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There is little doubt that a rise will happen and the lift will be greater than the increase in the cash rate announced this week by the Reserve Bank.
Another untapped source of funding would be superannuation funds. The more diversified the funds available, the less reliant they would be on overseas markets and,[url=http://www.airjordanpascherespaccio.com]air jordan[/url], in theory, it would reduce the cost of their wholesale funding.

The banks, who say they are working with the government on ways to make credit more affordable for borrowers,[url=http://www.abercrombieparis4frboutique.com]abercrombie france[/url], don't take the view that there should be more banks, but that existing lenders should have an increased source of wholesale lending alternatives.
St George bank was gobbled up by Westpac and BankWest was subsumed by the Commonwealth Bank. The ACCC gave both transactions a tick and the government and/or the Reserve Bank encouraged the move for fear that the smaller weaker banks might undermine the system,[url=http://www.piuminimoncleroutletspaccioit.com]moncler outlet[/url].
But the lynching mob - spurred on by politicians - jockeyed for the microphone to denounce the banks for their rapacious greed and offer punishments in the form of nine-point plans and reform packages to rein in the financial monsters.
Companies do this all the time - letting the market know about the strategy or direction of their prices.


Kelly managed to produce a solid improvement in profit - one driven by better bad debt experience rather than by buoyant underlying income.
Canberra's fall-back position appears to be to work with the competition regulator to restrict the banks' ability to ''collude'' on interest rates. The Treasurer, Wayne Swan,[url=http://www.piuminimoncleroutletspaccioit.com]moncler[/url], is keen to find some mechanism to promote smaller participants by enabling them to capture a bigger share of the mortgage market. The later is a much more productive solution.





But the public debate is centred on forcing the big four banks into line. Graeme Samuel at the ACCC has come to the party by threatening that what he believes may be anti-competitive behaviour called signalling will be curbed. He contends that any bank that suggests it might be moving rates outside those set by the Reserve Bank in effect could be letting competitors know its pricing strategy so others can match it. Good luck in policing this,[url=http://baotianman.sinopop.cn/plus/view.php?aid=102839]louboutin pas cher Business lending on the improve[/url].
The big banks appear to interpret increased competition as finding a way to allow them access to cheaper pools of wholesale funding so they can pass those on to borrowers,[url=http://hintsoft.joinbbs.net/viewthread.php?tid=1847&extra=]abercrombie Ikon is developer's icon in Victoria[/url].
It is in Canberra's interests and the banks' interests for the public to have access to more credit, but they don't appear to be on the same page when it comes to achieving this.

The big banks seized the opportunity to grab more share during the world financial crisis,[url=http://www.abercrombieparis4france.com]abercrombie france[/url], but the government and the competition regulator enabled them to do so.

Meanwhile everyone acknowledges that thanks to the global financial crisis there has been a concentration of banking services - the big four have increased their market shares significantly.



The chances are that when the ANZ, Westpac and possibly NAB increase their rates over the next week, none will do so for the identical amount.
There is still some competition in the banking market - but arguably not enough,[url=http://www.eudoudounemonclerboutique.com]doudoune moncler[/url]. But rather than beat up the banks that the government empowered only 18 months go, Swan needs to enhance the ability of smaller lenders to enter the market,[url=http://www.belstaffoutletsitonegozi.com]belstaff[/url].
The banks are suggesting legislation be changed to enable them to offer the market what are called covered bonds - which are highly rated bonds backed by quality assets like mortgages,[url=http://www.abercrombieparis4france.com]abercrombie[/url]. These are issued by bank lenders and sold to investors.

Westpac's hefty profit for the 2010 financial year threw more kerosene on the political and public bonfire surrounding interest rates,[url=http://yemeklopedi.com/upcoming.php]moncler outlet[/url],[url=http://www.abercrombieparis4frboutique.com]abercrombie[/url]. The bank's chief executive, Gail Kelly,[url=http://www.airjordanpascherespaccio.com]air jordan pas cher[/url], wisely shied away yesterday from announcing Westpac's plan to raise its increase rate.
The likes of Macquarie and Challenger fled the home lending market, as did many mortgage originators that lost access to cheap wholesale finance,[url=http://www.louboutinpascherespaccio.com]louboutin[/url]. Now the government is left with the task of finding some way to get smaller lenders back and curbing the dominant players' ability to pass their higher funding costs to consumers.

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