Oz Blog News Commentary

ASIC prepares for HEM 2.0

February 14, 2019 - 13:30 -- Admin

Via AFR: The Australian Securities and Investments Commission (ASIC) has released updated guidance on how banks should verify customers living expenses before lending, to meet its expectations regarding the responsible lending laws. Lenders using the Household Expenditure Measurement (HEM) as a benchmark will need to apply a “reasonable buffer” reflecting the benchmark is too low.

The post ASIC prepares for HEM 2.0 appeared first on MacroBusiness.

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