Banking overview and historical perspective

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Banking overview and historical perspective

September 19, Reading time: Institute President Lindsay Smartt stepped up to the podium and welcomed guests and speakers, as well as acknowledging the traditional owners of the land.

Before we knew it, the second Actuaries Institute Banking Seminar was off and running. The overall theme of the conference was Banking on Capital and three plenary sessions brought this out in a variety of ways. Plenary 1 — Bubble, Bubble: Toil or Trouble After the President welcomed the opened the proceedings, the first session began with Shaun Dooley, Group Treasurer of NAB giving an overview of how the bank was adapting to the challenges of managing a bank balance sheet in a complex and evolving regulatory and business landscape.

He provided the audience some insight into the many dimensions of regulatory change faced by the bank. These included elements related to capital, credit risk, liquidity, conduct risk. This particular metric focused on ensuring that the risks created from the overall maturity mismatch naturally present in bank balance sheets between short-term liabilities and longer term assets are well balanced.

He brought into focus some of the system level challenges created by the metric, noting that recent research — highlighted to the international community by the Bank of England — that new money creation in the form of deposits appears to be driven more strongly by the creation of new lending than by the overall levels of deposit pricing.

Banking overview and historical perspective

While some imperfect relationships exist between deposits and assets at a system level in Australia, this remains an area open for future research and will likely have important implications for future policy development. Shaun concluded his discussion by highlighting that developing unquestionably strong banks in Australia moved well beyond simply bringing more capital into play.

All these are important pre-requisities for a resilient bank and more generally for a safer, stronger banking system. Beginning by considering some views of the definitions of bubbles, he focused in on the key commonalities: In bringing this general definition to the Australian context he identified the major drivers as low mortgage rates improving affordability; foreign demand; and population growth outstripping the supply of dwellings.

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At present, it appears the latter two effects are beginning to wane. In taking a global perspective, Peter recognised that at times international investors did not recognise that Australia had a mix of property markets across a variety of cities, some of which have stabilised or adjusted to changing economic fortunes.

Overall though, household debt growth has been slowing in Australia relative to the recent past, and while households are more vulnerable to increases in rates, or interruption of their incomes there does not appear to be any trigger in the immediate or foreseeable future.

Together these two discussions gave a solid grounding in the significant challenges being faced from an industry perspective.

Plenary 2 — Branching into Banking The next plenary moved the focus to human capital, rather than the traditional financial sort. Two highly experienced banking professionals — Nicolette Rubinsztein, a Director of Unisuper and Michael Cant the Executive General Manager of Corporate Financial Services for CBA — both of whom began with actuarial backgrounds reflected on their career journeys and their paths both into and within the banking world.

A variety of common threads emerged from their discussion. Nicolette highlighted what she saw as the four aspects that resulted in her move into banking: In many ways both our plenary speakers followed similar careers: He also highlighted the opportunity actuaries have to leverage and market existing skills.

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The key is to identify skills from your current area that are valuable in a potential role in new areas or to a prospective employer. Nicolette noted the importance of the foundations of product management and strategy developed within previous roles.

These skills allowed her to be successful in delivering change for customers across these areas.An Historical Perspective on the Quest for Financial Stability and the Monetary Policy Regime - Volume 78 Issue 2 - Michael D.

Bordo “The Bretton Woods International Monetary System: A Historical Overview.” “How to Prevent a Banking Panic: The Barings Crisis of Revisited.”. Retail Banking I is the first level of qualification towards becoming a certified retail banker.

The course is designed to introduce candidates to the core competencies required for success within a retail bank. Chapter 18 Historical Development of the Banking Industry.

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Historical Development of the Banking Industry | Many PPT

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