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.
Thanks for the reply ctindale. I think I sufficiently get now...
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