The increase in AGS and semis also means that the shortage of HQLA securities is not as large as it once was, although there is still a shortage.
Reassessing the Banks' Reasonable Holdings of HQLA Securities To assess the amount of HQLA securities that the banks can reasonably hold, the RBA takes into account the behaviour of other holders of these securities, along with conditions in bond and repo markets. In 2015, a large share of Australian government debt was held by what can be described as ‘buy and hold’ investors.