Australia an emerging market

The Australian Prudential Regulation Authority yesterday said in a media release that it and the Reserve Bank of Australia would join an enlarged governance body for the Basel Committee of the Bank for International Settlements.

Financial regulators from six other countries will join APRA and RBA in having a greater say in the work of the BIS on banking regulation. They are from Brazil, China, India, Korea, Mexico and Russia, APRA said in its media release.