As for offshore issuance in January, the total was only the equivalent of A$14 billion, not quite two-thirds of the volume seen in January 2009. But as with January 2009, just about all of it came from the domestic banks.However, the banks are not as desperate to raise funds this year and don't have the same volume of maturities to roll over. In terms of plain vanilla bond issuance, Commonwealth Bank raised the least at just A$526 million, according to our records.National Australia Bank came third, with almost A$3.2 billion raised, and ANZ raised A$3.8 billion over the month. Westpac was the most active, with a total of almost A$5.1 billion raised.