Yesterday, the Australian Bureau of Statistics (ABS) released its National Financial Accounts for the June quarter, which revealed a large $31.8 billion (4%) rise in Australian banks’ gross external liabilities (offshore borrowings) in the June quarter, with borrowings now only marginally below December’s record high.
Foreign deposits (+$18 billion) and bonds issued offshore (+$13 billion) drove the quarterly lift on offshore borrowings by the banks:
