Australian Big 4 Banks - Naughty or Nice?

Has your bank been NÁUGHTY or NICE? How do the Big 4 Australian Banks rate? ANZ Commonwealth NAB Bank ANZ Westpac Who's on Santa's list? A recent history of the Big 4 and their tomfoolery on rate day 4.75% Cash Rate RATE PASSED % (Anz) (I +0.37% +0.25% +0.35% +0.45% 4,25% Cash Rate RATE PASSED % RATE PASSED % (ANZA -0.25% -0.20% -0.25% -0.25%, 0.10% 0.00% 0.10% -0.10% RATE PASSED % +0.45% +0.43% +0.39% +0.35% 3.25% Cash Rate 3.00% Cash Rate 7 Oct 09 -1.00% -0.25% +0.25% +0.25% 7 Apr 10 8 Apr 09 4 Nov 09 3 Mar 10 3 Nov 10 2 Nov 11 7 Dec 11 4 Feb 09 2 Dec 09 5 May 10 +0.25% +0.25% +0.25% +0.25% +0.25% -0.25% -0.25% ALLBIG4 PASSED -1.00% ALL BIG4 ALLBIG4 PASSED PASSED +0.25% +0.25% ALLBIG4 PASSED ALLBIG4 PASSED +0.25% +0.25% +0.25% ALLBIG4 ALLBIG4 PASSED -0.25% PASSED *Timeline not to scale Who's been the naughtiest? Days taken to pass on rate changes On average the big 4 banks take 10.1 days to pass on rate cuts and just 4.79 days to pass on rate rises DAYS TO PASS ON RATE CHANGE 10 11 12 13 9 days 9 days ANZ 8 Apr 09 0.25% Commonwealth Bank NAB No Change Westpac 12 days 7 Oct 09 +0.25% ANZ 5 days Commonwealth Bank 6 days NAB 5 days Westpac 5 days 6 days 6 days ANZ 4 Nov 09 +0.25% Commonwealth Bank NAB 3 days Westpac 3 days 2 Dec 09 +0.25% ANZ 6 days Commonwealth Bank 8 days NAB 3 days 3 days Westpac 3 days 3 days 3 days 3 days ANZ 3 Mar 10 Com. Bnk +0.25% NAB Westpac 7 Apr 10 +0.25% ANZ Com. Bnk 3 days 3 days NAB 3 days 3 days Westpac ANZ 5 May 10 +0.25% 3 days 3 days Com. Bnk NAB 2 days Wstpc 2 days ANZ 13 days 3 Nov 10 Com. Bnk +0.25% 3 days 12 days 13 days NAB Westpac ANZ 13 days 2 Nov 11 0.25% Com. Bnk 3 days NAB 6 days Westpac 13 days ANZ 10 days 7 Dec 11 0.25% Commonwealth Bank 10 days 13 days NAB Westpac 13 days Bank profit to Christmas goodies ratio Big 4 Banks profit by delaying December 2011 rate cut Big 4 With the extra profit from delaying the rate cut, the Big 4 could afford to buy every child in Australia** total profit $65.98* AWESOME CADBURY MILLION SANTA STOCKINGS Christmas goodies this equates to: EXTRA PROFIT ANZ Delay Rate cut 10 Days $10.10 MILLION 48,116 KM OF GIFT WRAP? ANZ EXTRA PROFIT 5,511,237 BOTTLES OF BEER Delay Rate cut 10 Days $11.02 MILLION NAB EXTRA PROFIT -1,377,031 KILOGRAMS OF HAM Delay Rate cut 13 Days $21.30 Commonwealth Bank MILLION EXTRA PROFIT $23.56 MILLION 47,109 MOUNTAIN BIKES Delay Rate cut 13 Days Westpac Data correct as at 15/12/2011 mozo ^Based on rate changes passed on between 8/4/2009 - 7/12/2011 *Assumes 7.9% of loan portfolio are fixed rates so excuded. Source ABS **ABS June 2010: 4.23 million children under the age of 15 your money info zone Based on retal prices rounded to the nearest unit 1 $5.20 per stocking 2. 21c per metre 4. $1547 per kg 3. $2 per bottle 5. $500 per bike Has your bank been NÁUGHTY or NICE? How do the Big 4 Australian Banks rate? ANZ Commonwealth NAB Bank ANZ Westpac Who's on Santa's list? A recent history of the Big 4 and their tomfoolery on rate day 4.75% Cash Rate RATE PASSED % (Anz) (I +0.37% +0.25% +0.35% +0.45% 4,25% Cash Rate RATE PASSED % RATE PASSED % ANZ) (ANZA -0.25% -0.20% -0.25% -0.25%, 0.10% 0.00% 0.10% -0.10% RATE PASSED % anzA) I/ +0.45% +0.43% +0.39% +0.35% 3.25% Cash Rate 3.00% Cash Rate 7 Oct 09 -1.00% -0.25% +0.25% +0.25% 7 Apr 10 8 Apr 09 4 Nov 09 3 Mar 10 3 Nov 10 2 Nov 11 7 Dec 11 4 Feb 09 2 Dec 09 5 May 10 +0.25% +0.25% +0.25% +0.25% +0.25% -0.25% -0.25% ALLBIG4 PASSED -1.00% ALL BIG4 ALLBIG4 PASSED PASSED +0.25% +0.25% ALLBIG4 PASSED ALLBIG4 PASSED +0.25% +0.25% +0.25% ALLBIG4 ALLBIG4 PASSED -0.25% PASSED *Timeline not to scale Who's been the naughtiest? Days taken to pass on rate changes On average the big 4 banks take 10.1 days to pass on rate cuts and just 4.79 days to pass on rate rises DAYS TO PASS ON RATE CHANGE 8 10 11 12 13 9 days 9 days ANZ 8 Apr 09 0.25% Commonwealth Bank NAB No Change Westpac 12 days 7 Oct 09 +0.25% ANZ 5 days Commonwealth Bank 6 days NAB 5 days Westpac 5 days 6 days 6 days ANZ 4 Nov 09 +0.25% Commonwealth Bank NAB 3 days Westpac 3 days 2 Dec 09 +0.25% ANZ 6 days Commonwealth Bank 8 days NAB 3 days 3 days Westpac 3 days 3 days 3 days 3 days ANZ 3 Mar 10 Com. Bnk +0.25% NAB Westpac 7 Apr 10 +0.25% ANZ Com. Bnk 3 days 3 days NAB 3 days 3 days Westpac ANZ 5 May 10 +0.25% 3 days 3 days Com. Bnk NAB 2 days Wstpc 2 days ANZ 13 days 3 Nov 10 Com. Bnk +0.25% 3 days 12 days 13 days NAB Westpac ANZ 13 days 2 Nov 11 0.25% Com. Bnk 3 days NAB 6 days Westpac 13 days ANZ 10 days 7 Dec 11 0.25% Commonwealth Bank 10 days 13 days NAB Westpac 13 days Bank profit to Christmas goodies ratio Big 4 Banks profit by delaying December 2011 rate cut Big 4 With the extra profit from delaying the rate cut, the Big 4 could afford to buy every child in Australia** total profit $65.98* AWESOME CADBURY MILLION SANTA STOCKINGS Christmas goodies this equates to: EXTRA PROFIT ANZ Delay Rate cut 10 Days $10.10 MILLION 48,116 KM OF GIFT WRAP? ANZ EXTRA PROFIT 5,511,237 BOTTLES OF BEER Delay Rate cut 10 Days $11.02 MILLION NAB EXTRA PROFIT -1,377,031 KILOGRAMS OF HAM Delay Rate cut 13 Days $21.30 Commonwealth Bank MILLION EXTRA PROFIT $23.56 MILLION 47,109 MOUNTAIN BIKES Delay Rate cut 13 Days Westpac Data correct as at 15/12/2011 mozo ^Based on rate changes passed on between 8/4/2009 - 7/12/2011 *Assumes 7.9% of loan portfolio are fixed rates so excuded. Source ABS **ABS June 2010: 4.23 million children under the age of 15 your money info zone Based on retal prices rounded to the nearest unit 1 $5.20 per stocking 2. 21c per metre 4. $1547 per kg 3. $2 per bottle 5. $500 per bike Has your bank been NÁUGHTY or NICE? How do the Big 4 Australian Banks rate? ANZ Commonwealth NAB Bank ANZ Westpac Who's on Santa's list? A recent history of the Big 4 and their tomfoolery on rate day 4.75% Cash Rate RATE PASSED % (Anz) (I +0.37% +0.25% +0.35% +0.45% 4,25% Cash Rate RATE PASSED % RATE PASSED % ANZ) (ANZA -0.25% -0.20% -0.25% -0.25%, 0.10% 0.00% 0.10% -0.10% RATE PASSED % anzA) I/ +0.45% +0.43% +0.39% +0.35% 3.25% Cash Rate 3.00% Cash Rate 7 Oct 09 -1.00% -0.25% +0.25% +0.25% 7 Apr 10 8 Apr 09 4 Nov 09 3 Mar 10 3 Nov 10 2 Nov 11 7 Dec 11 4 Feb 09 2 Dec 09 5 May 10 +0.25% +0.25% +0.25% +0.25% +0.25% -0.25% -0.25% ALLBIG4 PASSED -1.00% ALL BIG4 ALLBIG4 PASSED PASSED +0.25% +0.25% ALLBIG4 PASSED ALLBIG4 PASSED +0.25% +0.25% +0.25% ALLBIG4 ALLBIG4 PASSED -0.25% PASSED *Timeline not to scale Who's been the naughtiest? Days taken to pass on rate changes On average the big 4 banks take 10.1 days to pass on rate cuts and just 4.79 days to pass on rate rises DAYS TO PASS ON RATE CHANGE 8 10 11 12 13 9 days 9 days ANZ 8 Apr 09 0.25% Commonwealth Bank NAB No Change Westpac 12 days 7 Oct 09 +0.25% ANZ 5 days Commonwealth Bank 6 days NAB 5 days Westpac 5 days 6 days 6 days ANZ 4 Nov 09 +0.25% Commonwealth Bank NAB 3 days Westpac 3 days 2 Dec 09 +0.25% ANZ 6 days Commonwealth Bank 8 days NAB 3 days 3 days Westpac 3 days 3 days 3 days 3 days ANZ 3 Mar 10 Com. Bnk +0.25% NAB Westpac 7 Apr 10 +0.25% ANZ Com. Bnk 3 days 3 days NAB 3 days 3 days Westpac ANZ 5 May 10 +0.25% 3 days 3 days Com. Bnk NAB 2 days Wstpc 2 days ANZ 13 days 3 Nov 10 Com. Bnk +0.25% 3 days 12 days 13 days NAB Westpac ANZ 13 days 2 Nov 11 0.25% Com. Bnk 3 days NAB 6 days Westpac 13 days ANZ 10 days 7 Dec 11 0.25% Commonwealth Bank 10 days 13 days NAB Westpac 13 days Bank profit to Christmas goodies ratio Big 4 Banks profit by delaying December 2011 rate cut Big 4 With the extra profit from delaying the rate cut, the Big 4 could afford to buy every child in Australia** total profit $65.98* AWESOME CADBURY MILLION SANTA STOCKINGS Christmas goodies this equates to: EXTRA PROFIT ANZ Delay Rate cut 10 Days $10.10 MILLION 48,116 KM OF GIFT WRAP? ANZ EXTRA PROFIT 5,511,237 BOTTLES OF BEER Delay Rate cut 10 Days $11.02 MILLION NAB EXTRA PROFIT -1,377,031 KILOGRAMS OF HAM Delay Rate cut 13 Days $21.30 Commonwealth Bank MILLION EXTRA PROFIT $23.56 MILLION 47,109 MOUNTAIN BIKES Delay Rate cut 13 Days Westpac Data correct as at 15/12/2011 mozo ^Based on rate changes passed on between 8/4/2009 - 7/12/2011 *Assumes 7.9% of loan portfolio are fixed rates so excuded. Source ABS **ABS June 2010: 4.23 million children under the age of 15 your money info zone Based on retal prices rounded to the nearest unit 1 $5.20 per stocking 2. 21c per metre 4. $1547 per kg 3. $2 per bottle 5. $500 per bike Has your bank been NÁUGHTY or NICE? How do the Big 4 Australian Banks rate? ANZ Commonwealth NAB Bank ANZ Westpac Who's on Santa's list? A recent history of the Big 4 and their tomfoolery on rate day 4.75% Cash Rate RATE PASSED % (Anz) (I +0.37% +0.25% +0.35% +0.45% 4,25% Cash Rate RATE PASSED % RATE PASSED % ANZ) (ANZA -0.25% -0.20% -0.25% -0.25%, 0.10% 0.00% 0.10% -0.10% RATE PASSED % anzA) I/ +0.45% +0.43% +0.39% +0.35% 3.25% Cash Rate 3.00% Cash Rate 7 Oct 09 -1.00% -0.25% +0.25% +0.25% 7 Apr 10 8 Apr 09 4 Nov 09 3 Mar 10 3 Nov 10 2 Nov 11 7 Dec 11 4 Feb 09 2 Dec 09 5 May 10 +0.25% +0.25% +0.25% +0.25% +0.25% -0.25% -0.25% ALLBIG4 PASSED -1.00% ALL BIG4 ALLBIG4 PASSED PASSED +0.25% +0.25% ALLBIG4 PASSED ALLBIG4 PASSED +0.25% +0.25% +0.25% ALLBIG4 ALLBIG4 PASSED -0.25% PASSED *Timeline not to scale Who's been the naughtiest? Days taken to pass on rate changes On average the big 4 banks take 10.1 days to pass on rate cuts and just 4.79 days to pass on rate rises DAYS TO PASS ON RATE CHANGE 8 10 11 12 13 9 days 9 days ANZ 8 Apr 09 0.25% Commonwealth Bank NAB No Change Westpac 12 days 7 Oct 09 +0.25% ANZ 5 days Commonwealth Bank 6 days NAB 5 days Westpac 5 days 6 days 6 days ANZ 4 Nov 09 +0.25% Commonwealth Bank NAB 3 days Westpac 3 days 2 Dec 09 +0.25% ANZ 6 days Commonwealth Bank 8 days NAB 3 days 3 days Westpac 3 days 3 days 3 days 3 days ANZ 3 Mar 10 Com. Bnk +0.25% NAB Westpac 7 Apr 10 +0.25% ANZ Com. Bnk 3 days 3 days NAB 3 days 3 days Westpac ANZ 5 May 10 +0.25% 3 days 3 days Com. Bnk NAB 2 days Wstpc 2 days ANZ 13 days 3 Nov 10 Com. Bnk +0.25% 3 days 12 days 13 days NAB Westpac ANZ 13 days 2 Nov 11 0.25% Com. Bnk 3 days NAB 6 days Westpac 13 days ANZ 10 days 7 Dec 11 0.25% Commonwealth Bank 10 days 13 days NAB Westpac 13 days Bank profit to Christmas goodies ratio Big 4 Banks profit by delaying December 2011 rate cut Big 4 With the extra profit from delaying the rate cut, the Big 4 could afford to buy every child in Australia** total profit $65.98* AWESOME CADBURY MILLION SANTA STOCKINGS Christmas goodies this equates to: EXTRA PROFIT ANZ Delay Rate cut 10 Days $10.10 MILLION 48,116 KM OF GIFT WRAP? ANZ EXTRA PROFIT 5,511,237 BOTTLES OF BEER Delay Rate cut 10 Days $11.02 MILLION NAB EXTRA PROFIT -1,377,031 KILOGRAMS OF HAM Delay Rate cut 13 Days $21.30 Commonwealth Bank MILLION EXTRA PROFIT $23.56 MILLION 47,109 MOUNTAIN BIKES Delay Rate cut 13 Days Westpac Data correct as at 15/12/2011 mozo ^Based on rate changes passed on between 8/4/2009 - 7/12/2011 *Assumes 7.9% of loan portfolio are fixed rates so excuded. Source ABS **ABS June 2010: 4.23 million children under the age of 15 your money info zone Based on retal prices rounded to the nearest unit 1 $5.20 per stocking 2. 21c per metre 4. $1547 per kg 3. $2 per bottle 5. $500 per bike Has your bank been NÁUGHTY or NICE? How do the Big 4 Australian Banks rate? ANZ Commonwealth NAB Bank ANZ Westpac Who's on Santa's list? A recent history of the Big 4 and their tomfoolery on rate day 4.75% Cash Rate RATE PASSED % (Anz) (I +0.37% +0.25% +0.35% +0.45% 4,25% Cash Rate RATE PASSED % RATE PASSED % ANZ) (ANZA -0.25% -0.20% -0.25% -0.25%, 0.10% 0.00% 0.10% -0.10% RATE PASSED % anzA) I/ +0.45% +0.43% +0.39% +0.35% 3.25% Cash Rate 3.00% Cash Rate 7 Oct 09 -1.00% -0.25% +0.25% +0.25% 7 Apr 10 8 Apr 09 4 Nov 09 3 Mar 10 3 Nov 10 2 Nov 11 7 Dec 11 4 Feb 09 2 Dec 09 5 May 10 +0.25% +0.25% +0.25% +0.25% +0.25% -0.25% -0.25% ALLBIG4 PASSED -1.00% ALL BIG4 ALLBIG4 PASSED PASSED +0.25% +0.25% ALLBIG4 PASSED ALLBIG4 PASSED +0.25% +0.25% +0.25% ALLBIG4 ALLBIG4 PASSED -0.25% PASSED *Timeline not to scale Who's been the naughtiest? Days taken to pass on rate changes On average the big 4 banks take 10.1 days to pass on rate cuts and just 4.79 days to pass on rate rises DAYS TO PASS ON RATE CHANGE 8 10 11 12 13 9 days 9 days ANZ 8 Apr 09 0.25% Commonwealth Bank NAB No Change Westpac 12 days 7 Oct 09 +0.25% ANZ 5 days Commonwealth Bank 6 days NAB 5 days Westpac 5 days 6 days 6 days ANZ 4 Nov 09 +0.25% Commonwealth Bank NAB 3 days Westpac 3 days 2 Dec 09 +0.25% ANZ 6 days Commonwealth Bank 8 days NAB 3 days 3 days Westpac 3 days 3 days 3 days 3 days ANZ 3 Mar 10 Com. Bnk +0.25% NAB Westpac 7 Apr 10 +0.25% ANZ Com. Bnk 3 days 3 days NAB 3 days 3 days Westpac ANZ 5 May 10 +0.25% 3 days 3 days Com. Bnk NAB 2 days Wstpc 2 days ANZ 13 days 3 Nov 10 Com. Bnk +0.25% 3 days 12 days 13 days NAB Westpac ANZ 13 days 2 Nov 11 0.25% Com. Bnk 3 days NAB 6 days Westpac 13 days ANZ 10 days 7 Dec 11 0.25% Commonwealth Bank 10 days 13 days NAB Westpac 13 days Bank profit to Christmas goodies ratio Big 4 Banks profit by delaying December 2011 rate cut Big 4 With the extra profit from delaying the rate cut, the Big 4 could afford to buy every child in Australia** total profit $65.98* AWESOME CADBURY MILLION SANTA STOCKINGS Christmas goodies this equates to: EXTRA PROFIT ANZ Delay Rate cut 10 Days $10.10 MILLION 48,116 KM OF GIFT WRAP? ANZ EXTRA PROFIT 5,511,237 BOTTLES OF BEER Delay Rate cut 10 Days $11.02 MILLION NAB EXTRA PROFIT -1,377,031 KILOGRAMS OF HAM Delay Rate cut 13 Days $21.30 Commonwealth Bank MILLION EXTRA PROFIT $23.56 MILLION 47,109 MOUNTAIN BIKES Delay Rate cut 13 Days Westpac Data correct as at 15/12/2011 mozo ^Based on rate changes passed on between 8/4/2009 - 7/12/2011 *Assumes 7.9% of loan portfolio are fixed rates so excuded. Source ABS **ABS June 2010: 4.23 million children under the age of 15 your money info zone Based on retal prices rounded to the nearest unit 1 $5.20 per stocking 2. 21c per metre 4. $1547 per kg 3. $2 per bottle 5. $500 per bike Has your bank been NÁUGHTY or NICE? How do the Big 4 Australian Banks rate? ANZ Commonwealth NAB Bank ANZ Westpac Who's on Santa's list? A recent history of the Big 4 and their tomfoolery on rate day 4.75% Cash Rate RATE PASSED % (Anz) (I +0.37% +0.25% +0.35% +0.45% 4,25% Cash Rate RATE PASSED % RATE PASSED % ANZ) (ANZA -0.25% -0.20% -0.25% -0.25%, 0.10% 0.00% 0.10% -0.10% RATE PASSED % anzA) I/ +0.45% +0.43% +0.39% +0.35% 3.25% Cash Rate 3.00% Cash Rate 7 Oct 09 -1.00% -0.25% +0.25% +0.25% 7 Apr 10 8 Apr 09 4 Nov 09 3 Mar 10 3 Nov 10 2 Nov 11 7 Dec 11 4 Feb 09 2 Dec 09 5 May 10 +0.25% +0.25% +0.25% +0.25% +0.25% -0.25% -0.25% ALLBIG4 PASSED -1.00% ALL BIG4 ALLBIG4 PASSED PASSED +0.25% +0.25% ALLBIG4 PASSED ALLBIG4 PASSED +0.25% +0.25% +0.25% ALLBIG4 ALLBIG4 PASSED -0.25% PASSED *Timeline not to scale Who's been the naughtiest? Days taken to pass on rate changes On average the big 4 banks take 10.1 days to pass on rate cuts and just 4.79 days to pass on rate rises DAYS TO PASS ON RATE CHANGE 8 10 11 12 13 9 days 9 days ANZ 8 Apr 09 0.25% Commonwealth Bank NAB No Change Westpac 12 days 7 Oct 09 +0.25% ANZ 5 days Commonwealth Bank 6 days NAB 5 days Westpac 5 days 6 days 6 days ANZ 4 Nov 09 +0.25% Commonwealth Bank NAB 3 days Westpac 3 days 2 Dec 09 +0.25% ANZ 6 days Commonwealth Bank 8 days NAB 3 days 3 days Westpac 3 days 3 days 3 days 3 days ANZ 3 Mar 10 Com. Bnk +0.25% NAB Westpac 7 Apr 10 +0.25% ANZ Com. Bnk 3 days 3 days NAB 3 days 3 days Westpac ANZ 5 May 10 +0.25% 3 days 3 days Com. Bnk NAB 2 days Wstpc 2 days ANZ 13 days 3 Nov 10 Com. Bnk +0.25% 3 days 12 days 13 days NAB Westpac ANZ 13 days 2 Nov 11 0.25% Com. Bnk 3 days NAB 6 days Westpac 13 days ANZ 10 days 7 Dec 11 0.25% Commonwealth Bank 10 days 13 days NAB Westpac 13 days Bank profit to Christmas goodies ratio Big 4 Banks profit by delaying December 2011 rate cut Big 4 With the extra profit from delaying the rate cut, the Big 4 could afford to buy every child in Australia** total profit $65.98* AWESOME CADBURY MILLION SANTA STOCKINGS Christmas goodies this equates to: EXTRA PROFIT ANZ Delay Rate cut 10 Days $10.10 MILLION 48,116 KM OF GIFT WRAP? ANZ EXTRA PROFIT 5,511,237 BOTTLES OF BEER Delay Rate cut 10 Days $11.02 MILLION NAB EXTRA PROFIT -1,377,031 KILOGRAMS OF HAM Delay Rate cut 13 Days $21.30 Commonwealth Bank MILLION EXTRA PROFIT $23.56 MILLION 47,109 MOUNTAIN BIKES Delay Rate cut 13 Days Westpac Data correct as at 15/12/2011 mozo ^Based on rate changes passed on between 8/4/2009 - 7/12/2011 *Assumes 7.9% of loan portfolio are fixed rates so excuded. Source ABS **ABS June 2010: 4.23 million children under the age of 15 your money info zone Based on retal prices rounded to the nearest unit 1 $5.20 per stocking 2. 21c per metre 4. $1547 per kg 3. $2 per bottle 5. $500 per bike Has your bank been NÁUGHTY or NICE? How do the Big 4 Australian Banks rate? ANZ Commonwealth NAB Bank ANZ Westpac Who's on Santa's list? A recent history of the Big 4 and their tomfoolery on rate day 4.75% Cash Rate RATE PASSED % (Anz) (I +0.37% +0.25% +0.35% +0.45% 4,25% Cash Rate RATE PASSED % RATE PASSED % ANZ) (ANZA -0.25% -0.20% -0.25% -0.25%, 0.10% 0.00% 0.10% -0.10% RATE PASSED % anzA) I/ +0.45% +0.43% +0.39% +0.35% 3.25% Cash Rate 3.00% Cash Rate 7 Oct 09 -1.00% -0.25% +0.25% +0.25% 7 Apr 10 8 Apr 09 4 Nov 09 3 Mar 10 3 Nov 10 2 Nov 11 7 Dec 11 4 Feb 09 2 Dec 09 5 May 10 +0.25% +0.25% +0.25% +0.25% +0.25% -0.25% -0.25% ALLBIG4 PASSED -1.00% ALL BIG4 ALLBIG4 PASSED PASSED +0.25% +0.25% ALLBIG4 PASSED ALLBIG4 PASSED +0.25% +0.25% +0.25% ALLBIG4 ALLBIG4 PASSED -0.25% PASSED *Timeline not to scale Who's been the naughtiest? Days taken to pass on rate changes On average the big 4 banks take 10.1 days to pass on rate cuts and just 4.79 days to pass on rate rises DAYS TO PASS ON RATE CHANGE 8 10 11 12 13 9 days 9 days ANZ 8 Apr 09 0.25% Commonwealth Bank NAB No Change Westpac 12 days 7 Oct 09 +0.25% ANZ 5 days Commonwealth Bank 6 days NAB 5 days Westpac 5 days 6 days 6 days ANZ 4 Nov 09 +0.25% Commonwealth Bank NAB 3 days Westpac 3 days 2 Dec 09 +0.25% ANZ 6 days Commonwealth Bank 8 days NAB 3 days 3 days Westpac 3 days 3 days 3 days 3 days ANZ 3 Mar 10 Com. Bnk +0.25% NAB Westpac 7 Apr 10 +0.25% ANZ Com. Bnk 3 days 3 days NAB 3 days 3 days Westpac ANZ 5 May 10 +0.25% 3 days 3 days Com. Bnk NAB 2 days Wstpc 2 days ANZ 13 days 3 Nov 10 Com. Bnk +0.25% 3 days 12 days 13 days NAB Westpac ANZ 13 days 2 Nov 11 0.25% Com. Bnk 3 days NAB 6 days Westpac 13 days ANZ 10 days 7 Dec 11 0.25% Commonwealth Bank 10 days 13 days NAB Westpac 13 days Bank profit to Christmas goodies ratio Big 4 Banks profit by delaying December 2011 rate cut Big 4 With the extra profit from delaying the rate cut, the Big 4 could afford to buy every child in Australia** total profit $65.98* AWESOME CADBURY MILLION SANTA STOCKINGS Christmas goodies this equates to: EXTRA PROFIT ANZ Delay Rate cut 10 Days $10.10 MILLION 48,116 KM OF GIFT WRAP? ANZ EXTRA PROFIT 5,511,237 BOTTLES OF BEER Delay Rate cut 10 Days $11.02 MILLION NAB EXTRA PROFIT -1,377,031 KILOGRAMS OF HAM Delay Rate cut 13 Days $21.30 Commonwealth Bank MILLION EXTRA PROFIT $23.56 MILLION 47,109 MOUNTAIN BIKES Delay Rate cut 13 Days Westpac Data correct as at 15/12/2011 mozo ^Based on rate changes passed on between 8/4/2009 - 7/12/2011 *Assumes 7.9% of loan portfolio are fixed rates so excuded. Source ABS **ABS June 2010: 4.23 million children under the age of 15 your money info zone Based on retal prices rounded to the nearest unit 1 $5.20 per stocking 2. 21c per metre 4. $1547 per kg 3. $2 per bottle 5. $500 per bike