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Oligopoly in the Australian Banking Sector

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Oligopoly in the Australian Banking Sector By Adiktd Introduction The Australian banking sector is dominated by four institutions who together account for over 85% of the domestic home loan value. These firms; National Australia Bank (NAB), Commonwealth Bank (CBA), Westpac (WBC) and Australia and New Zealand Banking Group (ANZ), have a collective market cap of over 400 billion dollars  (Tradingroom 2013) , five times the total assets of the remaining banks, mutual funds and various other financial institutions combined  (KPMG 2011) . Although the market is said to be highly competitive (Wikipedia 2013) the high concentration of market power by a small number of firms can be likened to a form of oligopolistic behaviour. As the market leaders are able to manipulate the market, forcing smaller firms and consumers to comply. The four pillars policy adopted in 1990 can be attributed to this as it restricted any merger or acquisition of the “Big Four Banks” by each other or ...
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Christmas Economic Links

Via Macrobusiness.com.au Global/Macro Here’s When The Economic Crisis Actually Ended – BI PE firms may pay more than $1B in collusion case - New York Post Millions of Tons of Metals Stashed in Shadow Warehouses - WSJ The case for silver -   Market Anthropology Bullishness Jumps to Three-Year High – WSJ Australia & New Zealand Coalition’s WA slump spurs senate fears – TheOz Bega in talks with “non-Australian” investors on Warrnambool stake: source – Reuters Palmer plays games over senate deal – TheOz Myer website down ‘until further notice’ – SMH. SPC sacks 73 workers, two days after Christmas – TheOz Who do you really bank with ? – Credit Card Compare ,  interesting infographic Projects surge hits $400bn – TheO z Tinkler sniffs a chance of a comeback - AFR Europe Turkish scandal moves closer to Erdogan – FT The Turkish Lira Is Getting Destroyed –...
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Weekend Links for the 11th-12th Jan 2014

Via Macrobusiness.com.au Global/Macro/Markets The State Of The Global Economy In Two Giant Slides – BI Bank of America Merrill Lynch slashes gold call to $1,150 and warns it could get uglier - Market Watch Blameless Blackrock - Reuters Debt Rule Faces Dilution as Regulators Heed Bank Warnings – Bloomberg The most damning critique of DSGE – noahpinion Baltic Dry Index Collapses 35% – Worst Start To Year In 30 Years – ZH The Loopholes In The Volcker Rule – Forbes. Wall Street Predicts $50 Billion Bill to Settle U.S. Mortgage Suits -NYT Australia & New Zealand Telstra eyes $3bn Sensis sell-off – AFR APRA announcement on DSI-B framework – The Age Olympic Dam gaffes leave miners unsure of PM – AFR State of the economy in 15 charts – Business Day Telstra fined $500k for urban phone line delays – The Age , The OZ New home sales surge on unit developments – ABC Tony Abbott compares secr...
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