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Australian Prudential Regulatory Authority (APRA) chairman, Wayne Byres, has delivered a keynote address this morning to the AFR Banking & Wealth Summit in Sydney, whereby he warned the banks that they would be required to hold more capital against their mortgage books.
Below are key extracts from this speech [my emphasis]:
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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.