Michele Bullock, Assistant Governor (Financial System) speaking
- financial health of businesses looks sound, no threat to banks
- says retailers and investors face number of risks given intense competition
- currently no strong evidence of widespread financial vulnerability in retail sector
- says unlisted retailers tend to have more debt, making them more vulnerable
- difficulties in retail sector unlikely to pose risk to the banking sector
- says profitability in mining sector highest in the past 10 years
- says mining firms' balance sheets appear well placed to absorb shocks
- says small businesses face tighter credit conditions
- banks dealing with mortgage arrears in some regions, not a threat to stability
Headlines above via Reuters from the speech. Bullock not sounding alarm bells really, plenty of positive notes amongst the negatives.
Stay tuned for the Q&A to follow
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