Powered by MOMENTUM MEDIA
subscribe to our newsletter

NAB reclassifies household data

As part of its regulatory reporting obligations, NAB has reclassified certain household data that it previously provided.

The data being restated covers portfolio and flow information between July 2014 and June 2015, and includes a restatement of owner-occupied housing from $165.4 billion to $126.5 billion, investor housing from $66.6 billion to $93.0 billion and non-housing from $11.5 billion to $23.7 billion.

NAB said the reclassification has no impact on customers and does not alter risk-weighted assets, regulatory capital, cash earnings, balance sheet or risk appetite.

Angus Gilfillan, executive general manager of consumer lending at NAB, said the bank was committed to taking the appropriate action to correct its data reporting.

“This has no impact on our customers and is a simple reclassification of data,” he said.

Advertisement
Advertisement

PROMOTED CONTENT


NAB said the reclassification reflects the bank’s commitment to fulfilling its regulatory obligations, and forms part of an ongoing review to improve the statistical process.

The bank said it will continue to review previously submitted regulatory information and make changes as necessary.

NAB reclassifies household data
mortgagebusiness

Latest News

Preliminary ABS data has revealed that the value of residential construction work done has declined in the September quarter to its lowest l...

Westpac and its subsidiaries have reduced its owner-occupied and investment property fixed home loan rates, effective 24 November. ...

Defence Bank has appointed two new board directors and announced the retirement of long-term director Lieutenant Colonel Craig Madden. ...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: Responsible Lending - what could lie ahead for lenders, brokers and borrowers?

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.