On Thursday, the Australian Bureau of Statistics (ABS) released its National Financial Accounts for the December quarter, which revealed a $11 billion (1%) rise in Australian banks’ gross external liabilities (offshore borrowings) over the quarter, but with borrowings down 1% over the year.
One Name Paper (+$8 billion), Deposits (+$5 billion) and loans (+$5 billion) drove the quarterly rise in offshore borrowings by the banks:
