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RESERVE BANK OF AUSTRALIA

Financial Stability Review – September 2010

List of tables

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Chapters

Table 1: EU Stress Test Results by Country

Table 2: Foreign Bank Claims on Euro Area Countries

Table 3: World GDP Growth

Table 4: Major Banks' Latest Half-yearly Profit Results

Table 5: Australian Bank Claims on Euro Area Banks

Table 6: Assets of Domestic Funds Management Institutions

Table 7: New Capital Requirements

Boxes

Table A1: Euro Area MFIs' Balance Sheet

Table B1: Financial Sector Inter-linkages

Table 1: EU Stress Test Results by Country
  Number of
institutions
Number of institutions with a Tier 1 capital ratio
in Adverse Scenario(a) of:
<6% 6–6.9% 7–7.9% 8–8.9% 9–9.9% ≥10%
(a) Includes a sovereign risk shock
Source: Committee of European Banking Supervisors
France 4 0 0 0 1 2 1
Germany 14 1 2 2 4 4 1
Greece 6 1 1 1 2 0 1
Ireland 2 0 1 1 0 0 0
Italy 5 0 2 2 1 0 0
Portugal 4 0 1 0 2 0 1
Spain 27 5 9 7 0 2 4
Other 29 0 1 2 5 5 16
Total 91 7 17 15 15 13 24
Table 2: Foreign Bank Claims on Euro Area Countries(a) Ultimate risk basis, as at 31 March 2010, per cent of lending country's total bank assets(b)
Reporting banks
(by headquarter location)
Greece Ireland Italy Portugal Spain Subtotal Euro
area
(a) Based on 24 countries reporting to the BIS
(b) Monetary financial institutions used as a proxy for total bank assets for countries in the euro area and the United Kingdom
Sources: BIS; RBA; Thomson Reuters; central banks
Euro area banks 0.4 0.8 2.0 0.5 1.5 5.1 12.2
of which:              
German 0.4 1.7 1.8 0.4 2.1 6.5 13.0
French 0.7 0.5 4.5 0.4 1.9 7.8 15.7
Dutch 0.4 0.8 1.9 0.4 3.2 6.7 21.8
Belgian 0.2 2.1 2.1 0.4 1.3 6.1 13.9
Spanish 0.0 0.3 0.8 1.8 3.0 5.8
Portuguese 1.6 2.6 0.7 3.8 8.8 13.0
Swiss banks 0.2 0.8 0.7 0.1 0.6 2.4 12.8
UK banks 0.1 1.5 0.6 0.2 1.0 3.5 10.0
US banks 0.1 0.4 0.3 0.0 0.4 1.2 5.1
Japanese banks 0.1 0.2 0.5 0.0 0.3 1.2 5.4
Australian banks 0.0 0.2 0.4 0.0 0.1 0.7 2.0
Table 3: World GDP Growth Year average, per cent(a)
  2008 2009 2010 2011
     
IMF forecasts(b)
(a) Aggregates weighted by GDP at PPP exchange rates unless otherwise specified
(b) Forecasts from the July World Economic Outlook Update
(c) Weighted using GDP at market exchange rates
Sources: CEIC; IMF; RBA; Thomson Reuters
United States 0.0 −2.6 3.3 2.9
Euro area 0.5 −4.1 1.0 1.3
Japan −1.2 −5.2 2.4 1.8
China 9.6 9.1 10.5 9.6
Other east Asia(c) 2.8 0.0 6.5 5.0
India 6.4 5.7 9.4 8.4
World 3.0 −0.6 4.6 4.3
Australia 2.2 1.2 3.0 3.5
Table 4: Major Banks' Latest Half-yearly Profit Results(a) Consolidated global operations
  2009
$ billion
2010
$ billion
Change
$ billion
(a) Half-year to March for ANZ Banking Group, National Australia Bank and Westpac Banking Corporation; half-year to June for Commonwealth Bank of Australia
Sources: Banks' annual and interim reports; RBA
Income
Net interest income 22.3 23.1 0.8
Non-interest income 11.4 10.7 −0.7
Expenses
Operating expenses 15.1 15.7 0.6
Bad and doubtful debts 6.2 4.7 −1.5
Profit
Net profit before tax 12.3 13.4 1.1
Net profit after tax and minority interests 8.6 9.9 1.3
Table 5: Australian Bank Claims on Euro Area Banks Ultimate risk basis, as at 31 March 2010
    Share of:
  Foreign claims
$ billion
Total foreign claims
Per cent
Total assets
Per cent
Total capital
Per cent
Source: APRA
Greece 0.0 0.0 0.0 0.0
Ireland 1.7 0.3 0.1 1.0
Italy 1.0 0.2 0.0 0.6
Portugal 0.0 0.0 0.0 0.0
Spain 0.8 0.2 0.0 0.5
Euro area 46.9 8.7 1.7 28.6
Table 6: Assets of Domestic Funds Management Institutions(a) June 2010
      Six-month-ended
annualised change
  Level
$ billion
Share of total
Per cent
Dec 09
Per cent
Jun 10
Per cent
(a) Excluding funds sourced from overseas, government, other trusts, general insurance and ‘other’ sources
(b) Includes non-financial assets
(c) Includes superannuation funds held in the statutory funds of life insurers
(d) Cash management trusts, common funds and friendly societies
(e) Superannuation funds plus an estimate of the superannuation assets held in the statutory funds of life insurers
Sources: ABS; RBA
Superannuation funds (consolidated) 872 65 31.5 3.4
Superannuation funds (unconsolidated) 1035   30.9 2.4
of which:        
Equities 315 30 55.4 −9.5
Assets overseas 173 17 32.7 2.9
Cash and deposits 171 17 1.6 11.4
Units in trusts 144 14 32.7 1.0
Other assets in Australia(b) 106 10 8.1 19.3
Short-term securities 58 6 46.7 4.4
Long-term securities 57 5 26.7 22.7
Loans and placements 10 1 29.4 12.0
Life insurers(c)(consolidated) 177 13 24.8 −4.9
Public unit trusts (consolidated) 256 19 8.3 −2.6
Public unit trusts (unconsolidated) 295   15.0 −0.8
of which:
Listed property trusts 123 41 −0.4 −0.2
Unlisted equity trusts 100 34 70.5 2.0
Listed equity trusts 45 15 −10.9 −6.0
Other trusts 28 9 −1.8 −4.2
Other managed funds(d)
(consolidated)
46 3 −23.0 −8.9
Total (consolidated) 1,351 100 22.9 0.7
of which:        
All superannuation assets(e) 1,030   30.8 2.0
Table 7: New Capital Requirements Per cent
  Common equity Tier 1 capital Total capital
(a) Common equity or other fully loss-absorbing capital
(b) The proposed leverage ratio will be tested using Tier 1, but the impact of using common equity and total capital will also be tracked
Source: GHOS
Minimum 4.5 6.0 8.0
Conservation buffer 2.5    
Minimum plus conservation buffer 7.0 8.5 10.5
Counter-cyclical buffer range(a) 0 to 2.5    
Leverage ratio   3.0(b)  
Table A1: Euro Area MFIs' Balance Sheet Claims on and liabilities to euro area residents, per cent of total, as at July 2010(a)
  Greece Portugal Spain Euro area
(a) The data cover consolidated transactions of MFIs' operations within the country
(b) Includes financial corporations and general government
Source: ECB
Assets
Loans 74 66 70 65
Household 29 28 27 18
of which:        
Housing 18 22 21 13
Other personal 12 5 7 5
Business and other(b) 45 39 43 47
Securities other than equities 14 21 17 18
Government
10 5 5 6
Other
3 17 12 13
Other assets 12 12 13 16
Liabilities
Deposits 82 68 70 60
Debt securities 4 18 13 18
Other 6 5 8 15
Equity 9 9 9 7
Table B1: Financial Sector Inter-linkages(a) Per cent of total exposure to the domestic financial sector as at 30 June 2010
  Exposure of:
  APRA-regulated
intermediaries
Other financial
intermediaries(c)
  Banks and CUBS(b) Pension funds Insurance  
(a) Excludes the RBA and central borrowing authorities
(b) Figures for CUBS are estimated from the ABS category of ‘other depository corporations’, which includes CUBS, RFCs and other depository corporations
(c) Comprising RFCs, other depository corporations, investment funds, securitisers and other financial corporations (including some public sector bodies)
Sources: ABS; APRA; RBA
Exposure to:
Banks and CUBS(b)
- 46 29 75
Pension funds 0 - 0 1
Insurance 7 28 - 3
RFCs and other depository corporations 26 1 2 4
Money market financial investment funds 0 2 1 0
Other investment funds 8 17 65 8
Securitisers 57 2 2 5
Other financial corporations
(including some public sector bodies)
2 3 2 4
Memo item: exposure to the domestic financial sector as per cent of total
financial assets
12 58 64 23