Banking Summit: We have not got the balance right in banking

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 90%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

Over-prescriptive and risk-averse rules on lending are not just a problem for bankers. They hobble the whole economy.

Five years after the final Hayne royal commission report, the banking industry gathered for the 10th edition of The Australian Financial Review Banking Summit to ask a question likely to carry well into the next decade.

When top bankers are saying that responsible lending laws make Australia one of the hardest places in the world to get a credit card, the danger becomes that “banking is for the affluent”, as one put it. Last year, the Australian Prudential Regulation Authority stress tested the heavily mortgage-dependent against a collapse in jobs and house prices and found the banks pulled through intact and able to finance a recovery. APRA chairman John Lonsdale told the Summit that in 2025 the authority will widen its stress testing to find any “blind spots” for banking regulation in the wider economy or overseas, where danger could spill into the finance sector and trigger a greater crisis.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Banking Summit: Business is a better home for bank lending than housesA shift out of low-margin home lending would release a mountain of capital for Australian firms of the future.
Source: FinancialReview - 🏆 2. / 90 Read more »