AFG begs for macroprudential mercy

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From the AFR:

The chief executive of the country’s largest mortgage broker, the newly listed Australian Finance Group, has urged the banking regulator to “hold fire” on more moves to cool investor lending market, saying current measures are already “starting to bite”.

AFG managing director Brett McKeon, who owns just under 10 per cent of the company which listed in May, said investor loans had fallen as a percentage of AFG’s book.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.