Australian financial system : final report of the Committee of Inquiry

Creator
Committee of Inquiry into the Australian Financial System
Call Number
Nq 328.94 AUS
Created/Published
Canberra : Government Printer, 1981
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874
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Contents

AUSTRALIAN FINANCIAL SYSTEM Final Report of the Committee of Inquiry 1
AUSTRALIAN FINANCIAL SYSTEM FINAL REPORT of the Committee of Inquiry SEPTEMBER 1981 7
CONTENTS 11
PREFACE 27
INTRODUCTION 29
CHAPTER 1: GOVERNMENT INVOLVEMENT IN THE FINANCIAL SYSTEM 35
CHAPTER 2: ROLE OF THE RESERVE BANK 49
APPENDIX 2.1 RELATIONS BETWEEN GOVERNMENT AND CENTRAL BANK: A SURVEY OF TWENTY COUNTRIES1 69
DOMESTIC ECONOMIC POLICY CHAPTER 3: POLICY OBJECTIVES AND MONETARY TARGETING 85
APPENDIX 3.1 MONETARY TARGETING 94
CHAPTER 4: INSTRUMENTS OF MONETARY POLICY 100
APPENDIX 4.1 DIRECT CONTROLS: EFFICIENCY COSTS AND DISTRIBUTIONAL EFFECTS 118
CHAPTER 5: CENTRAL BANK LIQUIDITY SUPPORT FACILITIES 123
CHAPTER 6: SEASONAL FLUCTUATIONS IN LIQUIDITY 136
EXTERNAL ECONOMIC POLICY CHAPTER 7: EXCHANGE RATE POLICY 147
APPENDIX 7.1 AUSTRALIA'S FOREIGN EXCHANGE POLICY 1976-79 167
CHAPTER 8: EXCHANGE CONTROL POLICY 172
APPENDIX 8.1 MAJOR CHANGES TO EXCHANGE CONTROLS 188
PUBLIC SECTOR FINANCING CHAPTER 9: THE MARKETING OF GOVERNMENT SECURITIES AND THE ROLE OF AUTHORISED DEALERS 189
APPENDIX 9.1 MARKETING OF COMMONWEALTH SECURITIES IN AUSTRALIA 204
CHAPTER 10: CAPTIVE MARKET ARRANGEMENTS APPLYING TO GOVERNMENT AND SEMI-GOVERNMENT SECURITIES 207
CHAPTER 11: RANGE OF GOVERNMENT SECURITIES 220
CHAPTER 12: LOAN COUNCIL REGULATION OF LOCAL AND SEMI-GOVERNMENT BORROWINGS 229
TAXATION POLICY CHAPTER 13: TAXATION POLICY: GENERAL APPROACH 239
CHAPTER 14: COMPANY TAXATION 243
APPENDIX 14.1 FULL INTEGRATION: A CONSIDERATION OF SOME ISSUES 263
APPENDIX 14.2 PUBLIC/PRIVATE COMPANY DISTINCTION: HISTORICAL BACKGROUND 267
APPENDIX 14.3 TREATMENT OF COMPANY GROUPS IN SELECTED COUNTRIES1 268
CHAPTER 15: TAXATION OF INTERMEDIARIES 269
CHAPTER 16: TAXATION OF SPECIFIC TRANSACTIONS 292
CHAPTER 17: INFLATION AND TAXATION 311
APPENDIX 17.1 A PROCEDURE FOR INDEXING THE INCOME TAX BASE FOR INFLATION 315
PROTECTION OF INVESTORS AND BORROWERS CHAPTER 18: INVESTOR PROTECTION: GENERAL APPROACH 317
CHAPTER 19: INVESTOR PROTECTION: DEPOSIT-TAKING INTERMEDIARIES 326
CHAPTER 20: INVESTOR PROTECTION: LONG-TERM SAVINGS INTERMEDIARIES 363
CHAPTER 21: INVESTOR PROTECTION: COMPANIES AND THE SECURITIES INDUSTRY 398
CHAPTER 22: CONSUMER CREDIT: PROTECTION OF BORROWERS 431
PARTICIPATION IN THE FINANCIAL SYSTEM CHAPTER 23: PARTICIPATION IN THE DOMESTIC PAYMENTS SYSTEM 441
APPENDIX 23.1 AUSTRALIA'S DOMESTIC PAYMENTS SYSTEM 455
CHAPTER 24: DOMESTIC ENTRY TO FINANCIAL INTERMEDIATION 461
CHAPTER 25: NON-RESIDENT PARTICIPATION IN AUSTRALIAN FINANCIAL INTERMEDIATION 469
GOVERNMENT-OWNED FINANCIAL INSTITUTIONS CHAPTER 26: GOVERNMENT-OWNED FINANCIAL INSTITUTIONS: GENERAL APPROACH 485
CHAPTER 27: GOVERNMENT-OWNED COMMERCIAL BANKS AND OTHER DEPOSIT-TAKING INTERMEDIARIES 494
APPENDIX 27.1 GOVERNMENT BANKS: RELATIVE IMPORTANCE AND COMPARATIVE PERFORMANCE 508
CHAPTER 28: COMMONWEALTH DEVELOPMENT BANK 513
CHAPTER 29: AUSTRALIAN INDUSTRY DEVELOPMENT CORPORATION 518
APPENDIX 29.1 AIDC: VIABILITY AND OPERATIONAL PERFORMANCE 532
CHAPTER 30: HOUSING LOANS INSURANCE CORPORATION 536
CHAPTER 31: STATE GOVERNMENT INSURANCE OFFICES 547
COMPETITIVE STRUCTURE CHAPTER 32: COMPETITIVE STRUCTURE: FINANCIAL INTERMEDIARIES 555
APPENDIX 32.1 INVESTMENT CHARACTERISTICS OF INSTITUTIONAL INVESTORS 577
CHAPTER 33: THE STRUCTURE AND EFFICIENCY OF SECURITIES MARKETS AND PATTERNS OF SHARE OWNERSHIP 581
APPENDIX 33.1 MEMBERSHIP REQUIREMENTS OF AUSTRALIAN STOCK EXCHANGES 619
APPENDIX 33.2 CORPORATE MEMBERSHIP OF THE LONDON STOCK EXCHANGE 620
COMPANY FINANCING CHAPTER 34: FINANCE FOR BUSINESS 621
CHAPTER 35: ROLE OF FOREIGN CAPITAL 645
APPENDIX 35.1 TRENDS IN HOUSEHOLD SAVING IN AUSTRALIA AND OVERSEAS 654
SECTORAL FINANCE CHAPTER 36: SECTORAL ASSISTANCE: GENERAL APPROACH 657
CHAPTER 37: HOUSING FINANCE AND SECONDARY MORTGAGE MARKETS 667
APPENDIX 37.1 THE EFFECT OF INTEREST RATE CHANGES ON HOUSEHOLD SECTOR SAVINGS PATTERNS 698
APPENDIX 37.2 SECONDARY MORTGAGE MARKETS OVERSEAS 701
CHAPTER 38: SMALL BUSINESS FINANCE 712
APPENDIX 38.1 GOVERNMENT FINANCIAL ASSISTANCE FOR SMALL BUSINESS OVERSEAS 735
CHAPTER 39: RURAL FINANCE 740
CHAPTER 40: EXPORTS 751
CHAPTER 41: HOUSEHOLD SECTOR 758
CHAPTER 42: REGIONAL DISTRIBUTION OF FINANCE 767
GENERAL CHAPTER 43: INFLATION AND THE FINANCIAL SYSTEM 773
CHAPTER 44: INFORMATION GAPS IN THE FINANCIAL SYSTEM 782
CHAPTER 45: SUMMARY OF CONCLUSIONS AND RECOMMENDATIONS 792
APPENDIX 1 SECRETARIAT STAFF 857
APPENDIX 2 COMMISSIONED STUDIES AND OTHER ASSISTANCE RECEIVED BY THE COMMITTEE 858
APPENDIX 3 PERSONS OR ORGANISATIONS WHO SUBMITTED EVIDENCE TO THE INQUIRY 860
APPENDIX 4 OVERSEAS ORGANISATIONS AND INDIVIDUALS VISITED, SEPTEMBER-OCTOBER 1980 866
INDEX 869

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Committee of Inquiry into the Australian Financial System & Australia. Parliament. (1981). Australian financial system : final report of the Committee of Inquiry Retrieved August 18, 2022, from http://nla.gov.au/nla.obj-1459673889

MLA citation

Committee of Inquiry into the Australian Financial System and Australia. Parliament. Australian financial system : final report of the Committee of Inquiry Canberra: Government Printer, 1981. Web. 18 August 2022 <http://nla.gov.au/nla.obj-1459673889>

Harvard/Australian citation

Committee of Inquiry into the Australian Financial System & Australia. Parliament. 1981, Australian financial system : final report of the Committee of Inquiry Government Printer, Canberra viewed 18 August 2022 http://nla.gov.au/nla.obj-1459673889

Wikipedia citation

{{Citation
  | author1=Committee of Inquiry into the Australian Financial System.
  | author2=Australia. Parliament.
  | title=Australian financial system : final report of the Committee of Inquiry
  | year=1981
  | section=xxx, 838 pages : illustrations ; 25 cm.
  | isbn=0642889562
  | series=Parliamentary paper (Australia. Parliament) ;
  | issue=PP no. 208 of 1981
  | location=Canberra
  | publisher=Government Printer
  | url=http://nla.gov.au/nla.obj-1459673889
  | id=nla.obj-1459673889
  | access-date=18 August 2022
  | via=Trove
}}

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