More warnings over banks’ epic offshore exposures

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By Leith van Onselen

Since its inception, MB has warned regularly on the banks’ excessive reliance on offshore funding to keep the housing ponzi inflated, which risks imploding if/when international capital markets seize-up.

Following APRA chief, Wayne Byers, belated cautioning of the banks’ exposures to offshore funding markets on Friday, other analysts chimed-in with warnings of their own over the weekend. From The AFR:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.