Banks Told to Prepare for the Worst - Shapiro & Cornell

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John Laker by Australian Financial Review

Australian banks have been ordered to urgently (within one week) stress test their ability to withstand a sharp rise in unemployment, a collapse in the property market and economic recession amid rising anxiety over the European debt crisis. The Australian Prudential Regulation Authority has told banks to model what would happen if the European meltdown spread to Australia.

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Effect on New Zealand by Dr Stuart Jeanne Bramhall on Saturday, Dec 17, 2011 at 7:47:12 PM