How the Aussie banks dodged a bullet

For anyone who forgot to mark their calendar, the Basel III Liquidity Coverage Ratio came into force on January 1st.These new rules are designed to improve the global banking system’s resilience during financial crises. Lenders such as Westpac (ASX:WBC), ANZ (ASX:ANZ), NAB (ASX:NAB) and Commonwealth Bank (ASX:CBA) are now required to hold enough easy-to-sell and safe assets to ensure they can fund their short-term obligations for at least one month should credit markets seize up, as they did in 2009.The simplest way for a bank to satisfy the new regulations is to stash away reserves at the Reserve Bank of...

For anyone who forgot to mark their calendar, the Basel III Liquidity Coverage Ratio came into force on January 1st.

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