RBA's Bullock says Australian banks now more resilient to shocks

RBA assistant governor Bullock in a scheduled speech 21 July

• too early to determine the effectiveness of new resolution arrangements for global systemticall important banks
• higher capital levels, greater supervision have improved resilience of financial system in Australia
• have highlighted risks from high household debt but also fundamental reasons for rapid house price growth in Sydney and Melbourne

Bullock is talking in Melbourne with a speech entitled "Big banks and financial stability"

Nothing on mon pol in the speech so we'll wait to see if any further comments in Q&A

AUDUSD currently 0.7886 after 0.7875 lows.

RBA's Bullock says banks now more resilient