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【出版时间及名称】：2010年3月澳大利亚银行业研究报告
【作者】：摩根大通
【文件格式】：pdf
【页数】：42
【目录或简介】：
Table of Contents
Executive Summary .................................................................3
Rationale For Proposed Capital Changes ..............................4
Capital Levels Of Australian Major Banks..............................5
The Historical Context.................................................................................................5
The ‘Benefit’ Of Being Regulated by APRA ..............................................................7
What Will Be The ‘New Minimum’ Level Of Capital?...............................................8
Impact On The Australian Major Banks................................10
Negative Impacts .......................................................................................................10
Offsetting Positive Impacts........................................................................................14
Time Heals All Wounds?...........................................................................................15
Adding It All Together – What Will Capital Ratios Look Like? ...............................16
Issues Yet To Be Resolved....................................................20
Minimum Capital Ratios............................................................................................20
Raw Gearing Ratios ...................................................................................................21
Potential Valuation Impacts...................................................22
Current Valuation Methodology ................................................................................22
Impact From New Capital Requirements...................................................................22
Sensitivity Analysis ...................................................................................................25
Conclusion..............................................................................26
Price Targets and Risks..............................................................................................30
ANZ Banking Group .................................................................................................31
Commonwealth Bank.................................................................................................31
Westpac Banking Corporation ...................................................................................31
Appendices
Appendix I: Key Differences Between Australian And US /
European Banks .....................................................................27
Appendix II: Price Targets and Risks ...................................30
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