WHY ????
Well I answered that already. Do I need to spell it out for you ?
As for the AMSLAs, it would appear that the clients lent the shares to Opes and Opes lent them to ANZ. That would appear to be two loans not one. Unless they had some kind of 3-way lending transaction contract, which I doubt.
Anyway you would be the experts on that.
m.west on anz, page-128
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