ASSIGNMENT ON ANALYSIS OF CHALLENGES FACE BY BANKS DURING COVID - 19.

ANALYSIS OF
CHALLENGES FACE BY
BANKS DURING COVID -
19
COMMON WEALTH
BANK VS WESTPAC
Name of the Student

Introduction
• The global pandemic known as the Covid 19 has
bought about unprecedented loss to the human
lives as well as the financial systems
• With more than three months of crisis, the
pandemic has brought about consistent losses to
the economy as a whole.
• The study is aimed at understanding these losses
and thereby outlining the manner in which the
banking organizations such as the Westpac and
the Commonwealth have been planning to deal
with the losses
• The barriers faced by them will be discussed
along with the responses of the banking
enterprises.

Research Objectives
• To assess the impact that Covid 19 has on
business operations
• To determine the specific impact that Covid 19
has had on the banking sector
• To assess how banks have been conducting
associated operations in the light of the crisis
brought on by Covid 19
• To compare the responses of the Commonwealth
Bank to the Covid 19 crisis with the responses by
Westpac
• To generate a series of recommendations that can
be taken into consideration by the Commonwealth
Bank and Westpac for bringing about an
improvement in their operations.

Review of Literature
• The outbreak of the Covid 19 pandemic is posing
a clear risk and threat to global financial stability
(King et al. 2020).
• As a consequence of the spike in volatility in the
global marketplace, market liquidity is something
that has witnessed a significant deterioration, and
this is something that holds true for markets that
are traditionally perceived to be quite deep, a
good example in this respect being the American
treasury market (Latham 2020).
• Most central banks and financial institutions that
are situated in low income countries or in
emerging economies have also cut down their
policy rates by a considerable extent (Maital and
Barzani 2020).