The small business ombudsman has backed the banks' concerns about a tightening of credit describing the bottleneck as serious with significant implications for the economy.
The corporate regulator rejected any notion of a credit squeeze on Wednesday calling the notion a "myth" as senior bankers including ANZ CEO Shayne Elliott and NAB chairman-elect Phillip Chronican said they would like to be lending more.
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James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at james.frost@afr.com
