关于澳洲资本市场
ABOUT THE AUSTRALIAN CAPITAL MARKETS

澳⼤利亚⾦融体系由资本市场和货币市场两⼤块组成。澳洲的⾦融机构包括授权存款机构（ADI）、非银⾏⾦融机构（NBFI），保险（⼈寿和⼀般保险），养老⾦和个⼈投资者组成。澳⼤利亚的资本市场包括债券、股票和衍⽣品的市场和投资者以及⾦融中介。澳⼤利亚的货币市场主要是⽀付系统产品，包括现⾦、⽀票、⼤额存单以及银⾏票据和商业票据。

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⾦融系统的参与者包括商业银⾏、投资银⾏、⾦融公司、建筑或合作社、信⽤社、友好协会、非银⾏⾦融机构（NBFI）、退休⾦和批准的存款基⾦、公共单位信托、现⾦管理信托、抵押贷款发起⼈、保险公司、机构基⾦投资和债务融资。

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澳洲的⾦融机构包括商业银⾏、保险公司、非银⾏⾦融机构和退休⾦计划等组成。澳⼤利亚的银⾏业以“四⼤银⾏”为主，英联邦银⾏COMMONWEAL BANK、⻄太平洋银⾏WESTPAC BANK、澳⼤利亚和新⻄兰银⾏集团ANZ BANK、澳⼤利亚国家银⾏NAB等四⼤银⾏事澳⼤利亚⾦融体系的⽀柱。此外有⼏家⼩型银⾏在澳洲全国各地都有业务，还有⼤量其他⾦融机构，如信⽤社等。

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澳⼤利亚的保险市场分为三个部分：⼈寿保险、⼀般保险和健康保险。⼤多数⼤型保险公司只专注于⼀种保险。也有⼤型的保险公司提供⼈寿保险、⼀般保险和健康保险等更通⽤的⾦融服务。

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澳⼤利亚实⾏强制性退休⾦计划，养老⾦受政府⽀持和⿎励。澳洲的公司必须为员⼯按照⼯资额缴纳⼀定比例的养老⾦。澳洲的养老⾦管理机构银⾏和保险公司管理的居多，⼤多数中产阶级以上的退休基⾦都是⾃我管理的。澳洲的养老⾦基⾦受到严格监管。

The Australian financial system consists of the capital market and the money market. Financial institutions in Australia include authorised deposit-taking institutions (ADIs), non-bank financial institutions (NBFIs), insurance (life and general insurance), pensions, and individual investors. 

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The capital market in Australia includes markets for bonds, stocks, derivatives, investors, and financial intermediaries. The money market mainly consists of payment system products, including cash, checks, large deposits, and bank and commercial bills.

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Participants in the financial system include commercial banks, investment banks, finance companies, building societies or cooperatives, credit unions, friendly societies, non-bank financial institutions (NBFIs), retirement and approved deposit funds, public unit trusts, cash management trusts, mortgage originators, insurance companies, institutional fund investors, and debt financiers.

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Financial institutions in Australia encompass commercial banks, insurance companies, non-bank financial institutions, and retirement plans. The Australian banking industry is dominated by the "big four" banks: Commonwealth Bank, Westpac Bank, ANZ Bank, and NAB, which form the pillars of the Australian financial system. Additionally, several smaller banks operate across Australia, alongside numerous other financial institutions such as credit unions.

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The Australian insurance market is divided into three segments: life insurance, general insurance, and health insurance. Most large insurers specialise in one type of insurance, though some provide broader financial services including life, general, and health insurance. 

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Australia mandates a compulsory retirement savings plan supported and encouraged by the government. Companies in Australia must contribute a set percentage of employees' wages to retirement savings. Retirement funds in Australia are primarily managed by banks and insurance companies, with many middle-class and higher earners opting for self-managed funds. Retirement funds in Australia are subject to stringent regulation.

澳⼤利亚的⾦融体系的监管主要由澳⼤利亚证券和投资委员会（ASIC）和澳⼤利亚审慎监管局（APRA）组成。

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ASIC负责市场完整性和消费者保护，以及对某些⾦融机构（包括投资银⾏和⾦融公司或NBFI）的监管。⼀般ASIC监管立场是，在澳⼤利亚从事⾦融服务业务的法⼈必须持有ASIC向该⼈颁发的澳⼤利亚⾦融服务许可证，或属于许可证豁免范围内的事项。

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APRA负责对授权存款机构ADI（包括银⾏、建筑协会、信⽤合作社、友好协会以及某些信⽤卡发卡机构）、⼈寿和⼀般保险公司以及养老⾦基⾦的许可和审慎监督。APRA为银⾏发布了符合巴塞尔II准则的资本充⾜率的准则。所有受APRA监管的⾦融机构都必须定期向APRA报告。某些⾦融中介机构，如投资银⾏（不作为ADI运营）根据《银⾏法》不受APRA监管，不受APRA的审慎监督。⼤多数投资银⾏是根据2001年《⾦融部⻔（数据收集）法》注册的。该法案要求注册⾦融公司向APRA提供统计信息。

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澳⼤利亚的央⾏是澳⼤利亚储备银⾏，澳洲联邦储备银⾏负责⼤多数⽀付系统和货币政策的制定，澳洲联邦储备银⾏的主要的职责是制定货币政策，来保持稳定的低通胀率，维持⾦融体系稳定，促进⽀付系统的安全和效率，负责管理澳洲联邦的外汇储备，发⾏纸币。

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澳洲联邦储备银⾏的最⾼权⼒机构是由九⼈组成的澳联储理事会，每个⽉（⼀⽉份除外）第⼀个星期⼆澳洲联邦储备银⾏召开会议，澳联储理事会将根据CPI消费价格指数情况，讨论决定是否加息或减息。

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Australia's financial system is primarily regulated by the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA).

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ASIC oversees market integrity and consumer protection, regulating financial institutions such as investment banks and non-bank financial institutions (NBFIs). Generally, ASIC mandates that entities providing financial services in Australia must hold an Australian Financial Services License issued by ASIC or qualify under licensing exemptions.

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APRA is responsible for the licensing and prudential supervision of authorized deposit-taking institutions (ADIs),

including banks, building societies, credit unions, friendly societies, and certain credit card issuers, as well as life and

general insurance companies, and retirement funds. APRA has issued guidelines for capital adequacy ratios for banks in line with the Basel II framework. All financial institutions regulated by APRA are required to report to APRA regularly.

Certain financial intermediaries, such as investment banks (operating without ADI status), are not subject to prudential

supervision by APRA under the Banking Act. Most investment banks are registered under the Financial Sector

(Collection of Data) Act 2001, which requires registered financial companies to provide statistical information to APRA. 

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The Reserve Bank of Australia (RBA) is Australia's central bank, responsible for most payment systems and monetary policy formulation. Its primary responsibilities include formulating monetary policy to maintain stable low inflation rates,ensuring financial system stability, promoting the safety and efficiency of the payment system, managing Australia's foreign exchange reserves, and issuing currency.

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The highest governing body of the RBA is the Reserve Bank Board, which consists of nine members. The board meets

on the first Tuesday of each month (except January) to discuss and decide on whether to raise or lower interest rates based on the Consumer Price Index (CPI) situation.

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