Westpac’s IRRBB charges rose faster than peers’ in Q2

Over 9% of bank’s total RWAs linked to interest rate risk, up from 6% three months earlier

Westpac saw risk-weighted assets (RWAs) for interest rate risk in the banking book (IRRBB) soar 63% in the second quarter – far faster than at its domestic peers, where the latest increases showed signs of slowing down compared to previous quarters.

As of last quarter, Westpac’s IRRBB RWAs were the smallest among Australia’s big four banks. The latest figure of A$43.5 billion ($31.9 billion) ranked it second-highest of the group, after National Australia Bank’s 19% to A$47.6 billion.

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