PP your right they wound have to provision 11.6B, from memory...

PP your right they wound have to provision 11.6B, from memory they have already provisioned 1B,nor is all the exposure to MBIA or Ambac, if they follow Aust market trends only about 60% would be those counter parties, so my guess is a provision of $2-3B, which in this climate would be enough to see it break into single figures.

That short term longer term say 12 mths , they have got +40-45B in sliced and diced corporate debt thats very likely to deteriorate, its this bit thats the real challenge, watching the yields on AAA and AA corporate bonds is key of they start deteriorating and australain credit starts to contract then ANZ got a perfect storm on it hands