30 July 2013 Exchange Rate Perspectives: FX and the Financial Transaction Tax Figure 43: Equity inflows have tracked the STOXX Figure 44: Foreign interest on the bond side boomed in !late 2006 and has slowed now 500 400 300 200 100 0 -100 -200 -300 400 Jan-33 Not Feuer, Infbws Not Eeuea Outfbws —Cum Sr= 50 IS Al arp05 Jan-07 Jan-09 Jan-11 Jan-13 San Pan* Sint Mooing Awn LP awl lanai Canal Am Australia (AUD bn) [Figure 45: The basic balance remains negative 4400 4100 660 3800 460 3500 350 3200 250 2900 160 2600 50 2300 -60 2000 -160 1700 -250 .360 460 Jan-03 —Basle Damsel] sum 41.1D/USD fm) Dec-94 Dec-98 Dec-02 Dec-08 San OS IX Anan. awl RBA 120 1.10 76 1.00 SO 0.90 0.80 26 0.70 0.60 -25 0.50 — Nat Bond Infbres Nat Bond Outltaws —10YE1 OS Jan-05 Jan-07 Jan-09 Jarill Sane Detach. Sam in &taxon Can San Jan-13 5.0 4.0 30 2.0 1.0 Figure 46: ...in spite of net FDI inflows 100 Dec -50 -10 -SO Jan-94 Jan-97 Janie* Jan03 Jan48 Jan-09 Jan-12 } Saws ae sx In nav RS.4 I Figula 47: Net Porttolio flows have been falling since 200 -I Not Pardon lbws 180 Ponialb Oudbw 120 Ponied° Inflow so 40 0 -40 -80 200 160 120 so 40 0 -40 -so -120 J -120 Jan-9I Jan-94 Jan-97 Jan-00 Jan-03 Jan-06 Jan-09 Jan-12 San CO a Rosa. awl RBA Page 32 I Figure 48: Foteign investors have favored Australian debt 2010 !(negative IIP a liability for AU)... Ma -93 Mar-91 Mar-98 Mar-02 Mar46 Mar-10 San DS Al linen n RSA 110 I CC 0 DEC 070 0 CC DEC Deutsche Bank Securities Inc. CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0104545 SONY GM_00250729 EFTA01449228