Bank wholesale funding costs have quadrupled: NAB CEO

NAB CEO Ross McEwan said being “very well regulated” helps. (Image: NZ Herald)

Tue, 18 Oct 2022

Bank wholesale funding costs have jumped from about 100 basis points to about 400bp in the past six to 12 months, said National Australia Bank chief executive Ross McEwan.Those costs could rise still further “if markets get more and more spooked about what’s going on in the world", McEwan said at a Trans-Tasman Business Circle event at the Australian High Commission in Wellington.NAB and its local subsidiary, Bank of New Zealand, rely on wholesale funding for between 20% and 25% of their funding, McEwan said.These rising wholes...

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