Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
BOQ reclassifies home loan data

BOQ reclassifies home loan data

Bank of Queensland (BOQ) has announced it has reclassified certain home loan data previously provided as part of its regulatory obligations.

Following the consolidation of the bank’s specialist ADI licence on 31 May 2015, BOQ said it conducted a review of its processes used to classify loans for regulatory reporting purposes in the BOQ Specialist business and identified a number of differences when compared to the bank’s own classification process.

“As such, a number of loans that were previously classified as ‘loans to non-financial corporations’ and ‘loans to households: other’ have been reclassified as ‘loans to households: housing – owner-occupied’ or ‘loans to households: housing – investment’ under BOQ’s regulatory reporting methodology,” the bank said in a statement to the ASX.

Advertisement
Advertisement

“These loans have been restated in BOQ’s June 2015 and July 2015 regulatory reporting. The reclassification will be carried forward in regulatory reporting from August 2015 onwards.”

BOQ reclassifies home loan data
mortgagebusiness

 

Latest News

Interim CEO of BOQ Anthony Rose has told ASIC that the revised responsible lending guidance must remove incentives for lenders to lower stan...

Approximately 32 per cent of young Australians expect to purchase a home in the next five years. However, their aspirations are not driving...

Impact of moderating house prices and the conversion of a large number of interest-only loans on delinquencies will be “limited” in the ...

FROM THE WEB
podcast

LATEST PODCAST: Results season rolls on

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?

Website Notifications

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