Australian Prudential Regulation Authority chairman John Lonsdale has hit back at the Australian Banking Association’s call for a cut to the 3 per cent interest rate buffer to support first home buyers, saying lenders already have plenty of flexibility under existing rules, while global market volatility and higher unemployment in Australia justify its current level.
Major banks have split on prudential policy settings. Stephen Clark
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James Eyers writes on banking, finance, payments, regulation and emerging technologies. Based in Sydney, he is a former legal and investment banking editor at the AFR and has been a business journalist for more than 20 years. Email James at jeyers@afr.com.au
