The External Forces that impact on the Organisation
External forces are depending on Globalisation, Convergence, technology change, Value of the Dollar, Interest Rates, Political Climate and Economic Climate. Our various factors, including, but not limited to:
• Changes and the effect of, laws, regulations, taxation or accounting standards or practices and government policy
• the stability of Australian and international financial systems and disruptions to financial markets and any losses
• market volatility of uncertain conditions in funding, equity and asset markets
• adverse asset, credit or capital market conditions and changes to our credit ratings
• levels of inflation, interest rates, exchange rates and market and monetary fluctuations
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• market liquidity and investor confidence
• changes in economic conditions, consumer spending, saving and borrowing habits in Australia, New Zealand and in other countries in which Westpac or its customers or counterparties conduct their operations and our ability to maintain or to increase market share and control expenses;
• geographic competitors in the business areas in which Westpac conducts its operations;
• reliability and security of Westpac’s technology and risks associated with changes to technology systems information security breaches such as cyberattacks
• The time process of development and acceptance of new products and services by customers;
• changes in political, social or economic conditions in any of the major markets in which Westpac or its customers or counterparties