Over the next week, three of the major banks will file their full-year earnings reports. Throw in Commonwealth Bank, which has already reported, and it is a reasonable assumption that headline earnings numbers approaching $25 billion will dominate popular discussion.

Of greater near-term consequence, however, will be what the banks’ chief financial officers have to say about their funding positions as the global financial sector lurches through a new bout of European-inspired instability that could easily turn into another full-blown global financial crisis.