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The financial regulator says it's 'working assertively' with banks to make sure they don't slash their home lending standards to chase more business. The Australian Prudential Regulation Authority's chairman, John Laker, told an economics lecture that banks need to remember the lessons of the US housing meltdown. He says bank directors have assured him that lending standards are being maintained, and APRA audits have... Source: abc.net.au
While the debate on asylum seekers continues in parliament, out on the waters, south of Indonesia, authorities have been busy co-ordinating rescues. Customs and border protection have confirmed this morning TWO rescue operations were undertaken off the coast of Java.