It remains a big part of the G20 agenda, with some important milestones to be passed this year. In Australia, our crisis experience was not as wrenching as for some other places. Our supervisory framework stood up to the test. Our key institutions proved to be robust and generally prudent behavior of our financial institutions stood us in good stead.
Finally, we issued amendments to provide banks and quasibanks (QBs) more flexibility in issuing bonds and commercial papers. These proactive measures are important as demand for infrastructure picks up and gains traction. Complementing capital market development initiatives, we are also further liberalizing and rationalizing foreign exchange (FX) rules in order to reduce the cost of doing business and facilitate job-generating investments.