An interesting read on APRA…and a decision by former Treasurer Frydenberg.
https://www.abc.net.au/news/2022-12-12/apra-mortgage-serviceability-interest-rate-floor/101745144
Did bank regulator APRA slip up on its interest rate floor? And could it cost Australians their homes?
The Reserve Bank of Australia is copping a lot of heat for the mortgage stress that many Australians now find themselves under, but a little-publicised decision by the obscure bank regulator may have done far more damage, writes Michael Janda.