Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

In the event that we needed to respond, I can guarantee that the government would move quickly to ensure the stability and security of Australia's banking system. But that is not the situation we are in. The regulators advise us that the banks are well capitalised with good liquidity. They are well led, they are profitable and they are engaged with regulators all the time. The government remains absolutely aware of the issues overseas and is engaged with the banking system, the regulators and other stakeholders to ensure that remains the case. If there were any concerns, the government would respond quickly.