SYDNEY, Feb. 20 -- Australian Prudential Regulation Authority issued the following media release:
The Australian Prudential Regulation Authority (APRA) has begun consulting on proposed changes to how banks treatHigher Education Loan Program (HELP) debt repayments when assessing home loan applications.
As the prudential regulator of the Australian financial system, APRA is responsible for ensuring banks are managing their risks appropriately to protect the safety of deposits and the stability of the financial system.
APRA has no specific rules or guidance in relation to HELP repayments beyond asking banks to include HELP debts when reporting data on debt-to-income ratios. However current industry practice is for banks to consider HELP deb...