Latest Products

Prudential regulator downplays impact of royal commission

Friday 1 June 2018
News Summary

Financial Review
The Australian Financial Review reports that the Australian Prudential Regulation Authority (APRA) has downplayed that the Royal Commission will have an impact on credit growth.

"However, while institutions have a great deal of work to do to restore trust, I want to emphasise that Australians can be reassured that the industry is financially sound, and that the financial system is stable," APRA chairman Wayne Byres said.

According to AFR, the statements directly counter the Reserve Bank of Australia (RBA) and the Moody’s who suggested that the Royal Commission could lead to tightening of the regulatory system, and this can result in the slowing of the availability credit affect economic growth.