The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Victor German - Macquarie Research - Analyst
: Thank you, Jill. I was hoping to turn attention to Institutional Bank, if possible. If I look at the result, it was, excluding markets income, very good
result. It looks like Asia has driven a huge part of it, both in terms of volume growth, or particularly in terms of average asset growth. So I would be
hoping if Mark or Shayne, you could provide some color in terms of what drove that? And to what extent -- I know there's some liquidity component
that's benefiting you, to what extent that potentially may unwind in future periods?
And then the second question, also staying on Institutional, is with the chart that you have provided for us in terms of leverage to lower rates --
sorry, leverage to higher rates. It excludes, obviously, a very large component of Institutional deposits in Asia. I'd be interested to sort of hear your
thoughts around potential leverage to high, particularly U.S. dollars, in that business over the next couple of halves.
Question: Victor German - Macquarie Research - Analyst
: Sorry, sorry, just -- I don't know, I'm sort of potentially pushing my luck a little bit. But any chance we can get sort of sensitivity to a 25 basis point
move on that unhedged portion of deposits?
Question: Victor German - Macquarie Research - Analyst
: No, non-replicated. So this stuff that sits in Mark's book, which is not replicated.
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