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RBA Assistant Governor calls for debate on profitability of financial sector

26 September 2012

Society needs to debate the rate of profitability in the financial sector, Dr Guy Debelle, Assistant Governor (Financial Markets) said at Deakin University's Richard Searby Oration.

In his speech, Credo et Fido: Credit and Trust, Dr Debelle said the crucial role played by the financial sector in the economy meant that it enjoyed a level of support not present for other sectors in the economy.

Read and listen to the full speech here

News facts
  • Trust is key to the operation of financial markets
  • Lazy trust contributed to the financial crisis and deep mistrust and a balkanisation of the financial system in Europe has resulted
  • Without trust, the process of intermediation and credit provision will be greatly curtailed. In turn, this will impede the path to global economic recovery with costs to all.

Media contact

RBA Media

02 9551 9720

or Sandra Kingston
Deakin Media Relations
03 9246 8221/ 0422 005 485
sandra.kingston@deakin.edu.au

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26th September 2012