Departing APRA chair Wayne Byres has made parting shot at the superannuation sector, saying one of the things he is most proud of is the increased transparency the regulator has driven in an industry where "self-interest can sometimes outweigh member interest.
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As his term nears its end, the outgoing APRA chairman is confident the financial system remains sound and in good shape for his yet-to-be-named successor.
The release of the Australian banking regulator’s annual points of presence data this week will be an integrity test for both its chairman Wayne Byres and Federal Treasurer Jim Chalmers.
The prudential regulator has flagged that investors relying on property sales to service consecutive interest-only loans is “not good banking practice”.