I would also like to mention a couple of new payment-related services underpinned by advances in payments technology and how they may benefit business customers, including the government. Let me start with some background on the Reserve Bank's banking services to set the scene. Background There are two components to the banking services that the Reserve Bank provides the Australian Government.
The sector as a whole has large liquidity buffers, most households have substantial equity in their housing assets, and lending standards in recent years have been more prudent and have built in larger buffers for interest rate increases.