Regulators watching home lending standards

Australian regulators are closely watching lending standards in the housing market as prices race higher amid record-low interest rates.

The Council of Financial Regulators said on Wednesday lending standards were generally being maintained, at this stage.

But it’s closely monitoring developments and would consider action if standards were to slip.

The council comprises the Australian Prudential Regulation Authority, the Australian Securities and Investments Commission, the Australian Treasury and the Reserve Bank of Australia.

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