Australian banks will have to make huge investments to boost lending to struggling borrowers

The Australian banking system has suffered from a “sickness” of high levels of mortgage lending and a “huge glut” of credit available to borrowers, according to a new report.The “sinkhole” of underwriting for high-risk borrowers is a problem that is not being addressed, the report by the bank regulator the Australian Prudential Regulation Authority (APRA) […]