Powered by MOMENTUM MEDIA
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.

Advertisement
Advertisement

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.

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

The central bank may put its march into negative rate territory on hold in light of the latest labour market data, but quantitative easing r...

Recent data shows Australian fintechs have grown their revenue by 80 per cent since 2018, and business owners are optimistic about the futur...

The ABA and a publishing company joined hands to launch a campaign to stop elder financial abuse. ...

FROM THE WEB
podcast

LATEST PODCAST: Transparency around rate cuts

Do you think the mortgage market will see more consolidation this year?

Website Notifications

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