Impact of the regulatory regime on promoting the housing finance market in Australia

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Title Impact of the regulatory regime on promoting the housing finance market in Australia
Author Rajapakse, Pelma Jacinth; Rajapakse, Suri
Journal Name Law and Financial Markets Review
Editor Iain G. MacNeil, University of Glasgow
Year Published 2011
Place of publication United Kingdom
Publisher Hart Publishing
Abstract The purpose of this article is to analyse how Australia's regulatory framework for housing finance mitigates various risks in mortgage lending and promotes positive market outcomes and system stability. The article first considers the main bodies involved in the regulation of residential mortgages, their roles and the type of regulations enforced by each regulator in relation to housing finance in Australia. The key regulators identified in this article include the Reserve Bank of Australia, the Australian Prudential Regulation Authority, the Australian Securities and Investments Commission and the Australian Competition and Consumer Commission. This part focuses on the post-financial crisis regulatory changes in housing finance, including revisions to existing regulations and introduction of new regulations. The article then discusses the implications of regulation for mortgage markets and players, practices and conduct. This section reviews mortgage lending practices in Australia that can be viewed as either particularly prudent or particularly risky. Finally, the article analyses the impact of regulation on promoting positive market outcomes, including housing finance system stability in Australia.
Peer Reviewed Yes
Published Yes
Alternative URI http://dx.doi.org/10.5235/175214411796505615
Volume 5
Issue Number 4
Page from 290
Page to 305
ISSN 1752-1440
Date Accessioned 2011-07-28
Date Available 2011-09-30T04:22:59Z
Language en_AU
Faculty Griffith Business School
Subject Financial Institutions (incl Banking)
URI http://hdl.handle.net/10072/41086
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1

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