Australia’s toxic assets take shape

Advertisement

Via the AFR:

Figures provided by the Australian Prudential Regulation Authority show that, to date, consumers and business owners had sought between $150 billion and $160 billion in loan deferrals.

This amounts to 6 per cent of all mortgages and 13 per cent of SME loans, prompting government concerns that the banks, too, are being stretched.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.