RBA’s Debelle: Risks that mortgage arrears currently pose to bank profitability are low

Reserve Bank of Australia (RBA) Assistant Governor Debelle is on the wires now, via Reuters, making a scheduled speech, with the key comments found below.

• mortgage arrears rate at 1%, low by historical, international standards
•  mortgage arrears rates have been increasing in recent years, highest for around a decade
• says unlikely that national arrears rate will increase substantially from here
• says tighter lending standards placed downward pressure on arrears