Financial System In Australia
The Australian financial system consists of "the set of arrangements covering the borrowing and lending of funds and the transfer of ownership of financial claims" in Australia. It has several sectors:
- Banks, credit unions and building societies - referred to as Authorised Deposit-Taking Institutions (ADIs) or financial institutions
- Insurance (life and general)
- Superannuation
- Financial markets—debt, equity and derivative markets
- Payments systems—cash, cheques, EFTPOS, RTGS and other high-value payment systems
Read more about Financial System In Australia: Market Participants, Financial Markets, Payments and Clearing Systems, Regulation
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