Regulation

The first steps for e-conveyancing reform and regulation will roll out from early 2022, according to a ministerial statement.

The Reserve Bank has declared its rate decision for November, as talk of a faster-than-expected rise has fired up.

A total of over $13.0 billion worth of loans are on deferrals as at 30 September, up from almost $12.0 billion in August, APRA data has shown.

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The regulator has revealed its final expectations for banks in relation to their preparedness for zero and negative interest rates.

Economists have speculated that interest rate hikes may be creeping closer than previously expected, as inflation has landed within the Reserve Bank’s target range.

The prudential regulator is giving banks additional time to implement several prudential standards for market risk, in response to “industry feedback”. 

The complaints authority has created seven new positions, including a senior ombudsman for credit, as part of a move to bring in more specialised expertise.

The state government has urged for a review of housing tax settings, stating the capital gains tax discount unfairly advantages investors and erodes affordability.

The latest index by the non-bank has suggested that home loans are at their most unaffordable for the first time in five years.