The Financial System
Australian banks are some of the most successful and profitable banks in the world. In the last financial year, the “Big 4” banks produced combined profits in excess of $30 billion dollars.What are your thoughts on the record profits enjoyed by Australian Banks? Is this level of profits excessive? Or are the banks earning fair returns for the important role that they play in the financial system?
Your written reflection will need to include a brief discussion of key issues and facts in relation to this topic; an example from your own personal experience that helpsto form your opinion; and your own personal thoughts on whether you believe that Australian banks yield excessive profit.
Some useful references are:
· 25556 The Financial System lecture note
· Ben Hunt and Chris Terry, 2015, Financial Institutions + Markets, 7th edn, Cengage Learning, South Melbourne.
· Farr, M. “Australian banks top global list as Labor persists in demands for a royal commission” Available at: http://www.news.com.au/finance/economy/australian-economy/australian-banks-top-global-list-as-labor-persists-in-demands-for-a-royal-commission/news-story/aefa72c371555ced47804f9604c25c7c)
· Ellis, L. “Reserve Bank of Australia Speech on Financial Stability and the Banking Sector” Available at: http://www.rba.gov.au/speeches/2016/sp-so-2016-07-12.html).
· Articles written in newspapers business journal or Internet sources.
Requirements for the written reflections
A written reflection is where you write your own thoughts or opinions on a topic that you are given to research. It can reflect how your views developed, changed or are supported by the research that you have undertaken. It is not simply a description of topic being covered.
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