02.10.2008 - Australia's banks nervous over level of commercial exposure
From The Australian: Australia's major banks are estimated to have a collective $200 billion exposure to the local commercial property market, a sector that is being drawn deeper into the worsening financial cycle. Based on figures from investment bank Deutsche Bank, the nation's top four banks each have a commercial property book -- made up of retail, commercial and hotel assets -- of $30-40 billion, with up to $6 billion of development. At the next level down, the biggest holder of commercial and construction assets is HBOS-owned BankWest at nearly $20 billion, followed by St George at $14 billion and Suncorp at about $11.5 billion...... Full Article: Source