{"id":33402,"date":"2012-11-08T22:31:32","date_gmt":"2012-11-09T03:31:32","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/2012\/11\/apra-spins-another-yarn-on-australian-banks\/"},"modified":"2012-11-08T22:31:32","modified_gmt":"2012-11-09T03:31:32","slug":"apra-spins-another-yarn-on-australian-banks","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/11\/08\/apra-spins-another-yarn-on-australian-banks\/","title":{"rendered":"APRA Spins Another Yarn On Australian Banks"},"content":{"rendered":"

By MoneyMorning.com.au<\/a><\/strong><\/p>\n

With all the evidence showing the overseas banking system is on the edge of collapse, Australia’s banking regulator (APRA)<\/strong> insists on spinning the yarn that Australian banks<\/strong> are just fine, so don’t worry about anything.<\/p>\n

Today’s Australian<\/em> reports:<\/p>\n

\n


\n ‘Australia’s biggest banks would survive a global economic disaster that included a disorderly resolution in Europe, a double-dip recession in the US and slump in Chinese growth, under a new scenario modelled by the Australian Prudential Regulation Authority.’
\n <\/em><\/p>\n<\/blockquote>\n

That’s great news. Let’s look at the stress test and the modelling. We wish you could. But you can’t. The only analysis anyone can do of the banking stress test is to read the transcript of John Laker’s (APRA chairman) speech to the AB+F Randstad Leaders Lecture.<\/p>\n

<\/span>
\nThe transcript runs to 12 pages. But there’s no real analysis. All you’ll get from the speech is what they tell you…nothing else. APRA refuses to answer any<\/em> questions regarding the stress tests.<\/p>\n

All we know is the ‘key macroeconomic parameters’<\/em> used in the stress test. These were:<\/p>\n