Banks come on board the low risk lending train
The Australian Prudential and Regulatory Authority chair, Wayne Byres, told a Senate committee that Australia’s largest lenders have acknowledged the need to ensure lending to property investors is low risk and stable.
Byers said lenders have stopped some lending practices which were “less than prudent.”
The Australian Prudential Regulation Authority told lenders in late 2014 to limit growth in investor loan sales to no more than ten per cent per year.
Source: Banking Day