Throughout the nineteenth and twentieth centuries permanent building societies have been important providers of housing finance in Australia. Despite their long history Australian building societies have been disappearing at a steady rate since the early 1980s as they have converted into banks...

Although there has been significant research on US financial intermediaries' stock returns and sensitivity to interest yields, there has only been limited research on Australian bank stock returns and key macro variables, such as interest rates and exchange rates. The aim of this article is to...