Reserve urges stingy banks to open up the credit floodgates

Original article by Paul Garvey, David Rogers
The Australian – Page: 19 & 29 : 21-Mar-19

The Reserve Bank of Australia’s assistant governor Michele Bullock has urged the nation’s banks to be less risk-averse with regard to mortgage lending. She has used an Urban Development Institute of Australia speech to argue that banks should relax their lending standards in the wake of the Hayne royal commission and the Australian Prudential Regulation Authority’s move to ease restrictions on lending. Bullock added that a credit crunch in Australia is unlikely, but this could depend on the outlook for the housing market.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, URBAN DEVELOPMENT INSTITUTE OF AUSTRALIA, AUSTRALIAN BANKING ASSOCIATION

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