Non-performance rates in Europe are now around 8 per cent of loans, higher than the US and UK at their peaks, and still rising. The figures also illustrate the good performance of Australian banks during this period. There are a number of reasons for the contrasting performances of the US and European banking systems.
The GSS is currently integrated into the Real Time Gross Settlement system (the RTGS) to facilitate the settlement of government securities transactions and simultaneous recording of the ownership of securities in the depository.