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Running a bank in Australia: 30% of your income turns into profit; the risks are basically zero.

Foreign banks came in the 90s after banking deregulation but most left. They couldn't compete because they didn't have cheap money from depositors. Some are still here, ING, HSBC, Rabobank, Citi

Presumably a Well Fargo or Bank of Japan would have to offer a big bonus to everyone who opens a deposit account, to try to round up some stable funding and get on the same competitive basis. And that is part of where the consumer upside would come from.