Banks urged to 'flex' as Victoria battens down the hatches (AFR)

Data on loan deferrals released by the prudential regulator and by Firstmac provided new insight into the $274 billion worth of frozen loans as of the end of June, which was 3 per cent higher than a month earlier. 

Before the tougher Victorian lockdown was introduced, Firstmac had seen a steady improvement in the number of customers with deferred loans. The number with fully or partially suspended repayments had fallen to 5.1 per cent at the end of July from 5.65 per cent on May. 

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25 Aug 2020

Firstmac analysis shows the number of borrowers on hardship is falling (MPA Magazine)

The latest data from Firstmac’s $12.6b loan book shows that the number of Australians on COVID-19 hardship arrangements is steadily falling despite the second wave of lockdown in Victoria. MPA spoke with chief financial officer James Austin about how Victoria compares with other states and why the ACT is doing the best nationwide.

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