Australia's banks bulk up bonds
Australian banks increased their bond issuance in the first half of 2008 partly as precaution in case of the global financial turmoil worsening, said Guy Debelle, an assistant director of the Reserve Bank of Australia.
In the first half of the year issuance totalled $67 billion, well above the average of $32 billion for the same period over the previous three years.
Major banks are now generally ahead on their funding plans and the issuance has been more than enough to meet the banks' asset
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