APRA released its February lending data today and there may some good news about APRA’s wet lettuce macroprudential. There are still a bunch of banks lending well above the 10% year-on-year growth threshold for investment loans:
ANZ | BOQ | BEN | CBA | HSBC | ING | MAC | NAB | SUN | WBC |
10.2 | 3.1 | 7.3 | 9.2 | 6.5 | 2.0 | 71.0 | 13.3 | 14.1 | 10.2 |
Here’s the chart:
Obviously NAB and SUN are flouting the rule and MQG is positively urinating on the regulator but a closer look shows recent sharp deceleration in raw terms:
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Too early to say if it’s fair dinkum and could be seasonal but it is encouraging in the second derivative. SUN needs a sharp reminder and MQG a regulatory wrap in the balls with a bike chain.