The wholesale funding task of banks has "become more manageable", the Reserve Bank of Australia noted in the minutes of its March monetary policy meeting, which was released yesterday.The minutes included a preview of the half-yearly Financial Stability Report, due for release at the end of next week.On funding, the RBA said deposit growth was "continuing to outpace growth in bank credit by a wide margin."Banks in Australia continued to record robust profits, the RBA noted. "Although the slow credit growth environment was likely to constrain the pace of future profit growth," it said. The minutes highlighted some themes on asset quality."Aggregate measures of household financial stress remained low", the RBA noted. Evidence of this includes a high household saving rate at around 10 per cent, signs of "more conservative investment preferences", as well as "the decision of many households to repay their debt more quickly than required."On the other hand, "mortgage arrears rates remained somewhat higher than a few years ago," the minutes noted.In the business sector, "conditions continued to vary significantly… with the divergent experiences helping to explain why banks' non-performing business loans and business failure rates were somewhat higher than average."