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‘business’
Public finance of Australia
In Australia 1966 adopted a decimal monetary system. Australian dollar issued by the Reserve Bank of Australia, which regulates the rates, oversees the financial system.
In recent years, regulation of the banking sector is gradually weakened. For example, with 1983 foreign banks were allowed to conduct operations in Australia, and gradually reduced or erased the fundamental differences between different types of banks and between banks and other financial institutions, such as life insurance companies, construction companies and pension funds.
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