Rubbish. The Banks have never been under more regulation and will still need to operate within the Basel capital rules and existing governance.
The issue is the evolving, draconian consumer lending and small business rules that are stifling ability to quickly process that type of lending.
Banks have a detailed understanding of product default percentages and all products need to be assessed, priced and monitored accordingly.
Reducing the ridiculous micro analysis and one size fits all rules is sensible. The banks need to return to assessing loans on character, capacity and collateral, a skill rapidly being lost in favour of checklists and point scores and a fear of the rules!!
Putting some responsibility on the borrower is also long overdue.....................
WBC Price at posting:
$17.53 Sentiment: None Disclosure: Not Held
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