Already a subscriber?Outgoing National Australia Bank chief executive Ross McEwan has warned regulation of the country’s largest lenders could be unintentionally making it more difficult and expensive for borrowers, pushing them to riskier loans.
Ms Bligh said the financial services royal commission and a more recent crisis in regional banking in the United States had meant it was “inevitable” for major Australian lenders to become more risk averse.“You can’t have these events and there not be a contraction on risk,” she said. “There is a desire from regulators to make sure everything is safe.
ANZ chief executive Shayne Elliott has previously warned banks were becoming less risk averse and locking younger cohorts out of the housing market.On Tuesday, ANZ New Zealand boss Antonia Watson said she was seeing the same trend with borrowers fleeing to the non-bank system.
Source: Loan Digest (loandigest.net)
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