Original article by James Thomson, Jonathan Shapiro
The Australian Financial Review – Page: 15 : 27-Apr-18
Australian Prudential Regulation Authority chairman Wayne Byres says the major banks have improved their lending standards, so a 10 per cap on growth in lending to residential property investors is no longer necessary. The cap will no longer enforced if banks can demonstrate that they have remained below it for the last six months and that they have complied with APRA’s requirements with regard to loan serviceability. Omkar Joshi of Regal Funds Management does not expect removing the cap to have a significant impact on the banks, given that their lending growth is below this level.
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, REGAL FUNDS MANAGEMENT PTY LTD, UBS HOLDINGS PTY LTD, CLSA AUSTRALIA PTY LTD, TEACHERS MUTUAL BANK LIMITED