Australian regulator warns of (slowly) rising arrears on mortgage and business loans

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the Australian financial services industry.

• Will keep macroprudential policy settings on hold following latest
  quarterly assessment of domestic and international economic
  conditions
• Quality of new
  housing lending remains sound, arrears rates on mortgage and business
  lending portfolios continue to rise slowly
• Mortgage
  serviceability buffer will be kept at 3 percentage points and lending
  limits have not been applied
• Countercyclical capital buffer will remain at 1.0% of risk weighted assets

Comments from APRA follow their latest quarterly assessment of domestic and international economic conditions.

This article was written by Eamonn Sheridan at www.forexlive.com.