APRA to extend and pretend mortgages will be repaid

by Chris Becker
APRA have given another reprieve in the fight to stop Australian households defaulting on their mortgages with another payment holiday/restructure period extension, pushing out the fantasy of mortgage repayments for another four months:

The confirmation of the waiver follows the announcement that lenders will extend the repayment holidays of customers who have deferred home loans or business loans for up to another four months if they need it.

Australian Prudential Regulation Authority chairman Wayne Byres confirmed that deferred loans that are extended or restructured before March 31 would be regarded as “performing” for capital and regulatory reporting purposes in the announcement.

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