Comment by: Anonymous. Posted 12 years ago [2011-05-27 00:32:19]

Interesting that Moody's considers the difficulty of these banks to obtain funding is greater now than at the height of the GFC when funding markets were neare frozen. The Australian banks largely escaped the GFC as they had minimal exposure to US sub-prime and Australian housing didn't crash. What actually happened was the GFC, crushed the non-bank mortgage securitisers and smaller financial institutions allowing the major banks to increase market share, margin and profitability - so obviously Moody's is right they are far more risky now than before !!!