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WBC, WESTPAC BANKING CORPORATION
nipper
post Posted: Mar 16 2020, 04:52 PM
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In Reply To: mullokintyre's post @ Mar 16 2020, 04:16 PM

stopped paying attention at homo dice pacem
....
..

..

.found above the fireplace btw




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
mullokintyre
post Posted: Mar 16 2020, 04:16 PM
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In Reply To: nipper's post @ Mar 16 2020, 04:10 PM

You obviously were not reading your Latin Quia Hodie too closely ad ludum. .
Mick



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sent from my Olivetti Typewriter.
 
nipper
post Posted: Mar 16 2020, 04:10 PM
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In Reply To: mullokintyre's post @ Mar 16 2020, 03:57 PM

cattus mortuus ?

(then run over by a Kenworth rig)




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
mullokintyre
post Posted: Mar 16 2020, 03:57 PM
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In Reply To: early birds's post @ Mar 16 2020, 02:21 PM

What I have learned from the past is that you never know the market is turned around until well after the event.
Takes more than one day's rise- beware the recently passed feline rebound.
Mick



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sent from my Olivetti Typewriter.

Said 'Thanks' for this post: nipper  early birds  
 
early birds
post Posted: Mar 16 2020, 02:21 PM
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In Reply To: nipper's post @ Mar 16 2020, 01:29 PM

will market turn around tomorrow??

this is crazy market ever seen. but so far i'm on top of it.
not sure what will wall street reacting , to me i just try to fig it out how big the down side for Dow Spx Dax, . try to work out strong support level of them.





 
nipper
post Posted: Mar 16 2020, 01:29 PM
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In Reply To: early birds's post @ Mar 16 2020, 08:17 AM

On a bigger stage, but keeping with the theme
QUOTE
So when exactly does a coronavirus-triggered corporate market meltdown officially turn into a full-blown financial crisis? That’s a question many market participants, and banks in particular, must be asking themselves.

If there has been any silver lining to the current market shock and the recession that is likely to follow, it is that it hasn’t been a 2008-style banking crisis — of the kind that jumps like a virus between highly leveraged global financial institutions and causes them to bleed dry.

The Dodd-Frank and Basel III regulations that followed in the wake of the subprime crisis were designed to mitigate that risk. Banks, required to hold larger quantities of high-quality assets, were made to do less trading, and more traditional lending.

That worked, up to a point. The virus-induced brake on consumer activity and labour markets, which has in turn triggered a corporate credit run, is what caused the market panic this time, rather than risky trading on the part of global banks.

Today, it is not Wall Street financial institutions, but companies in a variety of industries that are stressed, as a simultaneous supply and demand shock means they need to tap credit lines to pay their bills...

- different pathway, same destination?



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 

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early birds
post Posted: Mar 16 2020, 08:17 AM
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Westpac's acting chief executive Peter King says the big four banks are strong enough to withstand a sharp rise in bad debts and a freeze in credit markets but warned that the biggest issue was how long they can keep afloat business borrowers with no cash flow.

Throwing some of the burden back on to the federal government, Mr King said the crisis "was a real economy issue that needs to be dealt with as a real economy issue," as households and businesses would require unprecedented support.


Westpac's incoming acting chief executive Peter King says the coronavirus crisis is a 'real economy' issue. Louie Douvis

"A bigger focus is how small businesses and consumers, and even big business, navigates during a period of low economic activity,” he told The Australian Financial Review.

Mr King, who took the reigns at the nation's second largest lender after the anti-money laundering compliance scandal led to the resignation of former CEO Brian Hartzer, said the lender was conscious of its role in supporting and sustaining the economy whilst remaining strong.

"We are planning for very tough conditions and hoping for the best. We are gearing up for if people need help – if a small business has cash flows that are impacted or someone has reduced hourly pay and needs help with payments."

RELATED QUOTES
WBCWestpac Banking Corporation
$18.12
0.00

1 year
1 day
Apr 19
Jul 19
Oct 19
Jan 20
15.00
20.00
25.00
30.00

Updated: Mar 16, 2020 – 8.16am. Data is 20 mins delayed.
View WBC related articles
A plunge in economic activity looms in the second quarter, as industries such as tourism, education and entertainment grind to a halt. Westpac like other banks, will have to manage a rise in late payments, whilst remaining open to new lending.

Mr King said that the bank had spent the last decade building capital and liquidity buffers but "now was the time to use those buffers".

“We are not meant to stay at 'unquestionably strong' through all parts of the cycle,” he said.

The 2014 David Murray-led Financial System Inquiry demanded the banks increase the amount of capital held to a level that could withstand losses to unquestionably strong levels.

To meet that definition, Australia's banks were required to rank among the top 25 per cent globally on this measure.

Crisis spills into credit markets
If the banks experience a rise in bad debts, the losses will result in a reduction in capital ratios, potentially to below the stated targets. This week, the Bank of England told UK banks it would relax capital targets as part of a broader support package.

Mr King's comments came after one of the most volatile weeks in financial markets history, that spilled into credit markets.

The cost of insuring against the default of Westpac's five year bonds soared from a little under 30 basis points on February 24 to almost 87 basis points last Friday, a three-fold increase.

National Australia Bank and Macquarie were forced to pull hybrid capital raisings late last week, after two of the worst trading days in the history that meant investors who had subscribed to those offers would face an immediate loss of at least 10 per cent.

On Friday, the Reserve Bank provided a record $8.8 billion of short term financing to the money markets, which the banks tap for funding. That came a day after the Morrison government announced a $17.6 billion fiscal support package.

The Reserve Bank is also expected to roll out a funding facility, similar in nature to the Bank of England's term funding facility, that would encourage the banks to lend to small businesses and households even as interest rates fall to near-zero levels.

Mr King said Westpac had ample 'liquidity' and he, along with the bank's treasurer Curt Zuber had issued long-term debt that does not need to be repaid for several years before the coronavirus induced market panics led credit markets to close.

“The GFC was about banks not being confident with each other – but that is not the case," Mr King said.

"We can sit out for longer periods without dealing with each other. We are well prepared to stay out of the market.”

Years of change
The big four banks are heading into coronavirus well prepared as regulatory changes have forced them to increase their capital levels whilst also upping their holdings of safe assets that can be sold into the market on short notice to fund deposit withdrawals.

The banks have also been forced by regulation to spread the proportion of long-term debt they raise further into the future, reducing the amount they are required to re-finance in any given year.

But Westpac, like other banks, have endured years of rolling scandals and regulatory probes that have led to management upheaval, increased compliance costs, and an erosion of public trust, that culminated in a royal commission.

Mr King said the bank's balance sheet was set up well, and it had an experienced, crisis-hardened staff.

"We have a few people that were in and around in a hands on way during the last crisis. We know the tools and techniques, and the interface with the Reserve Bank and the government are working well.”

Westpac employs over 35,000 staff across Australia and Mr King said the 202-year-old institution was playing its part in relation to the coronavirus "to slow down the spread within the community."

“We have a playbook if we have a positive [coronavirus] result – how we manage those people, how we clean the office and how we communicate to the team – that lines up with government policy."

Mr King said Westpac was thinking about fulfilling the critical capabilities to the economy, That includes “having branches open, ATMs working, internet and digital banking operating, making sure our cyber teams are focused on protecting data at critical points, and keeping lending going.”
===========================
Mr King said Westpac was thinking about fulfilling the critical capabilities to the economy!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


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here comes my guess work
1, King asking Govt. to let WBC off the hook lightly about their money laundering thingy
2, if Govt does that then whole banking sector will be lifted , that will lift asx200 as financial sector provide support for the market

it make sense for Govt to do that with current situation, but it's just my educated guess work. blush.gif
WBC PRICE
if govt didn't do that , market already priced in WBC will be hit hard with fine---they will trade current price, but id Govt, do what i guessed than WBC will shoots up 10--20% in one hit. with current panic situation it is really a posibility.

i hold heaps WBC, so i'm really biased ,

please......DYOR before take any action.


 
nipper
post Posted: Dec 11 2019, 09:15 AM
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In Reply To: early birds's post @ Dec 11 2019, 08:56 AM

half of those would be scalpers, I'd reckon. In and out for a quick profit ..... but a pretty slim offering, in the end.



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
early birds
post Posted: Dec 11 2019, 08:56 AM
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In Reply To: blacksheep's post @ Dec 5 2019, 06:11 PM

seems retail investors see value for WBC at it's current price.
they gave WBC $770m at 24.20,

we might see stock price pop up today!!



 
blacksheep
post Posted: Dec 5 2019, 06:11 PM
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some good news .

All the Banks rallied on the RBNZ review - Final decisions in RBNZ capital review still require $20b increase for banks but composition of capital is softened and banks get 7 years instead of 5 to adapt
- https://www.interest.co.nz/banking/102858/f...nks-composition

Seems there may be another WBC scandal about to be revealed, according to Investigative Journalist Anthony Klan
QUOTE
Anthony KlanVerified account
@Anthony_Klan
****SCOOP****
Massive new Westpac scandal. Billions gouged from 950,000-plus BT superannuation members over decade. Forensic investigation.
Details soon...

https://twitter.com/Anthony_Klan
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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