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RBA: Banksters target customer Deposits for Dirty Loans

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Offshore funding pressures ease but banks now more reliant on customer deposits for mortgage lending: RBA

“Offshore investors have focused on the relatively strong position of the Australian banks compared with those in some other countries. The banks have therefore been able to take advantage of periods of more favourable market conditions to issue opportunistically,” says the RBA.

While it has become cheaper for banks to raise wholesale funding from offshore investors, a desire to seek "more stable funding sources" has caused customer deposits to increase to nearly 50% of banks' funding base, according to the RBA’s September Financial Stability Review.

The review says banks' use of offshore long-term debt has been broadly unchanged since 2007, accounting for a quarter of all liabilities, while there has been an increase in the use of deposits "across all types of banks in Australia, although it has been most pronounced for the regional and other smaller Australian-owned banks, which had previously used securitisation more heavily".

In terms of offshore funding, the RBA notes pressures in wholesale funding markets have eased since late last year, “allowing the large banks to maintain good access to international bond markets during the past six months”.

“The ongoing difficulties in Europe have been contributing to volatile funding conditions for Australian banks, but in recent quarters wholesale funding pressures have eased from the levels of late last year.

“Offshore investors have focused on the relatively strong position of the Australian banks compared with those in some other countries. The banks have therefore been able to take advantage of periods of more favourable market conditions to issue opportunistically,” says the RBA.

By Larry Schlesinger
Wednesday, 26 September 2012

 

 

 

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