AFR: Aussie dollar funding crisis squeezing the banks

Australian money market rates are at crisis-like levels, pressuring the major lenders at a time when they can least afford it.

During the darkest days of the global financial crisis, when terrified policymakers feared cash machines would run dry and wages would go unpaid, there was one measure they turned to gauge the money markets’ level of panic.

The full article is available at https://www.afr.com/business/banking-and-finance/its-complicated-the-aussie-dollar-funding-crisis-squeezing-the-banks-20180720-h12y73

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