Guy Debelle: Liquidity Speech by Mr Guy Debelle, Assistant Governor (Financial Markets) of the Reserve Bank of Australia, at the 27th Australasian Finance and Banking Conference, Sydney, 16 December 2014. *  *  *  Thanks to Jon Cheshire and Sean Dowling for assistance. Today I will talk about the imminent arrival of the revised liquidity regime for the Australian financial sector.
Then I will turn to the lessons of the crisis and the challenges both in the immediate future and at a longer horizon. I wish to focus on the need to reform the current financial architecture. This process is already underway at the global level as the April meeting of the G20 endorsed Financial Stability Board proposals in this domain.