The AFR’s Clancy Yeates published an article over the weekend contending that Australia’s banks have begun to shun wholesale debt markets amid rising funding costs:
The big four banks will this year have $110 billion in wholesale debt reach maturity, meaning they must either replace the debt by issuing new bonds, or repay it. In recent years, banks have raised more than the amount of debt maturing – which means they have increased their borrowing overall, in response to stronger demand for credit from their customers.
