Our strategy


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
  • USD35 billion USCP program
  • USD30 billion USMTN program
  • Domestic Debt Program
  • ECP/CD program

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

Additional investor information.

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.

Minimum issue size for private placements off the EMTN and USMTN programs is USD1 million (or equivalent) and terms can be as short as one month. Most structures are acceptable and reverse enquiry is encouraged on the Bank's programs.

Important Information

The information (including any documentation) on this and the following website pages (the Website):

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  • Is not intended to constitute general or specific securities advice or a recommendation. The information does not take into account the investment objectives, financial situation and particular needs of any particular investor. Before making an investment decision on the basis of the information, you should consider whether it is appropriate in light of your particular investment needs, objectives and financial circumstances. We recommend that you consult with your professional advisers before making any form of investment.

The Group does not warrant or represent that the information on this Website free from errors or omissions or that it is fair or up to date. To the maximum extent permitted by law, neither the Group nor its directors, employees, agents or advisers (Associated Persons) accepts any liability whatsoever for any loss (including, without limitation, any liability arising from any fault or negligence on the part of the Group or its respective Associated Persons) arising from the use of material accessible from this site or otherwise arising in connection with the material on this site. This Website will not form the basis of any contract or commitment whatsoever. No sale of any Securities described on this Website will occur in any jurisdiction in which such offer, invitation, inducement, solicitation, recommendation or sale would be unlawful.