Worlds greatest treasurer risks reserve bank

[IQS.RLOW]

http://www.theaustralian.com.au/nationa ... 6618617679" onclick="window.open(this.href);return false;

How the fuck is this Down syndrome monkey still the treasurer? Does anyone find it strange that with all the ALP leadershit shenannegins, this poorest performing numpty is still in charge of the purse strings?

It's about time someone took Bill Ludwig out.

WAYNE Swan's order forcing the Reserve Bank to pay the government a $500 million dividend last year overturned his earlier agreement that the bank should use its profits to rebuild badly depleted reserves.

The Treasurer demanded the dividend in the face of pleas from governor Glenn Stevens that it would leave the bank "significantly" short of capital.

Following the release of correspondence between the two men under Freedom of Information laws, Coalition Treasury spokesman Joe Hockey accused Mr Swan of putting his "political survival ahead of the national interest".

[Rorschach]

Labor Surplus.... failure is not an option...

[mantra]

The banks have had an excellent run and have now exceeded a $25 billion quarterly profit. They are safe thanks to the large number of deposits guaranteed by the government and in a position to give a little back. Half a billion dollars isn't a big ask.

[Rorschach]

The RBA isn't one of... "the banks" mantra.

[IQS.RLOW]

Some people are just too stupid to be allowed to vote

[Rorschach]

yep, she's near the top of my list

[Neferti]

[mantra]

You lot are thick. There is no real reason why the RBA's funds should be low. They no longer need to bailout the banks. This is another piece of sensationalism that you pig swill are running with. If the government wants their dividend - that's their right, but there is no intention of taking it this year.

IQ - if you're desperate to print this bulldust - at least make sure we can access it. Two lines only from a RW rag is propaganda.

In a globally unique policy, the Reserve Bank of Australia will supply banks with a permanent bailout facility worth up to $380 billion by 2015.

The policy has been designed by the RBA to help banks satisfy stringent new liquidity tests which simulate “acute stress scenarios” that deny banks funding for 30 days under the post-GFC rules, Basel III.

Local regulators argue that insufficient liquid assets such as government bonds meant they had no choice but to give the banks a new taxpayer-backed “line of credit” that could be tapped at a cost just above the RBA’s cash rate. Smaller building societies and credit unions are not subject to the liquidity tests and will not, therefore, have access to the bail-out fund.

Remarkably few people inside or outside financial markets are familiar with, or understand, this “committed liquidity facility”, which will be managed by the RBA.

“Subject to the availability of the CLF, Aussie banks can’t run out of cash,” CLSA’s banking analyst Brian Johnson says. The CLF will cauterise one of the banking system’s single biggest vulnerabilities: its historically large dependence on wholesale funding. Standard & Poor’s recently cited this as a key risk to Australia’s prized AAA credit rating.

Yet there has been no public debate about the establishment of the facility, the terms under which banks can use it, the risks to which it exposes taxpayers, or the absence of independent oversight of the handful of officials who control it.

[Neferti]

You seem to have popped a gasket, Mantra. Stay Calm! If pain persists, call 000.

[Rorschach]

She's a dickhead nef.... they tend to blow gaskets regularly.
She still doesn't get it.