However, where systemically important banks are concerned, the Reserve Bank needs to be satisfied that any outsourcing undertaken does not compromise their legal, operational, or financial ability to meet their obligations. Although it has not been an issue to date, outsourcing could well become more of an issue for Australia over the next few years.
Efforts are also underway to ensure close cooperation between central banks, supervisory authorities and the ESAs so that risk assessments combine micro and macro-prudential perspectives and are of high quality and rigour.