While APRA was making life easier for the big banks to help borrowers through COVID, the ANZ was making life easier for its shareholders.
While the prudential regulator makes life easier for banks in handling loan deferrals due to the lockdowns, one bank is making sure no good deed goes unpunished.
Yesterday the Australian Prudential Regulation Authority announced that banks and other lenders would get regulatory relief from having to allocate more capital to loans where customers had asked for a deferral or other arrangements during the worsening lockdowns in Sydney, Victoria and — last night — South Australia.
This will save the banks a lot of money by not requiring them to devote capital to increasing their bad and doubtful debt provisions, in a repeat of relief granted by APRA last year.
How much will ANZ shareholders reap? Read on.
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