The Australian government uses the “four pillars” policy to prevent mergers and acquisition between the four major banks. According to the Australian government, it is a long-standing policy and not a formal regulation. Industry analysts believe that this policy reflects the unpopularity of mergers and acquisition in Australia. Some of them believe that the policy works against the country’s interests and is built upon economic fallacies. However, all the four major banks were in the list of top ten banks in the world in 2009, with several major global banks struggling to cope up with the global financial crisis. According to a report from US based Global Finance Magazine, Australia banks are some of the safest in the world. The magazine came to this conclusion after a thorough analysis of total assets and long term credit ratings from Standard and Poor’s, and Moody’s. Those banks that had a tight grip on their risk exposure well before the financial crisis topped the list, according to the magazine. Many industry analysts believe that the improving Australian economy will support the growth of banks.