The update and strengthening of the Reserve Bank's decision-making and accountability arrangements will bolster New Zealand's financial system and make.
Mortgage Business
APRA’s lending macro policy worked: RBA By Malavika Santhebennur 28 July 2021
The RBA has stated that APRA succeeded in curtailing a drop in home lending standards by implementing macro-prudential policies between 2014 and 2018.
The Reserve Bank of Australia (RBA) has released a research discussion paper in which it declared that macro-prudential policies implemented by the Australian Prudential Regulation Authority (APRA) targeting the housing market twice between 2014 and 2018 achieved their goals and contributed to reducing risk in the financial system.
The paper, titled
Macroprudential Limits on Mortgage Products: The Australian Experience, said the “broad aim of macro-prudential policy is to manage systemic risk in the financial sector”.
ASIC levy reflects ramped up enforcement: FBAA
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ASIC’s raised industry funding levies reflect higher enforcement against brokers and could add to other increasing costs, the head of the Finance Brokers Association of Australia has said.
ASIC released its draft Cost Recovery Implementation Statement for the 2020-21 year on Friday (23 July), with expectations of what each finance sector will be charged to fund its regulation.
The levies, which are based on ASIC’s regulatory costs and business metrics, will be finalised in December and invoiced in January next year.
The regulator is forecast to recover $44.5 million in total levies from the deposit-taking and credit sector – contributing to a grand total of $337.5 million to be recovered across financial industries.
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Home lending restrictions successfully cooled the property market, but helped the big banks win mortgage customers at the expense of smaller competitors between 2014 and 2018, according to new research by the Reserve Bank of Australia.
The research endorsing past limits on investor and interest-only loans will give regulators new evidence to consider after the RBA and Australian Prudential Regulation Authority signalled they could reimpose restrictions on riskier home lending if the property market keeps surging.
The previous home lending restrictions ended in 2018, after Sydney and Melbourne property prices fell and investors withdrew from the market.
Peter Rae
The previous restrictions reduced home lending to investors and interest-only mortgage customers and improved the safety of the financial system, three RBA economists found in the research paper,