25 July 2008
Westpac today confirmed that its small, high quality Collateralised Debt Obligation (CDO) portfolio has experienced no measurable impact on earnings.
The portfolio (which also includes Collateralised Loan Obligations [CLOs]) is held on balance sheet and is therefore accounted for on a fair value (marked to market) basis.
Westpac continues to manage its risk in a conservative and prudent manner.
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