The Commonwealth government will introduce a "responsible lending test" to the consumer credit code next year according to sources. Under the new rules, lenders.....
While the federal government's budget surplus means that it does not have to issue bonds to raise capital, Treasurer Wayne Swan announced yesterday that an additional $25 billion in government securities would be issued in order to improve the operation of Australia's financial markets. Commonwealth bonds are the safest form of security, providing risk-free assets for superannuation funds, and help investors to price for risk appropriately. The agency responsible for managing debt, the Australian Office of Financial Management, will also now be allowed to accept similar securities to those that can be taken by the Reserve Bank in its market operations.
