Australia's banks are not immune!
(Above) The profits of Australia’s Big Four banks have effectively doubled since the 2008 global financial crisis, but in an economy that has only marginally expanded; only the growth in the banks’ frenetic gambling in derivatives matches their declared profits.
(Above) Australian Banks' Derivatives, June 2009-March 2015.
(Above) Australian Banks' Derivatives, June 1989-March 2015.
(Above) Australian banks' derivatives to Sept. 2014.
Australia's Gross Foreign Debt to Sept. 2011
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Australian Banks' Derivatives. Updated (2011-2012)
The derivatives exposure of Australia’s big four banks, contrasted to Assets and Deposits, as disclosed in their 2012 Annual Reports. The one exception is CBA, which stopped disclosing its derivatives exposure after its 2011 Annual Report. The CEC asks the question: What is CBA hiding? (Click here for more)
Australian Banks' Derivatives. Updated (2010-2011)
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(Above) Australia's banks' combined exposure to toxic derivatives obligations has climbed to $20 trillion.
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(Above) The collapse of the property bubble will force a sharply downward revaluation of CBA’s lending
assets, of as much as $150 billion, or even more (dotted line). Take that away from its balance
sheet, and it is bankrupt.
(Above) Protect the deposits from the derivatives: The trillions in derivatives puts bank deposits at risk,
but without Glass-Steagall
the government is forced to support both.
The Cause of the Financial Crisis