National Australia Bank Ltd (NAB) has reported a 6.6 per cent fall in its total credit exposures during 2008/09.

NAB’s total credit exposures dropped by 6.6 per cent to $630.022 billion at September 30, from $675 billion a year earlier.

The September quarter credit exposures were 3.8 per cent lower than those reported by NAB at its half year 2009 result as at March 31.

The bank’s announcement on Thursday completed the risk and capital disclosures by Australia’s major banks under internationally accepted reporting standards, Pillar 3 of Basel II.

Basel II is the name given to the capital adequacy framework for authorised deposit-taking institutions (ADIs) that adopt more advanced risk management approaches.
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Australia’s big banks are still determining their possible indirect exposures to Bernard Madoff’s $US50 billion ($A75.82 billion) `Ponzi’ scheme in the United States.

Westpac has emerged as the only cleanskin, so far.

While all of the big four banks have no direct exposures to Madoff’s alleged fraud - the biggest Ponzi scheme in history - the process of identifying counterparties to any indirect exposures began last month as offshore financial institutions scrambled to discover the scope of their losses.
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Banking Group has emerged as having the highest level of on-balance sheet credit exposure of any major Australian bank, as the sector prepares for a tougher credit cycle.

ANZ and Macquarie Group on Wednesday reported their credit disclosures to September 30 under internationally accepted reporting standards - Pillar 3 of Basel II.

Basel II is the capital adequacy framework for Australian deposit-taking institutions (ADIs) that adopt more advanced risk management approaches.
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