SYDNEY, April 5 The head of Australia's banking
watchdog said on Wednesday authorities can take further action
if needed to restrain runaway home prices, following measures
announced last week.
The chairman of Australian Prudential Regulatory Authority
(APRA) Wayne Byres was talking at an industry conference in
Last week, APRA asked banks to limit new interest-only
lending to 30 percent of total new residential mortgage lending,
from 40 percent now. It also demanded that banks limit investor
credit to "comfortably remain below" a previously set cap of 10
percent annual growth.
(Reporting by Jamie Freed; Editing by Richard Pullin)