{"id":13546,"date":"2016-07-07T18:44:53","date_gmt":"2016-07-07T22:44:53","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=13546"},"modified":"2016-07-07T18:44:53","modified_gmt":"2016-07-07T22:44:53","slug":"major-banks-credit-rating-outlook-cut-to-negative","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2016\/07\/07\/major-banks-credit-rating-outlook-cut-to-negative\/","title":{"rendered":"Major banks&#8217; credit rating outlook cut to &#8216;negative&#8217;"},"content":{"rendered":"<p><a href=\"http:\/\/www.theage.com.au\/business\/banking-and-finance\/major-banks-credit-rating-outlook-cut-to-negative-20160707-gq0toh.html?promote_channel=edmail&amp;mbnr=MTQyOTU1Nzk\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"alignnone size-full\" src=\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/07\/1467902904506.jpg?w=525&#038;ssl=1\" alt=\"\" \/><\/a><\/p>\n<p>From Clancy Yeates:<\/p>\n<blockquote><p>Australia&#8217;s banks face the threat of higher funding costs, after Standard &amp; Poor&#8217;s downgraded the big four&#8217;s credit rating outlook to &#8220;negative&#8221;, a direct result of its action on the government&#8217;s top-notch rating.<\/p>\n<p>&#8230;.the banks&#8217; credit ratings are automatically raised by two notches because S&amp;P assumes they would receive government support in times of financial stress. Action on the government&#8217;s rating therefore tends to flow directly into the banks&#8217; ratings.<\/p>\n<p>&#8220;The negative outlooks on these banks reflect our view that the ratings benefit from government support and that we would expect to downgrade these entities if we lower the long-term local currency sovereign credit rating on Australia,&#8221; Standard &amp; Poor&#8217;s said.<\/p>\n<p>While the warning does not reflect changes in the banks&#8217; financial performance, analysts say that if it leads to a downgrade in the actual credit rating of banks, it could push up bank funding costs all the same.<\/p>\n<p>&#8230;.&#8221;While Australian banks enjoy relatively high credit ratings and are deemed to be in the top quartile of global capital requirements, the frequent use of offshore wholesale funding markets is likely to result in higher funding costs.&#8221;<\/p>\n<p>The big four raise about 30 per cent of their funding by issuing bonds in wholesale funding markets, so the cost of this debt can have a significant influence on the sector&#8230;..<\/p><\/blockquote>\n<p>To avoid moral hazard, with banks taking unnecessary risk at the taxpayer&#8217;s expense &#8212; a case of heads I win, tails you lose &#8212; Treasury and the RBA should commit themselves to the Swedish example. Banks that require rescue should forfeit control of their assets by issue of a controlling equity stake to the government. That would significantly curtail management and shareholders&#8217; willingness to take unnecessary risks. And create a strong incentive to increase capital buffers. Not just to comply with APRA rules, but to make their businesses as bullet-proof as possible. Conservatively-run banks would be a major asset to the economy.<\/p>\n<p>What APRA needs to focus on is instilling the right culture in banks. Rather than management focused on incentives to grow the business, there should be more emphasis on protecting the business and ensuring its long-term survival.<\/p>\n<p>Source: <a href=\"http:\/\/www.smh.com.au\/business\/banking-and-finance\/major-banks-credit-rating-outlook-cut-to-negative-20160707-gq0toh.html\">Major banks&#8217; credit rating outlook cut to &#8216;negative&#8217;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>From Clancy Yeates: Australia&#8217;s banks face the threat of higher funding costs, after Standard &amp; Poor&#8217;s downgraded the big four&#8217;s credit rating outlook to &#8220;negative&#8221;, a direct result of its action on the government&#8217;s top-notch rating. &#8230;.the banks&#8217; credit ratings are automatically raised by two notches because S&amp;P assumes they would receive government support in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/07\/07\/major-banks-credit-rating-outlook-cut-to-negative\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Major banks&#8217; credit rating outlook cut to &#8216;negative&#8217;&#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":[40,31,57],"tags":[],"class_list":["post-13546","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-the-fed-banks-interest-rates","category-stock-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Major banks&#039; credit rating outlook cut to &#039;negative&#039; - 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=\"Major banks&#039; 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In Australia that probability is now 100 per cent. Standard & Poor's, a ratings agency, gives Australia's biggest four banks a AA rating explicitly because taxpayers will provide \"extraordinary support\" to their creditors in any crisis,\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":15463,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/06\/19\/moodys-downgrades-australian-bank-credit-ratings\/","url_meta":{"origin":13546,"position":1},"title":"Moody&#8217;s downgrades Australian bank credit ratings","author":"ColinTwiggs","date":"June 19, 2017","format":false,"excerpt":"From Mathew Dunckley and Clancy Yeates at SMH: Credit rating agency Moody's has downgraded a dozen Australian banks, including the big four, citing increased risks in the nation's increasingly indebted households. Moody's stripped the big four banks - the Australia and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia\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":153,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/10\/did-standard-and-poors-break-sec-regulations-in-disclosing-its-downgrade-to-select-parties-naked-capitalism\/","url_meta":{"origin":13546,"position":2},"title":"Did Standard and Poor\u2019s Break SEC Regulations in Disclosing Its Downgrade to Select Parties? \u00ab naked capitalism","author":"ColinTwiggs","date":"August 10, 2011","format":false,"excerpt":"There is a much more straightforward basis for questioning S&P\u2019s conduct, and it has nothing to do with how S&P arrived at its rating. There is compelling evidence that the ratings agency made selective disclosure of its downgrade decision before it made it public last Friday evening. A reader told\u2026","rel":"","context":"In &quot;Debt Levels&quot;","block_context":{"text":"Debt Levels","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/debt-levels\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13111,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/08\/apra-waves-wet-lettuce-at-bank-offshore-funding-macrobusiness\/","url_meta":{"origin":13546,"position":3},"title":"APRA waves wet lettuce at bank offshore funding | MacroBusiness","author":"ColinTwiggs","date":"April 8, 2016","format":false,"excerpt":"From Leith van Onselen at Macrobusiness: .....the banks\u2019 reliance on offshore funding hit an unprecedented 54% of GDP in the December quarter: As always, the key risk is that the banks\u2019 ability to continue borrowing from offshore rests with foreigners\u2019 willingness to continue extending them credit. This willingness will be\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":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/04\/screenhunter_12341-mar-29-15-40-660x402.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/04\/screenhunter_12341-mar-29-15-40-660x402.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/04\/screenhunter_12341-mar-29-15-40-660x402.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":61701,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/05\/19\/private-credit-risk-jim-grant\/","url_meta":{"origin":13546,"position":4},"title":"Private credit risk | Jim Grant","author":"Colin Twiggs","date":"May 19, 2025","format":false,"excerpt":"Private credit markets have been growing steeply, but so are the warning signs. Source: Private Invest - Private Credit Growth ($Trillion) This comment on private credit from Jim Grant caught our attention: We\u2019ve got headline risk: While Moody\u2019s Ratings\u2019 (n\u00e9e Moody\u2019s Investors Service) splashy sovereign U.S. downgrade Friday afternoon dominated\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Private Credit Growth","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-20-pc.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-20-pc.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-20-pc.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":20584,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/05\/25\/commonwealth-bank-cba\/","url_meta":{"origin":13546,"position":5},"title":"Commonwealth Bank (CBA)","author":"Colin Twiggs","date":"May 25, 2020","format":false,"excerpt":"Stock: Commonwealth Bank of Australia Exchange: ASX Symbol: CBA Date: May 25, 2020 Latest price: $58.99 AUD Market Cap: $104.4 bn Fair Value Estimate: $50.11 Forward P\/E: 14.5 Fair Value Payback: 12 Years Financial Y\/E: 30 September Recommendation: Hold Sector: Finance Industry: Major Banks Investment Theme: Dividends & Growth Structural\u2026","rel":"","context":"In &quot;Australian Growth&quot;","block_context":{"text":"Australian Growth","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/investment-allocation\/asx-growth\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=13546"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13546\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=13546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=13546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=13546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}