At its half-year results presentation on May 2, ANZ Banking Group (ANZ) revealed that its reliance on offshore term funding has continued to fall although the growth of the domestic proportion of the bank's total term book was small in the first half of 2011/12. ANZ issued 44 per cent of its first half term debt in Australian and New Zealand dollars; 34 per cent of the bank's term debt outstanding was denominated in domestic currencies by March 31 2012.