If we allowed such a situation to materialise, the impact on banks and investors would be much more severe than the impact our measures are said to have. 2. The impact of regulation  Alongside monetary policy, the new regulatory environment is a second key policy parameter affecting market functioning.
There are now 86 entities connected to the NPP, including 74 that are indirectly connected via a direct NPP participant. There are at least six non-ADI fintechs that are using the NPP's capabilities to innovate and provide new services to customers. All up, approximately 66 million Australian bank accounts are now able to make and receive NPP payments.