Australian banksAustralian Economy

Arrears climb begins

David Llewellyn-Smith
Monday 6 April 2020
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Via Banking Day:

Lenders have started to advise investors that they can expect to see an increase in arrears.

Commonwealth Bank issued notices to investors in a range of its Medallion Trust Series mortgage securitisations, saying that relief measures introduced by the bank “may affect home loans which are assets of the Medallion Trusts”.

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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.