10 April 2019
As at 30 June 2019, national agricultural debt was $86.9 billion, an increase of 17% or $12.7 billion since 30 June 2018. Importantly, despite the increase in total debt levels, the total value of loans and leases in arrears increased by only $87 million.
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“Australian banks are certainly better equipped now than they were in the GFC. They’ve got 2 to 2.5 times the capital reserves put aside for a rainy day than they had in the GFC”
“The Australian Banking Association (ABA) welcomes the agreement reached today on the proposed safeguard mechanism reforms, given it paves the way for the passing of a critical piece of legislation for Australia.
“This is about engaging with the entire banking ecosystem in order to ensure the accessibility of the sector’s services are best serving our diverse community now, and into the future.”