Report in the FR today tell of the problems our banks are facing to plug the gap due to all the cash money they are losing to international facilities
Australia's banks will be forced to find an additional $70 billion of funding as superannuation funds shift out of cash into international assets while indebted households draw down on their savings.
The widening of the so-called "funding gap", which measures the difference between bank loans and deposits, comes amid a crisis-like blowout in short-term funding that is increasing bank funding costs and has already prompted the non-major banks to enact "out-of-cycle" mortgage rate rises. Financial Review
Why hasn't the media highlighted the mortgage increases that have been occurring ? Instead everyone has had their head in the sand.
What the media fail to discuss is the precarious position our big 4 banks are in, they are not impregnable as is often suggested but live on a knife edge and must constantly adjust to stay alive
Naturally our government will always bail them out but that will cause a loss of confidence that will be disastrous
