Guy Debelle: Bank funding Address by Mr Guy Debelle, Assistant Governor (Financial Markets) of the Reserve Bank of Australia, to the 24th Annual Finance & Treasury Association Congress, Sydney, 19 October 2011. *  *  *  Thanks to Justin Fabo, Claudia Seibold and Dan Fabbro for their help.
Second, losses incurred by Japanese financial institutions due to the subprime mortgage problem are limited compared to those of U.S. and European financial institutions and Japanese financial markets continue to be stable, which suggests that the functioning of the financial system remains intact. And third, Japan's financial conditions have been accommodative.