Page 4 - Wayne Byres News Today

As his term nears its end, the outgoing APRA chairman is confident the financial system remains sound and in good shape for his yet-to-be-named successor.

The release of the Australian banking regulator’s annual points of presence data this week will be an integrity test for both its chairman Wayne Byres and Federal Treasurer Jim Chalmers.

The prudential regulator has flagged that investors relying on property sales to service consecutive interest-only loans is “not good banking practice”.

A Senate committee is examining the new law as consumer groups seek stronger personal liability after this was dropped from the bill by the previous government.

There’s no discernible trend in loan defaults and arrears now, but it is coming, APRA has highlighted, recently. A ‘large cohort’ of fixed-rate borrowers whose loan terms mature next near wi

Appearing before the House of Representatives Economics Committee, APRAs Margaret Cole said the regulator is concerned about some of the super funds that passed the performance test yet fail the regulators own sustainability testing.

The ACCC, APRA and ASIC will front the House of Representatives Standing Committee on Economics tomorrow to discuss super fund underperformance, greenwashing and the rise of finfluencers.

Australian shares are expected to rise as markets look to bounce back from a volatile week in which Wall Street sold off.

Shares rise. Telstra confirms guidance. Lloyd-Hurwitz to leave Mirvac. Macquarie underperform on Zip. Nasdaq at 2-year low. Oil, gold fall. Follow latest here.

The blind rush to consolidate that gripped the $3.4 trillion superannuation sector in recent times may be finally over, according to First Super chief executive Bill Watson.