RBA launches probe into Oz banking outages

RBA launches probe into Oz banking outages

Australia's central bank is preparing a crackdown on operational disruptions at the country's leading banks following a series of major outages in retail payment systems and Internet banking sites. The RBA's intervention comes as Westpac warned customers that it was experiencing intermittent problems with its Web site.

ACRI – Governor of the Reserve Bank

The Australia-China Relations Institute (ACRI) and the University of Technology Sydney (UTS) welcomed the Governor of the Reserve Bank of Australia, Philip Lowe, to deliver an address in the Great Hall, UTS. Mr Lowe spoke on the bank’s assessment of China’s economic performance and financial system, and the implications for Australia.

Following his address, Mr Lowe was interviewed by Professor Bob Carr, ACRI Director.

This event was made possible with the kind support of Virgin Australia.

Philip Lowe

Philip Lowe is Governor of the Reserve Bank of Australia.

Mr Lowe holds a PhD from the Massachusetts Institute of Technology and a B.Comm (Honours) in Economics/Econometrics from the University of New South Wales. He has authored numerous papers, including on the linkages between monetary policy and financial stability. He commenced as Governor on 18 September 2016.

He is Chair of the Reserve Bank Board and Payments System Board, and Chair of the Council of Financial Regulators. He is a member of the Financial Stability Board. Prior to his current role, he held the positions of Deputy Governor, Assistant Governor (Economic) and Assistant Governor (Financial System). He also spent two years at the Bank for International Settlements working on financial stability issues.

Mr Lowe is Chair of the Financial Markets Foundation for Children and a director of The Anika Foundation.

Mr Lowe is a signatory to The Banking and Finance Oath.


VyStar says you can access your account in person as online outage continues

All scheduled payments will be payed as planned, the bank said.

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Wells Fargo customers face outages when banking online and with app

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