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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.


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BFCSA: Australian Banking Cartel Sub Prime Crisis. G20 take note: APRA says prepare for crisis!!! Our Members have the evidence.

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Banks have more to do to prepare for crisis, warns APRA

BusinessBanking and Finance

November 7, 2014


Australian banks are well enough capitalised to withstand a severe shock to the economy, but poorly prepared to recover from a financial crisis, the banking regulator has warned.

In a major speech in Sydney at lunchtime on Friday, Australian Prudential Regulatory Authority chairman Wayne Byres revealed the results of the regulator's industry-wide stress test of Australian banks' mortgage books conducted over recent months.

"If we draw one conclusion from the stress test this year, it's that there remains more to do to be able to confidently deliver strength in adversity," Mr Byres said.

With surging house prices in Sydney and Melbourne putting an unprecedented level of attention on the risks inside bank home loan books, Mr Byres said the low-risk nature of Australian housing portfolios "has traditionally provided ballast for Australian banks ... But that does not mean that will always be the case."

With the Financial System Inquiry considering whether to call for banks to hold more common equity tier 1 capital (CET1) to add a further buffer between shareholders and taxpayers in the event of a bank collapse, APRA found that under a highly stressed economic scenario - which saw house prices crash 40 per cent and unemployment rise to 13 per cent - every one of the 13 banks tested remained above the minimum CET1 capital requirement of 4.5 per cent.

During the recent full-year reporting season the big banks pointed to their own stress-testing of mortgages as illustrating their resilience to a crisis. Mr Byers said this reflected the strengthening in capital ratios at an industry level over the past five years, "but nor should it lead to complacency".

Under economic shock, almost all banks projected that they would fall well into the capital conservation buffer range and would therefore be severely constrained on paying dividends and bonuses under two scenarios modelled by APRA. "Even though CET1 requirements were not breached, it is unlikely that Australia would have the fully functioning banking system it would like in such an environment," Mr Byres said.

He also revealed several shortcomings with the way in which banks are conducting their own stress tests. Bank data, modelling and development of scenarios required improvement and there was a varying level of sophistication between institutions, he said. (APRA is prevented from discussing the stress-test results as they apply to any particular institution.)................

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 How many more people have to become victims to Australian Major Banking Cartel Sub Prime Lending Crisis

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