Westpac confirms no earnings impact from CDOs
|
|
Westpac Banking Corporation (WBC) | 4:57 pm, Friday 25 July 2008 | WBC | 22.200 |
 -2.400 |
(-9.76%) |
Westpac confirms no earnings impact from CDOs
Westpac today confirmed that its small, high quality Collateralised Debt
Obligation
(CDO) portfolio has experienced no measurable impact on earnings.
The portfolio (which also includes Collateralised Loan Obligations [CLOs]) is
held
on balance sheet and is therefore accounted for on a fair value (marked to
market)
basis.
Westpac continues to manage its risk in a conservative and prudent manner.
Ends.
Media enquiries
David Lording Jane Counsel
Westpac Media Relations Westpac Media Relations
Ph: 02 8253 3510 Ph: 02 8253 3443
Ph: 0419 683 411 Ph: 0416 275 273
Investor enquiries
Andrew Bowden
Westpac Investor Relations
Ph: 02 8253 4008
Ph: 0438 284 863