Thanks for the reply ctindale. I think I sufficiently get now how a 'monoline's' fate can jeopardize a bank here that invests in bonds.
Do you have any comment as to the extent of exposure of the other Australian banks to bond insurers - in particular, Westpac and CBA? I remember seeing a Gail Kelly comment attacking credit ratings agencies, which made me think maybe they're seriously exposed to something that isn't the quality they thought it was.
time to back up the truck, page-19
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