Dodgy Byers hides banker’s confessions

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Via Banking Day legend Ian Rogers:

Hidden industry self-assessments must be published pronto and APRA must lean hard on banks to ensure that they are, scrutineer Graeme Samuel told a parliamentary hearing yesterday.

Recalcitrant banks – including ANZ and Bendigo and Adelaide Bank and Macquarie Group – need a “reality check”, Samuel told the Standing Committee on Economics at a hearing in Canberra yesterday.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.