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In a key development, APRA is placing the onus on bank boards to provide assurance on the quality and safety of lending standards.APRA said for the 10 per cent speed limit not to apply, boards will be expected to confirm that: APRA chairman Wayne Byres said the decision to remove the investor lending benchmark reflected an improvement in lending standards by the banks, but there was still more work to be done."The temporary benchmark on investor loan growth has served its purpose," he said.

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"Lending growth has moderated, standards have been lifted and oversight has improved.

Last modified 03-Jan-2020 06:19