The bank’s latest financial figures also show the lender is on track to meet APRA’s interest only and investor speed limits
The regulator has said it has issued compulsory information notices to the banks who must now justify their interest rate decisions
The lender has announced these new policy changes as a result of tighter requirements enforced by APRA
As well as urging for a higher cash rate, the former treasurer has also proposed allowing foreign ownership of the big four banks
ASIC has reprimanded businesses for failing to accurately prepare financial reports, resulting in a number of inquiries by the regulator.
Clarification by the ATO relating to SMSF trustees has been welcomed by those in the industry.
Brokers are calling for further competition in the LMI space as premiums continue to rise, while LMI providers have defended the price hikes.
Westpac chairman Lindsay Maxstead has cautioned against the 'extraordinary wave of regulation' impacting the finance sector in the face of a fresh round of banking regulations.
ANZ has kept its home loan variable interest rate unchanged, while announcing it will no longer include business loans in its monthly interest rate review.
Non-bank lenders have more than doubled the growth rate of banks, but industry bodies say competition between the big four is not strong enough.