The AFR is reporting that:
Australia’s big four banks are tipped to raise $134 billion from wholesale markets this financial year, the most since 2009-10, as lenders use cheaper global funds to fuel domestic competition.
…The last time banks raised this much wholesale money was in financial 2010, when the government was guaranteeing bank borrowings in response to the financial crisis. The trend helps to lower banks costs, as most of the wholesale money being raised replaces more expensive funding secured during the crisis.