Half Year 2020 Westpac Banking Corp Earnings Presentation Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Victor German - Macquarie Research - Analyst : I was actually hoping to follow up on Andrew's question in terms of margin impact. I completely appreciate, Peter, what you were saying in terms of liquids and all other moving parts. But liquids don't actually have much of an impact on P&L, it might have an impact on margins. I guess your peers provided impact specifically related to lower interest rate, which is being offset by repricing. Are you able to give us a similar number to what peers have provided? And also on the tractor, are you able to tell us what the current rate is? So that's on interest rates. And then also, just a related question on that subject relating to New Zealand. I noticed a couple of economists, including yours, is now forecasting negative interest rate in New Zealand. Can you just walk us through sort of the mechanics of how that potentially plays out in terms of P&L? Obviously, you don't have the biggest exposure in New Zealand, but still fairly sizable, just interested in how it works both from a system perspective and P&L perspective.

Question: Victor German - Macquarie Research - Analyst : I'm just a little bit surprised, Gary, that you -- in the past, you've been probably one of the best in terms of disclosure of this particular issue. I'm just a little bit surprised why you don't want to give us just the number in terms of the total impact of tractor, low interest rates and also from repricing.