Australia's financial sector and the condition of the real economy remain favorable by international comparison, Malcolm Edey, Reserve Bank of Australia's Assistant Governor (Financial System) said Thursday. In a keynote address to the International Swaps and Derivatives Association (ISDA) Conference, Edey said the Australian regulators are closely engaged with ongoing international work on the recovery and resolution of financial market infrastructure. The over-the-counter derivative markets are closely monitored, he observed. The Australian agencies expect additional assessments will be undertaken over the next year or so, in order to monitor the domestic market's progress in making the transition to central clearing, along with the other G-20 commitments around OTC derivatives reforms. In the near term, the priority for any recommendations around mandatory obligations is likely to be trade reporting, he said.