Banks are failing around the world. Could it happen here?
7am
00:00
The Risks in the Post-GFC Economy
Australia's banking system is very different to America's. Both its regulatory environment and it's also vastly more concentrated than the US. We have hyper concentration of banks which makes them very, very strong. They have great assets and they hedge well against risk. But in terms of financial contagion or a repeat of the GFC, people I've spoken to are kind of cautiously optimistic. What we are exposed to is US recession. If the US catches a cold, we tend to as well.
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