The Central Bank Of Australia

There are various categories of banking; these include retail banking, directly dealing with small businesses and persons. Commercial and Corporate banking which offers services to medium and large businesses (Koch & MacDonald 2010). Private banking, deals with individuals, offering them one on one service. The last category is investment banking. These help clients to raise capital and often invest in financial markets. Most global banking institutions provide all these services combined. With all these institutions in existence within the same localities and offering similar services, there is a need to regulate the industry so as to protect the consumer and provide fair working environment for all banks (Du & Girma, 2011).

Today in the money and banking world, the two largest central banks are the Federal Reserve (Fed) and the European Central Bank (ECB). There are many things that make these two entities similar and many things that make them different. Both are effective in their own ways, but which one is more effective. Is one superior than the other? Which central banking entity is more accountable? Looking at the structure of these entities will only help us answer the questions. When it comes down to it, which central banking system would you prefer?

Westpac as the oldest financial institution in Australia operate their business widely. The company expands their core markets of Australia, New Zealand and Pacific around them, where provide a wide range of products and services that meet the needs of customers. Until now, the number of customer members arrived at 12 million customers. It is clear that Westpac would increase the position in financial market.

A Central Bank is a supreme bank in a country which supervises all the economic life of the nation. As the definition states “Autonomous or semi-autonomous organization entrusted by a government to, administer certain key monetary functions”, these banks have a wide range of activities, such as; implementing specific goals such as currency stability, low inflation rates and full employment. Central banks acts as the banker of the government helping in regulating monetary and financial stability, and developing stable payment system. The first central bank was found in the world was the Swedish Riksbank, founded in 1668. Second bank was Bank of England found in 1964, by William Paterson to finance a war. They became a vital part of the world today.

The RBA is also the bank for the banking system, meaning that it supplies its money for the financial institutions of Australia. In addition, they are also the banker, agent and advisor to the federal government as well as supplying financial data. In desperate times, the RBA is a last resort lender of money, if all other options are unable to occur. Incidentally, they control Australia’s international reserves and implement Australia’s monetary policy, Overall, the Reserve Bank of Australia plays a vital part in regulating Australia’s financial markets as they work to maintain a strong financial system.

As a result, risk, compliance and audit programs at many banks may have to focus more attention on regulatory compliance when it comes to consumer protection rules and vendor information security requirements.

Westpac is an institution that offers both banking and other financial services. The firm has positioned itself in such a manner that it offers wholesome financial services to both groups and individuals. Its services are not limited to the traditional banking services. The firm specializes in the provision of sound financial advice the suits the interest and goals of its clients. The firm is headquartered in Sydney, Australia. Westpac offers an investment management package and discount broking services among other related products and services. It is pertinent to point out that Westpac has become successful in its provision of superannuation services.

Regulation is design to control and govern conduct by authority that has the power to oversee how financial statement have been prepared and enforce compliance with regulatory requirements (Deegan 2009, p.59). In recent years, there have been changes in the New Zealand regulatory requirements for external financial reporting. External financial reporting in New Zealand is regulated by the legislation, Accounting standards and the Financial Markets Authority. The changes to New Zealand regulation is to the Financial Reporting Act 2013 which will replace the Financial Reporting Act 1993 and would come into effect on 1 April 2014. The Financial Reporting Act applies to all reporting entities (Deegan & Samkin, 2013). This new act will see that

According to Nick Holdsworth, executive general manager for enterprise services Commonwealth Bank, (Ry Crozier, Inside the Commonwealth Bank data centre) CBA network infrastructure consists of several IT Zones including two main corporate data centres located in Sydney and several satellite data centres affiliated with the groups controlled by third party, all across the world; definitely with very strict control mechanism.

ANZ is one of four major Australian-based banks and is the largest bank and company in New Zealand. Headquartered in Melbourne, ANZ traces its origins to the Bank of Australasia, which opened its first office in Sydney in 1835. The bank established a Melbourne office in 1838, where ANZ 's world headquarters is located today Melbourne. ANZ is a publicly listed company, and was incorporated on 14 July 1977 in Australia (Key Facts ANZ, 2016). ANZ is one of the five largest and most successful listed companies in Australia, and is the number one bank in New Zealand. ANZ have assets of AU$772.1 billion (as at 30 September 2014). ANZ operate in more than 32 countries across Australia, New Zealand, the Pacific, Europe, Dubai, USA and Asia

This is an economic strategic record, which is divided into three components. Section A describes and introduced Commonwealth Bank and Nab Bank concerning the mission, current price methods and the market definition of the Commonwealth Bank and Nab Bank. These banks are the top four biggest banks in Australia, which is delivering monetary offerings. To be trained identifies countless strategic variables, which greatly influence the efficiency and the profitability of the bank. Section B, describes the primary strategic variables that form the part of interior analysis like: interest rates, financial rates, financial ratios, performance, activity ratio, assets, Capabilities, Core expertise. Macroeconomic developments in the same way are used to examine the ability of macroeconomic variables to explain movements in individual banks risk and banks credit risk. Resources kind the essential detail for any organization and hence availability of sufficient resources determines the success of the group. Section C, demonstrates the appropriate idea about the equity markets, credit markets, and management of economic condition of two banks.

National Australia Bank Group (NAB) is a financial services organisation which is one of the four largest financial institutions in Australia in areas of market capitalisation. It was founded on the 4th of October 1858. They have a mission of giving more and taking less. NAB has over 12,400,000 clients, 42,000 people and are operating more than 1,800 stores and services centres worldwide.

Details of the trends in the four major Australian banks for the last five years.

The purpose of the report is to discuss the role of the central bank, the Bank of England. The most important role of the Bank of England, the way it is run to maintain the overall financial stability of the UK economy. For purposes of sustaining the ongoing economic activities. This report will be focusing on the Bank of England role 's in the United Kingdom. One of the many roles of the Bank of England is to ensure that financial institutions do not collapse. The report will briefly discuss the role and definition of the central bank and its executive branch that leads and manage the Bank of England to run smoothly. Moreover, the report will also look into the key role of the central bank. On the other hand, the report will also discuss the issue of the bank of England as the lender of last resort (LOLR), the central function of all the central banks in the world. Apart from that, the monetary policy of the Bank of England will also be discussed in this report. The application of the researches and the search methods in this report varies, which include both the electronic sources are by an electronic journal, Bank of England website, and online newspapers while the books sources are by the textbook, Financial Times guides, research papers and etc. All those sources are deemed to be from reliable sources with definitive and specific references.

In light of these recent developments and proceeding on the basis that the Australia-China FTA will happen, there is a clear need to critically analyse how it will effect Australia’s Financial Services Sector. I will discuss the internationalisation of the RMB and how Australian banks will continue to take a more international outlook. I will discuss how advances in technology will change how the financial services