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BFCSA: APRA labels Mortgage Fraud as "relaxed lending standards." APRA a little "concerned"

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APRA warns banks on lending

50 min ago  SMH

By a staff reporter

Banks have been warned not to let the combination of record low interest rates and increased competition in the property sector lead it to relax its lending standards.

In a paper released by the banking regulator, the Australian Prudential Regulation Authority urged banks to take extra caution when offering home loans to ensure customers will be able to meet repayments when interest rates increase.

"Slow credit growth increases the pressure on authorised deposit-taking institutions to compete for business on price and – of concern to APRA – by relaxing lending standards," the paper read.

"A sustained low interest-rate environment poses further risks to lending standards.

"It is important for authorised deposit-taking institutions to ensure that new borrowers are able to service debt and afford higher repayments when interest rates rise from current record low levels."

APRA also pointed to recent examples in the United States where the transition out of sustained periods of low interest rates had been problematic.

"Recent international experience indicates that a prolonged period of low interest rates can lead to rising household leverage and housing market pressures, with potential flow-on impacts on the credit quality of housing loan portfolios," the paper said.


 Editor:  What is going on here????  Recent examples in the US?  What about all the victims here Dr Laker????            Where do we find these wallies?  Did you notice Evil Banksters and Lazy Regulators all look the same?

APRA has been asleep at the wheel for the past two decades.  Its the sister to ASIC..................suffering from the same illness; chronic corporate blindness.

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  • doyla66
    doyla66 Sunday, 15 September 2013

    "Relaxed Lending Standards" APRA you are really funny, these sort of comments dont worry the Banks they just treat them with indifference. Nab couldn't be more relaxed in there lending practices if you got them all drunk. Nab just pretend to be playing by the rules when in fact they just make up there own rules and play by these. Anything for a quid. Nab doesn't need an excuse like low interest rates to relax standards they don't have any standards.

  • doyla66
    doyla66 Monday, 16 September 2013

    Same with other banks too, NAB, the lot, Dr Laker. All Australian banks. Banking code applies here in theory. Thousands of examples of it not being applied in practice. Your turf, Dr Laker and APRA. Please explain.
    Relaxed Lending Standards - spare us the euphemisms. People have died and are still recovering from serious ill health and mental illness thanks to "relaxed lending standards" of which they were unaware.
    No Bank is going to take APRA seriously. What a fluffy non-statement PR wafflefest!
    You put your head in the sand, APRA, and a yabbie will bite you one day!

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