Analysis

Australia shouldn’t squander its super-sized funding advantage

There is no shortage of capital in the financial system. The challenge is to make sure it’s deployed in a way that works for the entire economy.

Jonathan ShapiroSenior reporter

Aug 23, 2022 – 5.00am

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Australia’s financial system is undergoing a dramatic transformation from one dominated by the big four banks that control $4 trillion of assets to one that is increasingly influenced by the $3.4 trillion pool of superannuation assets.

As super assets will eventually eclipse banking assets, the debate about how the sector can better serve the Australian economy by boosting its role as a lender to businesses has become more crucial.

Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney.