SYDNEY, Dec 19 (Reuters) - Australia's banking regulator said on Wednesday it was removing a cap on interest-only loans for residential property on the grounds that the measure had reached its objective of curbing higher-risk lending practices.
The Australian Prudential Regulation Authority (APRA) said IT would remove the cap on Jan. 1 after it "led to a marked reduction in the proportion of new interest-only lending, which is now significantly below the 30 percent threshold".
APRA introduced the limit in March 2017 amid concerns about a housing bubble. Residential property prices in Australian major cities have since fallen the most in three decades.
News: NAB Australian bank regulator to remove cap on interest-only mortgages
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$42.81 |
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Mkt cap ! $131.1B | |||
| Open | High | Low | Value | Volume |
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| NAB (ASX) Chart |