On Thursday, the Australian Bureau of Statistics (ABS) released its National Financial Accounts for the September quarter, which revealed a $15 billion (2%) decline in Australian banks’ gross external liabilities (offshore borrowings) in the September quarter, with borrowings also down 1% over the year.
Bonds issued offshore (-$11 billion), One Name Paper (-$9 billion) and loans (-$5 billion) drove the quarterly fall in offshore borrowings by the banks:
