{"id":12168,"date":"2015-08-16T20:04:09","date_gmt":"2015-08-17T00:04:09","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=12168"},"modified":"2015-08-16T20:04:09","modified_gmt":"2015-08-17T00:04:09","slug":"cba-anz-nab-and-westpac-the-incredible-shrinking-big-four-banks-afr-com","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2015\/08\/16\/cba-anz-nab-and-westpac-the-incredible-shrinking-big-four-banks-afr-com\/","title":{"rendered":"CBA, ANZ, NAB and Westpac: The incredible shrinking big four banks | afr.com"},"content":{"rendered":"<p>Great article by Chris Joye:<\/p>\n<blockquote><p>Welcome to the world of that beautiful $140 billion behemoth, the Commonwealth Bank, which has inverted the axiom that there is a trade-off between risk and return. Years ago I highlighted a perversion embedded at the heart of our financial system: the supposedly lowest (highest) risk banks were producing the highest (lowest) returns. Normally it works the other way around.<\/p>\n<p>&#8230;..contrary to some optimistic reports, the capital-raising game has only just begun.<\/p>\n<p>The terrific news for shareholders is that this belated deleveraging will transform the majors into some of the safest banks in the world, which will be able to comfortably withstand a 1991-style recession, exacerbated by a 20 per cent decline in house prices.<\/p><\/blockquote>\n<p>In the past I have been critical of APRA&#8217;s failure to properly police Australia&#8217;s vastly-undercapitalized banking system but must now give them credit for their leadership towards creating a world-class system that will be able to withstand serious endogenous or exogenous economic shocks. <\/p>\n<p>Shareholders face lower returns from reduced leverage but will benefit from improved valuations due to lower risk premiums and stronger, more stable, long-term growth.<\/p>\n<p>Read more at <a href='http:\/\/www.afr.com\/business\/banking-and-finance\/the-incredible-shrinking-big-banks-20150810-giw1aw?stb=lkn'>CBA, ANZ, NAB and Westpac: The incredible shrinking big four banks | afr.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Great article by Chris Joye: Welcome to the world of that beautiful $140 billion behemoth, the Commonwealth Bank, which has inverted the axiom that there is a trade-off between risk and return. Years ago I highlighted a perversion embedded at the heart of our financial system: the supposedly lowest (highest) risk banks were producing the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2015\/08\/16\/cba-anz-nab-and-westpac-the-incredible-shrinking-big-four-banks-afr-com\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;CBA, ANZ, NAB and Westpac: The incredible shrinking big four banks | afr.com&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,31],"tags":[214,290,346,427,756],"class_list":["post-12168","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-the-fed-banks-interest-rates","tag-apra","tag-australia","tag-bank-capital-adequacy","tag-big-four-banks","tag-commonwealth-bank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CBA, ANZ, NAB and Westpac: The incredible shrinking big four banks | afr.com - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBA, ANZ, NAB and Westpac: The incredible shrinking big four banks | afr.com - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Great article by Chris Joye: Welcome to the world of that beautiful $140 billion behemoth, the Commonwealth Bank, which has inverted the axiom that there is a trade-off between risk and return. 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The target was much\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22704,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/11\/18\/the-major-banks-anz-cba-nab-wbc\/","url_meta":{"origin":12168,"position":2},"title":"The big four banks: ANZ, CBA, NAB &#038; WBC","author":"Colin Twiggs","date":"November 18, 2020","format":false,"excerpt":"We consider Commonwealth Bank (CBA) to be over-priced relative to its peers and currently hold ANZ (2% of portfolio value) and NAB (1%) in the Australian Growth portfolio. Valuation ANZ We reduced our estimate of fair value for Australia & New Zealand Banking Group (ANZ) to $25.08 per share, maintaining\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10341,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/16\/australia-ubs-eyes-23b-capital-hit-to-big-banks\/","url_meta":{"origin":12168,"position":3},"title":"Australia: UBS eyes $23b capital hit to big banks","author":"ColinTwiggs","date":"July 16, 2014","format":false,"excerpt":"Chris Joye at AFR reports on a recent study by UBS banking analysts Jonathon Mott and Adam Lee. The two believe that David Murray's financial system inquiry is likely to recommend an increase of 2 to 3% in major banks tier 1 capital ratios. Based on an extra 3 per\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15286,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/15\/at-last-some-sensible-commentary-on-bank-levy-macrobusiness\/","url_meta":{"origin":12168,"position":4},"title":"At last, some sensible commentary on bank levy | MacroBusiness","author":"ColinTwiggs","date":"May 15, 2017","format":false,"excerpt":"From Leith van Onselen: ......The bank levy helps internalise some of the cost of the extraordinary public support that the big banks receive from taxpayers via the Budget\u2019s implicit guarantee (which provides a two-notch improvement in the banks\u2019 credit ratings), the RBA\u2019s Committed Liquidity Facility, the implementation of deposit insurance,\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17973,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/03\/14\/aussie-banks-get-a-wake-up-call-from-across-the-tasman\/","url_meta":{"origin":12168,"position":5},"title":"Aussie banks get a wake up call from across the Tasman","author":"Colin Twiggs","date":"March 14, 2019","format":false,"excerpt":"I have long called for Australian banks to increase their equity capital in order to withstand a potential banking crisis in Australia. 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