cba a pillar of strength, page-3

I've just spoken to the CBA branch manager. Was interesting having a chat to him regarding fixed term deposit interest rates. They are currently offering 7.35% on around $200k for 4months. All the banks are competing to get customer's cash into fixed term deposits. These banks have borrowed lots of money in the past couple of years and it's starting to cost them. Adelaide Bank and Suncorp are really starting to hurt apparently and BankWest not far behind. Sorry to say, but I'd stay out of the financial sector for approximately the next 3-4 months. Fixed term interest rates are now higher than many who have fixed interest loans on their houses - that is going to start hurting the banks very soon and from what he was saying, it has already started hurting some of the smaller financial institutions