Bottom line is a collateral risk premium should have been paid to the Opes Prime lenders as a cash deposit into their bank account of an industry standard in Aust of 105% of their lodged equity value. This credit margin should not have been left in the Opes Prime financial account as a credit line faclity for the boys to play around with. Opes Prime bottom line used the clients collateral margin that should have been paid to the clients for the risk of the transaction. If Opes Prime and ANZ had performed the transaction correctly, fairly and under proper industry guidelines, all the Opes Prime clients would now have sitting in their own bank account a big fat deposit that would have been more than their lodged shares, that would not have been subject to the current credit risk of Opes Prime.
Also, imagine Opes Prime clients getting a statement saying that you have to pay a rebate of such and such and such, there is no meaning of interest rate payments under securities lending. There are no LVR's in securities lending, if you lend your securities, you get the full 105% collateral margin in cold hard cash to compensate the failure risks of the borrower.
This is the biggest con in Austalian's financial history and people are going to pay.
