"in those accounts there are plus 10% related party transactions"
It was next to impossible for Opes to fail if they only used the ANZ money to lend to clients and stick to their published LVRs...it is classic clipping of the ticket style business. Then the only way it could fail is if markets gap downwards and every client has to make margin calls and a good percentage of them can't.
I wonder if Opes would have to get sign off on related party transactions and non standard LVR's from the ANZ?
I bet when setting up the business ANZ would have set some ground rules in regards to these very important issues and if they allowed them to change then they contributed to the Opes failure.
"in those accounts there are plus 10% related party...
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Last
$28.82 |
Change
-0.340(1.17%) |
Mkt cap ! $86.72B | |||
| Open | High | Low | Value | Volume |
| $29.36 | $29.45 | $28.82 | $157.1M | 5.417M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 24121 | $28.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $28.84 | 2748 | 1 |
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| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| ANZ (ASX) Chart |