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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 379.91+0.4%4:00 PM EST
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To: energyplay who wrote (66152)9/18/2010 3:59:47 AM
From: elmatador  Read Replies (1) of 217674
 
For all their strengths, Australia's major banks also have a glaring structural weakness. They don't have enough deposits, so they rely on wholesale borrowings, much of it from overseas, to fund about half their lending.

This is fine in normal times, but as the financial crisis accelerated through September 2008, it soon became apparent that wholesale borrowing markets were shutting down. Australian banks faced the threat of not being able to fund their day-to-day activities.

smh.com.au
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