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Australian banks' debt risk rises to highest in 9 months

Banks hit by falling commodity prices, lower business confidence

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The average cost to insure debt issued by Australia's four major banks, including ANZ, climbed as high as 71.1 basis points on Jan 6, a level unseen since April 2014.

Sydney

DEFAULT risk for Australia's biggest banks has risen to a nine-month high as the economy struggles amid tumbling commodity prices and wilting business confidence.

The average cost to insure debt issued by Commonwealth Bank of Australia (CBA), Westpac Banking Corp, Australia

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