Group Funding

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The Group Funding team is part of Group Treasury. Our strategy is to ensure sufficient, cost-effective and sustainable funding in the long term to meet the ongoing liquidity needs of the Commonwealth Bank Group and to satisfy the prudential requirements imposed by management and monetary authorities. This strategy is supported by regular calling programs and roadshows to ensure the Bank’s international profile is maintained and its credit strength is well understood by investors and intermediaries. The Bank targets an ‘AA’ credit rating band and the maintenance of the Bank’s credit rating is paramount. Group Funding is responsible for keeping the ratings agencies informed of all material developments in the Bank Group’s business which may impact on the credit ratings and therefore affect the cost of the Bank’s wholesale funding.

Funding diversification

Group Funding’s role is to ensure that the Commonwealth Bank Group has ready access to funding from capital markets offshore and in Australia.
The major borrowing programs are:

USD70 billion EMTN program
USD30 billion USCP program
USD7 billion ECP/CD program
USD30 billion USMTN program
Domestic Debt Program
USD5 billion Bankwest ECP program

Target markets are sophisticated international and domestic, wholesale and retail investors.

Issue parameters

Target costs of funds from long-term and short-term debt raisings are set by Group Funding. These are revised from time to time to reflect changing market conditions and the Bank’s appetite for funding.

We are committed to building long-term client relationships, offering innovative client solutions, flexible service delivery and rapid turnaround times. This commitment has been acknowledged by leading industry authorities that have awarded our team the following accolades:

mtn-i Award for Best Financial Institution Issuer 2009
Capital Markets Daily Award for Best Structured MTN Issuer 2009
Euroweek Award for Best Structured MTN Issuer 2009
Euroweek Award for Best Financial Institution MTN issuer 2009

Ben Stewart                                             Liam Carden
+44 20 7710 3586                                    +44 20 7710 3916
ben.stewart@cba.com.au                         liam.carden@cba.com.au

Important Information

The information contained within this website was prepared as at 1/09/10 and believed to be correct and not misleading as at that date, however, it should not be assumed to be correct at any subsequent date. To the extent permitted by law, neither Commonwealth Bank of Australia ABN 48 123 123 124 - AFSL 234945 - nor any of its subsidiaries accept liability to any person arising from the use of this website. Commonwealth Bank of Australia is referred to throughout this website, however, the various activities described are undertaken by either the Bank or wholly owned subsidiaries of the Bank including but not limited to the Colonial First State Investments Limited ABN 98 002 348 352, Commonwealth Securities Limited ABN 60 067 254 399 and ASB Bank Limited incorporated in New Zealand. This web-site is approved and distributed by Commonwealth Bank of Australia incorporated in Australia with limited liability. Registered in England No. BR250 and regulated in the UK by the Financial Services Authority (FSA).