The Australian Prudential Regulation Authority has strengthened macroprudential policies against the banks pointing to "an environment of heightened risks".
APRA chairman Wayne Byres said APRA "views a higher proportion of interest-only lending in the current environment to be indicative of a higher risk profile" for the sector.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
