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Why isn’t ANZ doing more to help stressed borrowers?

Published

10 months ago

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ANZ is the only Big Four Australian bank to not make exceptions in stress testing when refinancing loans

 
It’s no surprise that the RBA’s recent interest rate hikes are placing huge strain on mortgage holders.

But there’s plenty of room for Aussie banks to help, or not help, stressed borrowers.

But not all banks are on the same page.

The National Australia Bank just became the third of the Big Four to make exceptions to stress-testing standards for borrowers attempting to refinance.

This now leaves just ANZ as the outlier among that group.

ANZ is set to diverge from its competitors regarding mortgage stress-testing rules, as it believes that relaxing lending criteria for refinancing borrowers would have little impact and be merely a marketing exercise.

The stress-testing standard, which requires lenders to assess borrowers’ repayment capacity at interest rates 3 percentage points above the market rate, remains unchanged at ANZ.

Sources suggest that ANZ views the current buffer as suitable given the economic climate and is satisfied with its mortgage book growth.

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Why the meme-stock frenzy is unlikely to repeat

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3 days ago

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May 14, 2024

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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3 days ago

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May 14, 2024

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

Published

4 days ago

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May 13, 2024

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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