Westpac’s credit exposures surge on Aussie dollar moves

- By Lea Mok
- 03 Sep 2026

Westpac recorded multi-quarter highs in its credit valuation adjustment (CVA) and counterparty credit risk (CCR) charges in the three months to June 2026, which rose by a combined A$1.5 billion ($1.05 billion), as movements in Australian dollar rates drove up the value of derivatives on the bank’s books.

CVA risk-weighted assets (RWAs) surged by 23%, or A$615 million, to A$3.3 billion, marking the

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