The Australian Prudential Regulation Authority (APRA) has released the statement its head Wayne Bryes made to the Senate Standing Committee on Economics on Wednesday:

  • Not yet decided on what further action it might need to take to deal with risks in the housing market
  • He made two points in response to reports that it is considering hard limits on certain types of loans, or minimum deposit requirements for borrowers – that APRA “generally seeks to avoid outright prohibitions on activities where possible” and that “responding to potential risks in the housing market is “standard supervision” and APRA is about to “finalize guidance on w

Via MNI

APRA oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies and most members of the superannuation industry.