Yes indeed ! I’m assuming they currently get from ANZ either 105bps and pay clients 10bps or get 95 from ANZ and clients don’t go negative (see their comments at dec qtr re taking the hit of the prior RBA decrease to 10bps). So negotiating a wholesale rate >= 95bps for client funds held in cash in 12 mths time will be the challenge.
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Yes indeed ! I’m assuming they currently get from ANZ either...
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