Major banks still above APRA's investor mortgage cap

APRA’s July banking statistics are out and in July, all six major banks remained above the APRA line in the sand for 10% investors loan growth:

Only CBA is playing by the rules at this point, although ANZ is decelerating and WBC was below before last month. It’s jump up may be driven by a reallocation of existing loans to the “investor” category. That is certainly the case with NAB which has re-categorised an huge slab of owner-occupier to investor loans, distorting its figures.

Macquarie Bank continues to require a chart all its own and appears to operate without any regulatory restraint whatsoever:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.

Major banks still above APRA’s investor mortgage cap