•  Lastly, it identifies some of the implications of these influences. For example, it links changes in the competitive advantage of banks in raising deposits to changes in the nature of the loan origination process, the length of the financial intermediation “chain”, and the overall cost of intermediation.
Daniel Mulino’s paper, “Improving Australia’s Financial Infrastructure”, provides a comprehensive overview of what the Australian financial system does well and summarises current and prospective issues. •  While Daniel notes that the sector performs well in supporting the economy, he argues there are a number of issues that are worth further exploration.