Hi, the FN Arena article is locked to subscribers and won't...

Hi, the FN Arena article is locked to subscribers and won't allow me to copy and paste it. The article is headed "Government backs Australian Banks - Brokers Respond"
There is nothing of specific interest to CBA holders, and the bulk of the article is a digest of the recent takes by UBS, Citi, etc.

UBS is quite cautious on the Australian banks and sees the Govt's intervention as only incrementally positive.

ANZ and NAB are seen by Citi as being the most likely to benefit from the federal government guaranteeing their off-shore borrowing (by 'credit wrapping' whatever that is) because these two source about 40% of their funding oversees, as compared with the local average of 20%.
Citi has upgraded these 2 banks, but again it's not gung-ho about the banks.

The guaranteeing by the fed govt of overseas borrowing by banks is seen as benefiting regional banks such as Bendigo and BOQ, by ABN Amro. They've had the most problems getting funding and now it should be a bit cheaper too.

UBS views Australian banks as "structurally flawed" because for years there has been a gap between loan growth and deposit growth which has been funded by way of the banks borrowing longer term from overseas and swapping the borrowings into Australian dollars. So this also makes the situation of the banks and now the government more vulnerable to the condition of the AUD.

Hope I haven't mangled the meaning too much. Pretty vague and fuzzy terrain for me, and I sold out family holdings in NAB and ANZ, and trimmed WBC and CBA.