Six lenders at high risk: APRA

Six Australian financial institutions are on high credit risk alert with banking regulator APRA. Thirteen institutions are on a high alert list at APRA for having inadequate internal risk-management processes. APRA says it and the Reserve Bank are concerned about banks and lenders looking for balance sheet growth by taking on riskier loans. The regulator said that it did not have a role in overseeing self-managed superannuation or in monitoring mezzanine investment schemes such as Westpoint.