Macroprudential 2.0 is still in the swing as the nation’s largest zero-interest bank struggles get under the 30% cap, via AFR:
Westpac Banking Group will today introduce a new range of policies intended to tighten lending by increasing scrutiny of borrowers’ income, the second policy change in a week after revealing its exposure to higher-risk interest-only property buyers.
Last week the group told mortgage brokers, who are a key distributor of loans, that it was toughening scrutiny of new borrowers’ ability to service loans in response to regulator’s “refining” of lending criteria.
