Guy Debelle: Assessing the effects of housing lending policy measures

Remarks by Mr Guy Debelle, Deputy Governor of the Reserve Bank of Australia, at the FINSIA Signature Event "The Regulators", Melbourne, 15 November 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
21 November 2018

Today I will summarise the Bank's assessment of the various measures put in place to address the risks around housing lending. I will draw on Chapter 5 of the recent Financial Stability Review (FSR). I think it is important in terms of accountability that we provide our assessment of the effect the measures are having and continually review whether they are achieving the desired intent.

The motivation for implementing these various measures was to address the mounting risk to household balance sheets arising from the rapid growth of certain forms of lending, in particular lending to investors and interest-only (IO) lending.