Recent Trends in Australian Banks’ Bond Issuance
نویسندگان
چکیده
Bonds account for almost one-quarter of Australian banks’ total funding, with around three-quarters of the stock of bonds outstanding issued offshore.1 While the composition of banks’ funding had been fairly stable prior to the financial crisis, since then the share of bonds in overall funding has increased by a couple of percentage points as banks have sought to attract more stable and longer-term sources of funding. This article discusses the changes in the patterns of Australian banks’ bond issuance, as well as the impact of the financial market turbulence on bond pricing and maturities.
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