• Banks better placed after changes to funding mix
  • Australian bank activity in asia is likely to expand
  • Global financial conditions improved significantly
  • Notes conditions ‘a bit below average’ for most industries
  • Lower mining investment could damp economic activity
  • Australian banking system in ‘relatively strong position
  • Banks’ asia expansion diversifies profit, may add risk
  • Too early to say if better market sentiment to be sustained
  • Some industries weighed by strong AUD & softer demand
  • Australian banks better placed after changes to funding mix
  • Sees ‘little sign’ banks are taking on excessive risks
  • Australian bank activity in Asia is likely to expand
  • Australian banks in good position to meet Basel III

As expected, little immediate impact on AUD