Australian banksAustralian interest rates

RBNZ tears APRA a new one

David Llewellyn-Smith
Wednesday, 6 November 2019
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Via Ian Rogers at Banking Day:

The Reserve Bank of New Zealand is the agenda-setter in Australian banking, the central bank preparing for a great industry crisis in Australia and fearful it will unfold soon.

Australia is chronically overdue for a banking crisis (although APRA never says) and the industry is woefully under-provisioned and under-capitalised (the latter at least on APRA’s lips).

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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.