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Australia’s Council of Financial Regulators (CFR), in its latest report, said the outlook, including the nature and speed of the expected recovery, remains uncertain.

Additional takeaways

“Financial institutions entered with a high level of resilience, will continue to experience the flow-on effects of stress.”

“Encourage institutions to make use of their capital buffers to continue to support businesses and households.”

“Economic activity is now beginning to recover in some sectors.”