RBA deputy says public sector must stand ready to save banks in a time of crisis
Reserve Bank of Australia (RBA) deputy governor Philip Lowe said on Thursday that "it would be a mistake to reject completely the idea of the public sector using its balance sheet during a period of financial stress or crisis."
Speaking at the Institute of Global Finance Second Conference on Global Financial Stability and Prosperity in Sydney, Lowe said: "In a stressed environment, when even high-quality assets cannot be bought and sold [and] otherwise sound institutions cannot access funding
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