The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Wayne Swan

Wayne Swan

Deputy Prime Minister and Treasurer

3 December 2007 - 27 June 2013

12 November 2008

NO.127

Treasurer to Hold Meetings in New York

Today I will hold meetings with key financial market participants and the New York Federal Reserve.

I will meet Ms Christine Cumming, Vice President of the New York Federal Reserve to discuss the current state of US financial markets, the lessons learned from the global financial crisis and what further reforms may be necessary to strengthen the global financial architecture.

I will also meet with Mr Robert E. Rubin, Chairman and Director of the Executive Committee, Citigroup. Mr Rubin served as US Treasury Secretary in the Clinton Administration during the Asian Financial Crisis. Mr Rubin is also a member of President-elect Barack Obama’s Transition Economic Advisory Board.

I look forward to meeting with Mr Rubin to discuss the recent developments in the global financial crisis and its impact on the global economy.

I will also take the opportunity to emphasise the strength of the Australian financial system and regulatory structures in my meetings with financial sector participants.

I will also talk about the strengths in the Australian economy and the measures taken by the Rudd Government to support growth, to protect households, businesses and jobs, and to strengthen our financial system.

While Australia is not immune from the global financial crisis, our economy and financial system have performed better than almost any other developed economy - an important message to convey to investors and financial market participants.

While in New York, I will also attend the American- Australian Association’s 60th Anniversary Benefit Dinner. This will provide an excellent opportunity to meet with key figures in the Australia US bilaterial relationship.

WASHINGTON D.C.
12 November 2008