Original article by Cliona O’Dowd
The Australian – Page: 13 & 20 : 10-Jul-20
Data from the Australian Prudential Regulation Authority shows that banks have deferred 18 per cent of small business loans in response to the coronavirus pandemic. Morgan Stanley has warned that that many businesses in Melbourne that have been forced to shut down for a second time may never re-open, particularly smaller ones. The APRA figures also show that more than 10 per cent of home loan repayments have been put on hold. Loans to investors account for 34 per cent of home loan repayments that have been deferred, prompting concern that there may be a surge in distressed selling.
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, MORGAN STANLEY AUSTRALIA LIMITED