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Banking Industry Country Risk Assessment: Australia Dec 11
Standard & Poors, Dec 2011
Abstract
Economic resilience is 'very low risk', supported by a diversified, high-income, and flexible economy--factors that reduce the risk of significant and sustained downturns. Institutional framework is 'very low risk', benefitting from conservative regulations, a strong regulatory track record, and supportive governance framework. Competitive dynamics is 'very low risk', reflecting the banking industry's conservative risk appetite, stable industry structure, and absence of market distortions. System-wide funding is of 'intermediate risk', reflecting the banking system's significant reliance on net external borrowings, and limited support from core customer deposits. Economic imbalances are of 'intermediate risk', taking into account some (albeit reduced and low) risk of a credit-fuelled real estate price bubble, combined with high external debt and weak external liquidity. Credit risk in...
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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