After all, its macroeconomic indicators – particularly its fiscal accounts, which were the main source of concern – were broadly the same (or better) than other countries which had received large IMF funding in recent years, such as Turkey or Brazil.
BIS central bankers’ speeches  3  Table 2 Financial system structure – comparison with Australia (as at December 2010)  New Zealand  Australia  Total financial system assets  $ bn  $ tr  as a percent of GDP  244%  340%  20  54  Foreign branches  10  33  Locally incorporated  10  21  3  12  $ bn  $ tr  as a percent of total financial system assets  80%  58%  as a percent of GDP  195%  197%  as a percent of total bank assets  89%  77%  as a percent of total financial system assets  71%  43%  25%  180%  Number of banks  Domestically owned Total bank assets  Big-4 banks’ assets  Stock market capitalisation (2009) as a percent of GDP Sources: RBNZ, APRA, RBA, World Bank.