Australia banking regulator warns household debt too high
|Headlines crossed the wires from the Australian Prudential Regulation Authority (APRA) chairman Wayne Byres, as he delivered a keynote address to the Australian Securitization Forum earlier today.
Key Quotes via Reuters:
"Household indebtedness is high. Perhaps more importantly, the trajectory is clearly for it to rise further."
“Lenders need to be vigilant to ensure their policies and practices are both prudent and responsible.”
“In short, heightened risk requires heightened prudence by APRA but also - and preferably - by lenders and borrowers themselves."
"High LTI (loan-to-income lending) in Australia is well north of what has been permitted in other jurisdictions grappling with high house prices and low-interest rates such as the UK and Ireland."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.