How was the australian economy affected as a result of gfc

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Problem 1: Investment banks were at the very centre of the Global Financial Crisis (GFC). With reference to the activities of investment banks, outline the ways in which investment banks' involvement in pioneering financial innovations may have contributed to their prominence during the GFC. Explain the role and operation of investment bank in Australia and provide examples.

Problem 2: Representatives from 27 countries agreed to increase their banks' capital requirements in an effort to reduce the risk that mega bank failures will cause future financial crises. How was the Australian economy affected as a result of GFC? What effect Basel III Accord will have on Australian financial institutions?

Reference no: EM132805460

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