Secured wholesale funding outflows surge 74% at Australian banks
Winding down of term funding facility responsible for September spike
Cash outflows stemming from secured wholesale funding rose 73.9% on aggregate at Australia’s ‘big four’ banks in the third quarter of 2023, as funds obtained from the central bank’s Covid-19-era funding facility reached maturity in September.
Aggregate outflows across ANZ, Commonwealth Bank of Australia (CBA), National Australia Bank (NAB) and Westpac rose by A$12.8 billion ($8.8 billion) to A$30.2 billion over the period. The increase was sharpest at ANZ, where the metric almost tripled to
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