Australian dollar denominated liquid assets are now equivalent to about 7 per cent of banks’ total assets, up from around 1 per cent in early 2008 (Graph 3). If the CLF is added in, the current figure is around 15 per cent. There have also been significant changes on the liabilities side of the balance sheet.
The Community Lisbon Programme will be complemented by the introduction of national action plans for growth and jobs, which the Member States will present this autumn. 1  See ECB Monthly Bulletin, “Long-term and short-term nominal interest rates in the largest euro area countries from a historical perspective”, p. 29-31, August 2005.