APRA specufestor lending bogged by deleveraging

APRA is out with October bank data and if the major banks are lending to specufestors then they are returning the dough even faster:

	ANZ	CBA	MQG	NAB	WBC	BOQ	BEN	SUN
Oct-19	86401	155833	18164	111974	182267	11960	13735	12336
Sep-19	86652	155691	17269	112687	184042	11985	13683	12354
Aug-19	87140	155562	17300	113519	184886	12053	13640	12364
Jul-19	87729	155406	16698	114311	185615	12054	13587	12355
Jun-19	76774	133761	12643	104660	153525	11340	12811	11756
May-19	77473	133400	12532	104681	153096	11320	12932	11694
Apr-19	78018	133093	12465	105036	152588	11332	12851	11697
Mar-19	78470	132904	12372	105379	152393	11333	12772	11724
Feb-19	78936	132916	12320	105645	152368	11352	12649	11755
Jan-19	79366	132960	12223	105757	152323	11364	12597	11745
Dec-18	79790	133045	12103	105869	152453	11366	12554	11784
Nov-18	80187	132812	11938	106081	152318	11534	12538	11738
Oct-18	80470	132705	11791	105982	152432	11318	12467	11700

The only reason there’s year on year growth is the APRA adjustments to definitions that brought a bunch of new loans into the category in July:

Othewise, since then month on month keeps sinking:

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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.