  A second channel of possible effect would be if there were some generalised disruption in global wholesale funding markets. Here it is important to note that, in the post-crisis environment, the Australian banks have significantly strengthened their positions.
They have increased their reliance on domestic deposit funding, lengthened the average term of their wholesale funding, and correspondingly reduced their reliance on short-term wholesale debt. These changes will help to  2  BIS central bankers’ speeches  make them more resilient to any disruptive event in international credit markets, should it occur.