17 Mar 2011 - Lower credit growth and a rise in national savings are contributing to a reduction in the reliance of Australian banks on international funding markets, according to The Australian newspaper.

According to the report, top Australian bankers believe this year lenders will need to raise 30 to 40 per cent less in wholesale funding, on the back of a six to eight per cent increase in household credit growth, as opposed to the regular 10 to 15 per cent.

This lower demand, along with a jump in consumer savings, had led to an lift in bank funding from retail deposits.

The Australian reports that the major banks are still expected to raise more than $100 billion on international markets this year, despite the increase in deposits.
source: http://www.businessspectator.com.au