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The New Daily

Business

Jacob Shteyman

FORGOTTEN HISTORY: Local banks well positioned to resist overseas storm | History Defined

Stephen Jones Australia United States Anna Bligh Silicon Valley Bank

The strong regulation and capitalisation of Australian banks will bode well, says Stephen Jones. Photo: AAP

Australia’s banks are in a strong position to ward off turbulent conditions overseas, the financial services minister says.

Stephen Jones allayed fears of contagion from US and European banks following the collapse of Silicon Valley Bank and Credit Suisse, crediting stronger regulatory conditions for stronger resilience in the domestic financial market.

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