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Financial regulators are keeping an eye on Australia's booming housing market, but at this stage they are comfortable that lending standards have not been relaxed. New lending figures for April are released on Friday, which potentially will see a further rise in new housing loans after increasing 5.5 per cent to a record high in March, to be a huge 55.3 per cent higher than a year earlier. The strength in lending has gone hand-in-hand with rising house prices, which nationally stand over 10 per cent higher than a year earlier. Lending has largely been secured by owner-occupiers, and particula...

The corporate regulator has hosed down Treasury’s contention that responsible lending laws have squeezed the flow of credit for consumers.

‘Savage blow’: Coal companies hit back over banks’ flight from fossil fuels We’re sorry, this service is currently unavailable. Please try again later. Dismiss By Anne Hyland May 15, 2021 Large Australian banks, superannuation funds and insurance companies are adopting a view that coal, the dirtiest fossil fuel, should eventually be retired as an energy source. Save Normal text size Very large text size The politics around coal is treacherous. In the Upper Hunter of New South Wales, a state by-election that could further weaken the ability of Premier Gladys Berejiklian to ...

Denied insurance, rebuffed loan applications and struggling to refinance: Australia’s coal export industry, the world’s largest, says it is being squeezed out by banks and insurers, and some want the government to wade in.  Australia exported A$43bn-worth of thermal coal, its second-largest export by value, in 2020. But miners say that Australian banks’ retreat from fossil fuels as they seek to curb their contribution to greenhouse gas emissions is also stifling Asian financiers’ willingness to plug the resulting funding gap.   The complaints come in submissions to a parliamentary ...

How APRA could slow the hot property market Share Non-bank lenders and income-to-debt ratios are likely targets for regulatory intervention, as economists tip a tightening of macroprudential standards following the return of investors into the hot property market. Rhizome co-founder Will Peterson, referring to APRA: “My expectation is there is going to be some kind of macroprudential tightening, it’s just a question of what measures they use.”   Jessica Hromas In its quarterly statement on monetary policy, the RBA acknowledged the record low overnight cash rate of 0.1 per cent was flow...