies. The financial sector contributes about 18 billion Australian dollars to the nation’s economy which equals almost 8 percent of the total GDP of the nation. The nation has a total of 30000 financial institutions which also provide employment opportunities to a significant share of the population of the nation that is being pegged at 700000 individuals which includes approximately 6.4 percent of the total workforce in Australia (IBSA, 2010, p.4, 6). Figure 1: Assets of the Financial Institutions in Australia (Source: Austrade, 2009, p.13) The figure above shows the total assets of the financial institutions in Australia as of the year 2009. According to the statistics shown in the figure the total assets of the financial institutions of the nation was 4431 billion Australian dollars. The compounded annual growth rate is being pegged at 11.8 percent starting from the year 1994. The financial institutions in Australia have also expanded their reach to across all the major and developing markets across the globe (Austrade, 2009, p.13). In terms of investment based funding assets the current value of the total assets in the nation is 541 billion AUD which is the fourth largest in the world. The figure is expected to grow to about 1979 billion AUD by the year 2015 (Austrade, 2009, p.16). Banking Industry in Australia As per the latest information from the Australian Reserve bank there are about 58 banks in the nation that includes 7 major banks, 7 local banks, 9 foreign banks incorporated in Australia and 35 foreign banks. The total cash and liquid assets including notes, deposits and coins apart from other liquid assets amounted to 3 percent of the total assets of residents in Australia. Trading and investment based securities accounted for 9.3 percent and 6 percent respectively. The loans and advances segment including all forms of loans extended to the retail as well as corporate houses in the nation amount to 62.2 percent. Other
Research report on Australian financial services industry Table of Contents Research report on Australian financial services industry 1 Table of Contents 2 Introduction 3 Structure of Australian Financial Institutions 3 Banking Industry in Australia 5 Legal Framework of Australian Banks 7 Liquidity Management 8 Capital Management 8 Challenges Faced by Australian Banks 11 Conclusions 13 References 14 Introduction Banks and financial institutions have been the institutions that have been impacted most significantly by the global economic recession…
Supernova ltd. a German based firm is planning to enter the Australian market with the aforementioned product. There is a huge scope for the product to get success in Australia as the consumers are very much keen to try to new and innovative products. The main objective of the project is to analyze the demand of this particular product in Australia and to know about the consumer’s acceptance of new & innovative products.
No other country in the developed world has solar insolation levels that compare to Australia. These levels are comparable to those found in deserts around the world and can be used to create massive amounts of energy. (Solar Streetscapes, 2010) In this respect new and old business ventures are emerging in Australia to tap into the massive solar reserves.
This is through diversifying and enhancing the expansion of banking and pecuniary sectors. It is the monetary and business entryway between regional, upcoming and global markets and contributes considerably to the UAE’s nation building objective. The new Amending Law does not alter the responsibility of the DIFC; rather its configuration is being enhanced to further the initial targets and clarify authority processes.
The company manufactures and sells Apple branded and other electronic devices like Apple TV and digital video cameras. The growth of markets for consumer goods during the recent years in developing countries like India and China holds promise for stability in earnings and sustainable growth of the company in the long run.
The high responsiveness of the market has encouraged the firms in the service industries also to resort to research and development for bringing about new products into the market. In those cases where there are existing products which need slight modifications in terms of the cost, benefit or service to the customers, the firms tried to introduce such changes to make them marketable.
This industry includes the commercial banks and building societies dealing with transmission of money, loans, mortgages, pensions, insurance, trade finance, stocks and shares and a wide range of other investment and lending services amongst others. 
Analysis of PEST (Political, Economic, Social and Technological) forces will give us a true picture of what this industry is involved in and what has been going on.
The evaluation of consumer behaviour is valuable for all industrial sectors around the world because it is mainly through the customer preferences (as explained through the consumer behaviour in the long term) that the needs of the market are being estimated.
Stock prices of the company have been analyzed in comparison with S & P 500 price index. Performance of a subsidiary of HP outside northern America has been reviewed. The growing Australian HP is considered for this purpose. Finally it
onomy as it contributed $33 billion in GDP in 2004/05 and the domestic households contributing 63% of total tourism consumption (Tourism Research Australia, 2007). However, domestic travel has been on the decline not just in Australia but the same trend persists in other
6 pages (1500 words)Essay
Hire a pro to write a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Apply my DISCOUNT
Got a tricky question? Receive an answer from students like you!Try us!
Let us find you an essay for FREE
Contact us via Live Chat, call us at +16312120006or send an email to email@example.com