Long term wholesale funding costs and the cost of deposits had improved. (afr.com)
I believe that it is difficult for the credit card issuers to pass along the increases in wholesale funding if their portfolios are basically fixed rate. (basehitinvesting.com)
If short term wholesale funding spreads remained elevated, this would have impact in the second half of a «couple of basis points, but there are a few moving parts». (afr.com)