My "back of envelope" calculation suggests that the Australian banks can collectively right off $29.9 billion in asset impairments before they would have to consider raising capital in any form. They could survive a repeat of 2008 without the need for bail-ins.
(These extraordinary levels of surplus capital are the main reason I don't own bank shares! They don't run enough risk!)
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My "back of envelope" calculation suggests that the Australian...
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