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Questions and Answers
What was the purpose of deregulating Australia's banking industry in the 1970s?
To allow foreign banks and alternative financial institutions to compete with Australian banks.
What types of financial institutions arose as a result of the deregulation?
Building societies, credit unions, and superannuation funds.
What regulatory authority oversees authorised deposit-taking institutions (ADIs)?
The Australian Prudential Regulation Authority (APRA).
What is the main function of ADIs?
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What event in 2019 is expected to bring about further changes in the banking industry?
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