Interestiung headline article on the front page of the AFR review today.
The IMF is warning over the big four domance in the market and says the banks should be ordered to raise billions more in extra capital.
The big four hold 88% of Australia's residential mortgages and 80% of total banking assets. This concentration among our four major banks is the higest in the world.
In warns Australia also has high household debt and elivated house prices.
It makes you wonder what will happen when the Australian property bubble colapses. Will it take any of the big four down, and what will this do to the Government Financial Claims Scheme and government debt levels?
Interestiung headline article on the front page of the AFR...
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