The Australian Bureau of Statistics (ABS) has released its National Financial Accounts for the September quarter, which revealed a 1.8% quarterly decline in Australian banks’ gross external liabilities (offshore borrowings), but a large 7.6% increase over the year.
One Name Paper (-$24 billion) and Deposits (-$10 billion) drove the quarterly decline in offshore borrowings by the banks over the September quarter, partly offset by a $9 billion rise Bonds and a $4 billion increase in both Loans and Other:
