Month: August 2017

Market reacts to CBA independent Inquiry by APRA.

PROPERTY Market reacts to CBA independent Inquiry by APRA. Bishwas Bhattarai, Senior Lending Manager M. Comm. (Banking & Finance) UNSW, Dip. Fin. Plan. 29 August 2017 Australian Prudential and Regulatory Authority (APRA) have decided to set up an inquiry in nation’s largest Bank Commonwealth Bank of Australia (CBA). It comes amid the latest money laundering and bad practise that recently been highlighted. It is alleged that local and overseas criminal syndicate and drug trafficker may have used its smart deposit ATM to launder millions of dollars out of this country. Australian Transaction Reports and Analysis Centre (AUSTRAC) also has filed a...

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Interest rate reduction on Interest Only Loans – Likely

PROPERTY Interest rate reduction on Interest Only Loans – Likely Bishwas Bhattarai, Senior Lending Manager M. Comm. (Banking & Finance) UNSW, Dip. Fin. Plan. 28 August 2017 Following the mandate from APRA back in March interest only lending has been under scrutiny over few months. During, the last few months we have seen most of the lending institution have jumped in the band wagon and increased interest only rate especially with investment loans. In a bid to encourage the principle repayment. The mandate to have the Interest only new lending growth not to exceed 30% of portfolio was introduced...

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