Via Banking Day:
The RBA’s Term Funding Facility, intended to foster “Support for Business Credit”, to quote the sub-head from the governor’s landmark speech in mid-March, seems to be missing the mark.
Or banks, as the beneficiaries of this cheap as chips funding, are in the same bind as early on in every downturn: supply and demand for credit are tepid. In 2020 amid the Covid pandemic, credit conditions are bleak.
