Westpac again has been at the forefront of such developments. One product that we are keen to push is the Export Finance Facility where eligible exporters can access bank loans at low interest rates. Unfortunately, for some reason, it has not been used much by exporters and the banks.
Similarly, to strengthen the banking system, countries have introduced systemic risk buffers, in addition to the buffers for globally systemic banks and other important institutions. However, these macroprudential instruments mainly cover lending through the banking sector.