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RESERVE BANK OF AUSTRALIA

Financial Stability Review – September 2011

List of tables

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Chapters

Table 1.1: Foreign Bank Claims on Euro Area Countries

Table 1.2: Core Tier 1 Capital Ratios for Banks in Selected Euro Area Countries

Table 2.1: Major Banks' Half-yearly Profit Results

Table 2.2: Australian Bank Claims on the Euro Area

Table 2.3: Assets of Domestic Funds Management Institutions

Table 4.1: Transition to Basel III Capital Requirements in Australia

Boxes

Table A1: EU Banks' Net Sovereign Debt Exposures

Table B1: Top 10 Global Reinsurers

Table 1.1: Foreign Bank Claims on Euro Area Countries(a) Ultimate risk basis, as at 31 March 2011, per cent of lending country's total bank assets(b)
Reporting banks
(by headquarter
location)
Greece Ireland Italy Portugal Spain Subtotal Total
euro area
(a) Based on 24 countries reporting to the BIS
(b) Monetary financial institutions' assets 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 0.2 0.5 1.6 0.4 1.1 3.9 10.5
of which:              
Belgian 0.1 1.7 1.6 0.2 1.4 5.1 12.9
Dutch 0.2 0.6 1.5 0.2 2.4 4.9 18.2
French 0.5 0.3 3.8 0.3 1.3 6.2 13.2
German 0.2 1.0 1.5 0.3 1.6 4.6 10.9
Italian 0.1 0.3 0.1 0.6 1.0 10.6
Portuguese 1.3 0.7 0.4 3.5 5.9 9.5
Spanish 0.0 0.2 0.7 1.8 2.8 5.4
Swiss banks 0.1 0.5 0.7 0.1 0.8 2.2 12.6
UK banks 0.1 1.2 0.6 0.2 0.9 3.1 9.3
US banks 0.1 0.3 0.3 0.0 0.3 1.0 5.1
Japanese banks 0.0 0.2 0.4 0.0 0.2 0.9 4.4
Australian banks 0.2 0.1 0.1 0.3 1.8
Table 1.2: Core Tier 1 Capital Ratios for Banks in Selected Euro Area Countries
  Minimum requirement
Per cent of risk-weighted assets
Supervisory deadline
(a) Minimum requirement is 10 per cent for those banks which are not listed or are more reliant on wholesale funding
Sources: BCBS; national authorities
Cyprus 8 July 2011
Greece 10 January 2012
Ireland 10½ March 2011
Portugal 9 and 10 End 2011 and end 2012
Spain 8 or 10(a) September 2011
Memo items:    
Basel III common equity Tier 1 3½ and 4½ January 2013 and 2015
Basel III common equity Tier 1
plus conservation buffer
7 January 2019
Table 2.1: Major Banks’ Half-yearly Profit Results(a) Consolidated global operations
  2010
$billion
  2011
$billion
  Change
$billion
(a) Half year to March for ANZ, NAB and Westpac; half year to June for CBA
Sources: RBA; banks' annual and interim reports
Income
Net interest income 23.1   24.2   1.1
Non-interest income 10.7   11.0   0.4
Expenses
Operating expenses 15.7   16.5   0.8
Bad and doubtful debts 4.7   2.6   −2.1
Profit
Net profit before tax 13.4   16.1   2.7
Net profit after tax and minority interests 9.6   12.4   2.8
Table 2.2: Australian Bank Claims on the Euro Area(a) Ultimate risk basis, as at March 2011
  Total of which:
$billion Per cent
of assets
Banks
Per cent
of assets
Public
sector

Per cent
of assets
Private
sector

Per cent
of assets
(a) Australian-owned banks and subsidiaries of foreign-owned banks; exposures include those to foreign-owned banks booked in Australia
Source: APRA
Euro area 55.9 1.9 1.2 0.2 0.5
of which:          
Greece, Ireland, Italy,
Portugal and Spain
7.8 0.3 0.1 0.0 0.2
France, Germany and
the Netherlands
44.1 1.5 1.1 0.2 0.3
Table 2.3: Assets of Domestic Funds Management Institutions June 2011
Six-month-ended
annualised change
  Level
$billion
Share of total
Per cent
Dec 10
Per cent
June 11
Per cent
(a) Includes superannuation funds held in statutory funds of life insurers
(b) Cash management trusts, common funds and friendly societies
Sources: ABS; RBA
Superannuation funds 1,299 70 15.7 6.6
of which:        
Equities 377 29 33.9 3.5
Assets overseas 188 14 10.3 11.3
Units in trusts 175 13 25.1 10.3
Deposits 170 13 11.7 15.7
Net equity in life offices 164 13 10.6 −4.0
Land, buildings and equipment 74 6 7.4 10.7
Long-term securities 53 4 −10.1 3.7
Short-term securities 50 4 −8.9 −13.2
Loans and place 10 1 10.0 −1.5
Other assets in Australia 37 3 −13.8 47.0
Life insurers(a) 235 13 7.1 2.8
Public unit trusts 283 15 0.8 −5.6
of which:        
Listed property trusts 125 44 4.7 −0.9
Unlisted equity trusts 98 35 6.3 −5.5
Listed equity trusts 35 12 −9.3 −17.8
Other trusts 25 9 −18.4 −9.3
Other managed funds(b) 39 2 −37.7 −12.3
Total (unconsolidated) 1,856 100 10.2 3.6
of which:        
Cross investments 406   15.5 1.1
Total (consolidated) 1,449   8.7 4.4
Table 4.1: Transition to Basel III Capital Requirements in Australia
At 1 January 2013
per cent of risk-weighted assets
2016
per cent of risk-weighted assets
  Basel III APRA Basel III APRA
Minimum CET1 3.5(a) 4.5 4.5 4.5
(a) Fully phased in on 1 January 2015
(b) Fully phased in on 1 January 2019
Source: APRA
Conservation buffer 0.625(b) 2.5
Minimum Tier 1 4.5(a) 6.0 6.0 6.0
Minimum total capital +
Conservation buffer
8.0 8.0 8.625(b) 10.5

Table A1: EU Banks’ Net Sovereign Debt Exposures(a)(b) As at 31 December 2010, € billion
  Country of debt issuance  
  Greece
Portugal
and Ireland
Italy Spain Other EU(c) Total EU(c) Memo
item:
Domestic
(a) Gross long exposures (net of cash short positions)
(b) Of participating banks in EU stress test only
(c) Includes Norway
Sources: EBA; European Commission; RBA
Sovereign debt held
by banks in:
           
Austria 0.6 1.2 0.2 43.3 45.3 13.9
Belgium 6.3 20.6 2.9 70.8 100.5 26.3
Cyprus 6.2 0.0 0.1 2.2 8.5 1.4
Denmark 0.5 0.4 0.1 13.6 14.7 5.7
Finland 0.0 0.0 0.9 1.0 0.4
France 15.0 41.1 9.3 199.2 264.5 102.5
Germany 12.0 32.9 17.1 363.8 425.8 305.5
Greece 48.4 0.1 3.6 52.1 48.4
Hungary 4.7 4.7 4.3
Ireland 10.4 0.8 0.3 5.3 17.0 10.2
Italy 1.9 159.0 3.0 38.4 202.2 159.0
Luxembourg 0.3 2.4 0.2 3.4 6.2 2.9
Malta 0.0 0.0 0.8 0.8 0.7
Netherlands 2.4 8.2 2.1 115.9 128.6 44.0
Norway 14.9 14.9 14.3
Poland 6.6 6.6 6.6
Portugal 20.9 1.0 0.3 1.9 24.0 18.9
Slovenia 0.1 0.1 0.0 2.6 2.7 1.4
Spain 6.0 6.6 222.3 9.6 244.4 222.3
Sweden 0.3 0.4 0.2 86.7 87.5 25.2
UK 4.8 11.5 6.6 164.6 187.5 91.3
Total 136.1 286.3 264.4 1,153.0 1,839.7 1,105.2
Memo item:
General government
debt outstanding
637.1 1,843.0 638.8 6,852.7 9,971.7  
Table B1: Top 10 Global Reinsurers Ranked by gross reinsurance premiums written in 2010
Rank Company   Domicile   Gross premiums
written
US$ billion
Estimated
market share
Per cent
(a) Estimate
Sources: A.M. Best Company; Swiss Re
1 Munich Re   Germany   31.3 15
2 Swiss Re   Switzerland   24.8 12
3 Hannover Re   Germany   15.1 7
4 Berkshire Hathaway   United States   14.4 7
5 Lloyd's   United Kingdom   13.0 6
6 SCOR   France   8.9 4
7 Reinsurance Group of America   United States   7.2 4
8 Allianz   Germany   5.7 3
9 Partner Re   Bermuda   4.9 2
10 Everest Re   Bermuda   4.2 2
  Top 10       129.4 64
  Total market(a)       203.3