Its Over, page-17056

Contrast our RBA's response
"Australian banks are 'unquestionably strong' with solid capital and liquidity buffers. Even if markets remain strained for a time, Australian banks' issuance will continue to benefit from the strength of their balance sheets."

with ECB's Largade

"We believe that the euro area banking sector is resilient, with strong capital and liquidity positions"

....nonetheless our local banks are not completely immune. Their cost of funds will rise and a global banking crisis which if materialises will likely lead to a credit crunch that will negatively impact the global economy and leave them no better than where they are at now.