Only 3.5% of deferred loans still in deferral: ABA
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New figures have revealed that almost 97 per cent of all deferred loans resumed repayments by the end of February.
The data from the Australian Banking Association (ABA) has shown that the total value of loans deferred has dropped from a peak of $245 billion in July 2020 to just over $10 billion in February 2021.
The ABA’s analysis of the Australian Prudential Regulation Authority’s (APRA) data on the latest loan deferral figures from the major banks has shown that as of 28 February, total outstanding deferrals make up 3.5 per cent of all loans that were deferred.
APRA releases quarterly authorised deposit-taking institution statistics for December 2020 miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
Interest rates were last year slashed to an all-time low of 0.1 per cent. The Reserve Bank of Australia, however, is worried with board members acknowledging the risks inherent in house prices.
The rising number of property buyers with debt-to-income levels of more than six times provides an insight into where the prudential regulator may focus next.
Ethics professor Justin OâBrien sorry for collapse in Trust
The former ethics and governance professor of The Trust Project is taking stock in Byron Bay after his professional life collapsed amid claims of unethical conduct, unpaid bills and corporate missteps.
Former Monash academic Justin OâBrienâs profile has collapsed after he was investigated over an expenses rort, chased down for unpaid debts and charged with criminal assault and malicious damage of property.Â
Mar 17, 2021 â 12.00am
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In January this year, Justin OâBrien sat down and sent Greg Medcraft a note to his personal email.
âDear Greg, as you are no doubt aware I have had a torrid time,â OâBrien wrote.