banks

While our updated numbers imply the banks need to buy about $408bn of government bonds for liquidity purposes over the next few years, it is interesting to see how...

Following APRA's release of its October Monthly Authorised Deposit-taking Institution Statistics, we have updated our estimates of the four major banks' debt funding...

Following the banks' latest results, we have updated our estimates of: (1) the quantum of debt they have to issue to replace the $139bn Committed Liquidity Facility...

Folks are starting to turn their minds to what life looks like after the end of the RBA's bond purchase program. There's a fairly robust consensus that Martin Place...

In the AFR this weekend, I write that financial markets are probably not focussed enough on the fact that Aussie banks unilaterally lifting mortgage rates has huge...

Some of the most compelling long-term investment opportunities to be found today lie within the dynamic and rapidly evolving global emerging market landscape. One of...

In a move that's a bit more aggressive than I had expected, APRA just announced that they will close the CLF (Committed Liquidity Facility).   The CLF will be...

Recent data suggests that APRA and the RBA can shrink the Committed Liquidity Facility (CLF) faster than I had previously figured. The entire point of the CLF was to...

The COVID-shock of 2020 put a spotlight on a design flaw in Australian banking regulations. At a time when governments are borrowing lots of money, and the RBA is...

Australia's banks are allowed to arbitrage global regulatory rules on best-practice liquidity requirements to maximise their returns on equity. This comes at a direct...