"In contrast to the other banks, it is believed that Commonwealth Bank managed to keep its $150 million unsecured exposure to Centro steady by closing out its hedge contracts while they were still in-the-money. This happened in May when the Australian dollar was trading around US94 cents."
this may offer some insight into the reason why CBA did not need to attend the meeting of bankers in NY...........
bussiness spectator 'centro debt explodes', page-12
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