We see macroprudential policy as part of the financial stability framework - RBA's Bullock

Michele Bullock, the Assistant Governor (Financial System) at the Reserve Bank of Australia, gave a speech at the Bloomberg Breakfast event.

Key quotes

• The Reserve Bank retains a role focusing on ‘overall financial system stability’
• There seems to be more willingness for regulators and policymakers to take action if they see risks building
• In Australia, we see the macroprudential policy as part and parcel of the financial stability framework
• In 2014, the Australian regulators took the view that risks were building in the residential housing 
• The resilience of both borrowers and lenders has no doubt improved