Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook

facebook3           facebook2 


What BFCSA Does...

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.


Articles View Hits

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

Lee Doyle

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form

NAB's Cameron Clyne calls for bank inquiry aimed at funding: Son of Wallis ineffectual whitewash

  • Font size: Larger Smaller
  • Hits: 2755
  • Print



Congratulations to Cameron Clyne of NAB for last night’s Lowy Lecture, in which he called for a Son of Wallis Inquiry specifically aimed at addressing Australia’s addiction to offshore wholesale funding. In a strangely blunt and at times in-eloquent speech, Clyne nonetheless made perfect sense:


Australian banks have significantly reduced exposure in recent years and we have sat out of the offshore markets for extended periods when spreads were wide and credit demand was low. But our banks still regularly feature in the top 10 of global issuance which is disproportionate given we represent only two per cent of global GDP. We are reluctant to further increase that position but we do need to move towards more stable balance sheet settings required by regulators.

Read on ....



The commenters don't agree that this is a good idea at all....




Oh please.. This is what Clyne said.. As always, the devil is in the detail and Clyne took the trouble not to use the word “super”:

Reviewing how investment mandates may change given an ageing population which will require a greater need for diversification and more fixed income options. As OECD data shows, Australian Pension Fund allocations to Fixed Income are only 9% compared to an average of 53%.

Now tell me if you think that is a good idea or not?

IMHO, this inquiry will go the way of the Swanny’s covered bond banking “reform”: banks will cut a behind-the-scenes deal with both political parties, get what they want and taxpayers will be left holding the basket.


Last modified on
Rate this blog entry:


  • doyla66
    doyla66 Thursday, 15 November 2012

    ROYAL COMMISSION INTO BANKING - WIDE TERMS OF REFERENCE: One way to use the current state of politics to focus the Federal Government's attention on the NEED to flush out WHITE COLLAR CRIME in banking and finance could be to target the Liberal/Coalition State Governments.
    The Gold Coast wasn't dubbed the Scam Capital of Australia for nothing: sports arbitrage, gambling, telephone scams, multiple property and real estate scams and a wide variety of other activities marketed as "investments".
    Maybe Campbell Newman would be interested in an Inquiry into White Collar Crime, based on the Gold Coast experience?

  • doyla66
    doyla66 Thursday, 15 November 2012

    Royal Commission in banking corruption - ...."wide terms of reference"...

    Yes good point Lisa,--thats "VeryGC" thinking...VeryGoodCrime[capital] & throw those pesky "bikies" into the mix while they're "going thru the motions"...incidentally,[trivia pursuit?] ...when was the last time Melbourne instigated a Royal Commission into their corrupt police activities, --releasing "protected witness' details, [since murdered], --commissioners tipping off corrupt officers under the guise of a radio interview, which such subtlety would be known to alert the culprits that they were currently under "internal" surveillance etc...perhaps a permanent Commonwealth Crime & Misconduct Commission [CCMC] to tackle ASIC,APRA, AOFM et al, ---after the Royal Commission in banking corruption - wide terms of reference...

  • doyla66
    doyla66 Friday, 16 November 2012

    :) I'd forgotten that bikies could be considered part of "white collar" crime ...
    Thanks for the reminder about "protected witness' details"...
    What gets to me is the overflow of banking culture/abusive legalism into the wider community. It makes for very unpleasant business dealings and a total lack of trust. GC not a nice place to do business, especially at present. Big clean up overdue and massive shift in attitude needed. Some really scary psychopathic conduct around ...

  • doyla66
    doyla66 Thursday, 15 November 2012

    We must have a Royal Commission - there is just far too much systemic corruption inside the banking & financial industries. This corruption also infects the Regulators, who are totally inefficient, and the External Dispute Resolution Schemes like FOS, who are NOT INDEPENDENT, as they are funded by the very banks that they are supposed to be investigating !!!
    The head of ASIC is also an ex-banker!!!

    You wouldn't put a multiple murderer in charge of a prison or a serial rapist in charge or a woman's association would you?

    Sack, get rid of these corrupt people in charge of these organisations & replace them with truly independent people, that will do the job properly & effectively.

Leave your comment

Guest Friday, 22 January 2021