The stock exchange and the futures exchange have a comprehensive set of rules that participants must adhere to, and, of course, they are also regulated by ASIC. The banks and insurance companies are regulated by APRA, the payments system by the Reserve Bank, and competition policy is enforced by the ACCC. Underlying all this, are the body of commercial law and the accounting standards.
Even so, the public is understandably concerned about the cost of this program, particularly as most other industries experiencing distress are not receiving comparable assistance. History clearly shows, and recent experience confirms, that – because of the dependence of modern economies on the flow of credit – serious financial instability imposes disproportionately large costs on the broader economy.