April 25, 2018 / 11:33 PM / a year ago

Australian banking regulator plans to remove 10 pct investor growth cap

SYDNEY, April 26 (Reuters) - Australia’s banking regulator said on Thursday it planned to remove a cap on banks’ investor loan growth as such lending had moderated.

The 10 percent annual limit would no longer apply to banks that can show that growth has remained below that level for at least 6 months and that have strong lending policies, the Australian Prudential Regulation Authority (APRA) said in a statement.

Banks that do not meet those conditions would still need to comply with the benchmark, introduced in 2014 as part of efforts to control a potential property price bubble. (Reporting by Paulina Duran; editing by Richard Pullin and Stephen Coates)

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