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Australian banks defer payments on $130 billion of loans
Australia’s banks have deferred payments on at least A$200 billion ($130.12 billion) in loans as an economic shutdown to fight the novel coronavirus throws hundreds of thousands out of work and cripples household incomes. The Australian Banking Association on Friday said 100,000 loans had been deferred just in the last week, half of them mortgages, bringing total deferrals to 643,000. “The surge in demand for assistance from banks shows that the economic impacts continue to be felt, and by no means is the nation through this crisis,” ABA CEO Anna Bligh said. Data out earlier in the week showed almost a million ... (full story)
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