I don't think the new rules governing the increase of reserve...

I don't think the new rules governing the increase of reserve liquidity holdings applies to BOQ just the main banks. BOQ operates on a type of franchise arrangement.
Some info on that would be appreciated if anyone has the time.

The BIG four are required to increase their reserve liquidity holdings and this has been coming for a long time and has been reported that the banks would have to raise capital to fund this new liquidity.
That and in general the banks are overpriced imo. I don't know where the bottom will be but I did see this fall coming. Far easier to see a fall coming than to pick the bottom of the market.
With the worlds economies receding and China slowing and other problems in China I don't think we are near the bottom yet.