ANZ cite runaway credit growth in Australia:
- Australia's monthly credit growth is annualising at 10%
- and looks likely to accelerate further
And that this is:
- a concern for regulators
And thus:
- We continue to expect macroprudential tightening measures to be introduced.
ANZ's graph is eye-watering indeed:
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Macroprudential measures in Australia would likely be introduced through APRA, the prudential regulator ... this from the Reserve Bank of Australia:
Responsibility for the regulation and supervision of the Australian financial system is vested in four separate agencies:
- the Australian Prudential Regulation Authority (APRA);
- the Australian Securities and Investments Commission (ASIC);
- the Reserve Bank of Australia (RBA); and
- the Australian Treasury.
These four bodies comprise the Council of Financial Regulators (CFR).