November 26, 2018 / 3:13 AM / 15 days ago

Australian regulators watching non-banks for financial stability risks - RBA

SYDNEY, Nov 26 (Reuters) - Australian regulators are “monitoring” fast-growing non-bank lenders for possible financial stability risks, a senior central banker said on Monday.

Non-banks have expanded their market share in Australia recently particularly for interest-only loans, a product category considered high-risk by policymakers.

“The Reserve Bank’s liaison indicates that non-banks have been lending to some borrowers who may otherwise have obtained credit from banks in the absence of the regulatory measures,” said Christopher Kent, assistant governor of the Reserve Bank of Australia (RBA) said in a speech in Sydney. (Reporting by Swati Pandey; Editing by Kim Coghill)

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