...SYDNEY (S&P Global Ratings) Nov. 7, 2016--S&P Global Ratings today said that its ratings on Westpac Banking Corp. (Westpac; ##-/Negative/A-1+) are unchanged following the announcement of its full-year results today. Our ratings on Westpac's subsidiaries, including its wholly owned New Zealand banking subsidiary Westpac New Zealand Ltd., also remain unchanged. Overall, the full year results are in line with our expectations, with cash earnings of A$7,822 million remaining flat on the prior year. Westpac's Basel III Common Equity Tier 1 (CET1) capital ratio of 9.5% was above the bank's target range of 8.75% to 9.25%. We consider that further clarity on future international regulatory capital standards will determine the degree and timeframe for changes in the overall level of capital for the bank; we expect that such announcements will be forthcoming toward the end of 2016 or the beginning of 2017. In our view, there is some potential for us to assess Westpac's capital and earnings a category...
