Quarterly Statement by Council of Financial Regulators

The Council of Financial Regulators (CFR) has published its latest quarterly statement, which discussed the highly uncertain international environment, with geopolitical tensions and policy uncertainty magnified, and the intensity of cyber risks increased. 

The CFR also noted that while household budget pressures were widespread across the Australian community, the vast majority of borrowers were managing these pressures and so loan arrears rates remained contained. 

In relation to climate reporting and sustainability-related data, the CFR acknowledged challenges facing financial system participants in estimating, reporting and disclosing such data, given that this is a complex and evolving area with a range of tools, methods and standards. 

On the CFR Review into small and medium-sized banks, it noted plans to provide a final report to the Government by 1 July 2025, with recommendations for consideration by the Government and relevant agencies.