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Australia & New Zealand Banking Systems: Equipped for Investment-Grade Stability Oct 04
Standard & Poors, Oct 2004
Abstract
In several Western developed economies, namely the U.S., the U.K., Ireland, Spain, and Australia, key leading indicators point to potential stresses in their financial systems. Looking at the strengths and weaknesses of the banking systems in Australia and New Zealand, we conclude that these two systems would be resilient to a moderate economic or bank industry downturn. A confluence of factors over recent years has raised questions about the ongoing health of the Australian banking sector. These factors include the strong asset growth and increasing reliance on external liabilities by banks, higher private-sector indebtedness, and strongly increasing house prices, the latter now tapering off or decreasing (see charts 1 & 2). 'Although the banking sector currently is in good shape,...
Companies mentioned in this report are: National Australia Bank Ltd.,Australia and New Zealand Banking Group Ltd.,Westpac Banking Corp.,Commonwealth Bank of Australia,Bank of New Zealand,Bank of Western Australia Ltd.,Suncorp-Metway Ltd.,Bank of Queensland Ltd.,Adelaide Bank Ltd.,ASB Bank Ltd.,St.George Bank Ltd.,ANZ National Bank Ltd.,Bendigo and Adelaide Bank Ltd.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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