Original article by Michael Bennet
The Australian – Page: 23 : 26-Aug-14

Debt financing has become more affordable for Australia’s four main banks, meaning they can compete more vigorously for mortgage loan customers without sacrificing margins. National Australia Bank has in mid-August 2014 sourced $A1.65bn via bonds with a maturity of 5.25 years and an interest rate of just 82 basis points above the bank bill swap rate. This is the lowest cost for such a move by the "big four" since the global financial crisis. The majority of bank funding still comes from deposits, but long-term debt accounts for 12%

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