Mr Debelle himself was seen as the most likely successor for current Governor Philip Lowe until he resigned last week to take up the role of chief financial officer at billionaire Andrew Forrest's Fortescue Future Industries
FINSIA CEO and Managing Director Chris Whitehead Chartered Banker F FIN said he was delighted to see Ms Bullock step in to deliver a speech at the signature event in Sydney in May where she will outline the RBA's upcoming priorities.
"The Regulators has always been a date for the diaries for those interested in what's on the agenda in the regulation," he said.
"With the inclusion of AUSTRAC alongside the RBA, APRA and ASIC this year, we will be getting even more insights at the event, which is also a great networking opportunity.
"And to have Michele giving us an update on behalf of the RBA is excellent news, especially given her focus on digital currencies and the housing market."
Ms Bullock joins Australian Prudential Regulation Authority Chair Wayne Byres SF FIN, Australian Securities & Investments Commission Chair Jospeh Longo, AUSTRAC Chief Executive Nicole Rose at the lunch on May 13.
In her role as assistant governor where he has been since 2010, Ms Bullock has been the lead on the RBA's testing of a Central Bank Digital Currency which is being done by Malaysia, Singapore and South Africa. She is also heavily involved in oversight of the housing market.
In her latest official RBA speech in October, Ms Bullock highlighted how the unprecedented monetary and fiscal support to the Australian economy through the pandemic helped build a bridge – but warned about a possible housing bubble.
“The strong recovery in the housing market is part of that bridge,” she said.
“But with the increase in housing prices and housing debt, risks to financial stability could be building.
“Even though the banks have strong balance sheets and lending standards are being maintained, there is a risk that in this environment, households will become increasingly indebted.
“A high level of debt could pose risks to the economy in the event of a shock to household incomes or a sharp decline in housing prices. It is these macro-financial risks that warrant close watching.
“Whether or not there is need to consider macro-prudential tools to address these risks is something we are continually assessing.”