CFR Work Program Overview

The CFR’s collective objective, in promoting financial stability, is to ensure that the financial system supports the economy by providing the financial services that households and businesses rely on, including during periods of economic and financial market stress.

These financial services are critical foundations for the economy: they enable households and businesses to save, borrow, invest, insure, make payments, manage risk and plan for the future.

Financial stability is not simply the absence of instability: it requires a financial system that is strong, resilient and prepared for adverse conditions. The CFR aims to support financial stability by:

• Identifying systemic vulnerabilities in the Australian financial system that may give rise to financial instability, and coordinating actions by member agencies to mitigate them;
• Supporting the coordination of financial regulation, seeking to address any areas of overlap or gaps, minimise regulatory costs, and promote competition; and
• Maintaining crisis management readiness to support a whole-of-system response to instances of financial instability, as set out in the Memorandum of Understanding on Crisis Management.