Doing Business in Australia Breakfast Seminar
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1 Doing Business in Australia Breakfast Seminar George Hoffman Senior Vice President, PNC International Advisory December 4, 2015
2 Why are the Kangaroo and Emu on the Australian Coat of Arms? A. Because Dingos have rabies B. Because although Australia has the largest population of wild camels with one hump, they re more associated with the Middle East and Africa C. Because the Kangaroo and Emu are the tallest and proudest animals in Australia D. Because they are the only Australian animals that cannot walk backwards 2
3 Overview of Australia Population (2014): 23.6 million GDP: $1.44 trillion GDP per capita (USD): $61,024 Currency: Australian Dollar (AUD) Central Bank: Reserve Bank of Australia (RBA) 3
4 Assets (MM USD) Major Australian Banks Dominated by top 4 banks in the country, includes another 26 domestic commercial banks, 7 foreign bank subsidiaries, 15 rep offices of foreign banks, 8 building societies, and 75 credit unions. 775, , , , , , , , , , , , , , , ,000 National Australia ANZ Westpac Commonwealth Banking Sector Structure; Source: 4
5 Corporate and Consumer Payment Systems HVCS (High-Value Clearing System) Multilateral net settlement For high-value and urgent electronic payments US Equivalent: Fedwire/settlement for USD/AUD international wires BECS (Bulk Electronic Clearing System) CECS (Consumer Electronic Clearing System) APCS (Australian Paper Clearing System) Deferred net settlement For low-value automated transactions in Australia (debits and credits EFT (i.e. ACH) Deferred net settlement Proprietary debit card payments ATM and Card transactions Deferred Net Settlement Cheque Payments US equivalent: Check 5
6 Challenges of International Cash Management Treasury Structures Local Practices Payments Collections Liquidity Risks Controls and Visibility Regulation 6
7 AUD Outlook 7
8 Gateway Services PNC s service to assist our clients navigate the complexity of opening foreign bank accounts through language barriers, documentation and fulfilling local requirements. Comprised of Gateway Direct and Gateway Referral services Guidance in selecting the best banking partner to meet your global needs Gateway Direct Access to global banks spanning 23 countries throughout Europe, Asia and Latin America Receive white glove assistance in account opening documentation PNC serves as an ongoing liaison between our clients and their Gateway Direct partner(s) Gateway Referral Access to a network consisting of greater than 1,200 relationships in 150 countries Receive PNC s recommended bank partners in each country where you need local in-country assistance PNC provides a warm hand-off to initiate the relationship between our clients and correspondents Service Overview Information Reporting PNC s Multibank Reporting enhances Gateway Services for SWIFTenabled banks Funds Transfer PNC s Funds Transfer capabilities for streamlined approach to moving funds through MT101 messaging Client Care PNC Client Care through the process of identifying and establishing a relationship Gateway Direct banks 8
9 Multicurrency Accounts (MCA) MCA Overview Disbursements: Wires/Drafts/Payables Advantage Receivables Wires/Checks (International Cash Letter) Features: Standing Transfer Orders (STO) Daylight Overdraft Lines (DOD) Multibank Transfer Requests (SWIFT MT101) PNC Advantage No FBAR reporting requirements Funds are FDIC-insured Balances receive Earnings Credit (ECR) by default* Interest available in select currencies (EUR, MXN, CAD, CHF, JPY, GBP)* PINACLE Integration Information Reporting: Current & Previous Day Reporting Currency and USD-equivalent balances Run sensitivity reports through ad-hoc rate analysis tool Data transmissions available Funds Transfer: Initiate disbursements and book transfers Domestic and international wires Credit Management: Pay down foreign currency loans and commitments through samecurrency transactions via PINACLE Credit Management module PINACLE FX: Manage your foreign exchange hedging strategy *ECR/interest eligibility based on global market conditions and subject to change. Minimum balance requirements/account Balance Fee (ABF) may apply. 9
10 Multicurrency Accounts (MCA) continued MCA Sample Reports: 10
11 Country Profiles and International Information 11
12 Standard Disclosure PNC, PINACLE, Working Cash, ActivePay, Global Trade Excellence, XPACK and Vested Interest are registered marks of The PNC Financial Services Group, Inc.( PNC ). PDF or the PDF logo are either registered trademarks or trademarks of Adobe Systems Incorporated in the United States and/or other countries. Excel is either a registered trademark of Microsoft Corporation in the United States and/or other countries. Midland Loan Services, Enterprise!, CMBS Investor Insight, Portfolio Investor Insight, Borrower Insight, Deal Flow and Shared Servicing are registered marks of PNC Bank, National Association. Banking and lending products and services and bank deposit products and investment and wealth management and fiduciary services are provided by PNC Bank, National Association, a wholly-owned subsidiary of PNC and Member FDIC. Certain fiduciary and agency services are provided by PNC Delaware Trust Company. Equipment financing and leasing products are provided by PNC Equipment Finance, LLC, a whollyowned subsidiary of PNC Bank, National Association. Aircraft financing is provided by PNC Aviation Finance, a division of PNC Equipment Finance, LLC. Merchant services are provided by PNC Merchant Services Company. Private equity financing is provided by affiliates of PNC Equity Management Corp. Mezzanine financing is provided by PNC Mezzanine Capital Corp. Investment banking and capital markets activities are conducted by PNC through its subsidiaries PNC Bank, National Association, PNC Capital Markets LLC, and Harris Williams LLC. Services such as public finance advisory services, securities underwriting, and securities sales and trading are provided by PNC Capital Markets LLC. Merger and acquisition advisory and related services are provided by Harris Williams LLC. PNC Capital Markets LLC and Harris Williams LLC are registered broker-dealers and members of FINRA and SIPC. Harris Williams & Co. is the trade name under which Harris Williams LLC conducts its business. Foreign exchange and derivative products are obligations of PNC Bank, National Association. Securities products and brokerage services are offered through PNC Investments LLC, a registered broker-dealer and member of FINRA and SIPC. Insurance products and advice may be provided by PNC Insurance Services, LLC. Important Investor Information: Brokerage and insurance products are: Not FDIC Insured. Not Bank Guaranteed. May Lose Value. PNC does not provide legal, tax or accounting advice. PNC does not provide investment advice to Vested Interest plan sponsors or participants. Lending and leasing products and services, including card services, trade finance and merchant services, as well as certain other banking products and services, require credit approval The PNC Financial Services Group, Inc. All rights reserved. 12
13 This presentation was prepared for general information purposes only and is not intended as legal, tax or accounting advice or as a recommendation to engage in any specific transaction, including with respect to any securities of PNC, and does not purport to be comprehensive. Under no circumstances should any information contained in this presentation be used or considered as an offer or commitment, or a solicitation of an offer or commitment, to participate in any particular transaction or strategy. Any reliance upon the presentation is solely and exclusively at your own risk. Please consult your own counsel, accountant or other professional advisor regarding your specific situation. Any opinions expressed in this presentation are subject to change without notice. iphone is a trademark of Apple Inc. registered in the U.S. and other countries. PNC is a registered mark of The PNC Financial Services Group, Inc.( PNC ) 2015 The PNC Financial Services Group, Inc. All rights reserved. 13
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