It also highlighted the potential for a downturn in asset prices or housing values.
"Large-scale problems in the banking sector, whether driven by a significant deterioration in asset quality (eg a sharp downturn in the housing market) or by a loss of access to international wholesale funding."
Wayne Swan says AAA all the way - "Why is all that important? Because the way some people are carrying on at the moment you'd swear that we were at the other end of the spectrum."
