Aussie Bank Share Price Decline

[McGyro]

Anyone know why the sharp decline in prices over this month?
Nerves over the November government review report?
Valuations still look good.

[Okebw]

NZ is fast tracking the third Basel accord relative to the rest of the world. Potentially the market pre-empting the decline in profits this will result in?

[macduffy]

A number of possible reasons:

The Basle capital measures mentioned above. Note, however that the Aussie banks - parents of the big four in NZ - are questioning the "excessive" measures, given that they are already among the best capitalised banks in the world. May or may not wash with the authorities!

A perception that bank SP's have run a bit hard and are due for a correction, despite still showing good yields at current prices.

Biggest issue is probably the growing realisation that USA QE is coming to an end and will result in higher bond rates.