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[SYDNEY] The Australian Prudential Regulatory Authority (APRA) will increase the amount of bank capital for residential mortgage loans, it said on Monday, a move aimed to strengthen the finances of the nation's largest lenders.
The average risk weight on home loan exposures will rise to at least 25 per cent, from 16 per cent currently. The measure will take effect on July 1, 2016, and apply to the nation's top banks. They include Australia and New Zealand Banking Group, Commonwealth Bank of Australia, Macquarie Bank, National Australia Bank and Westpac Banking Corporation.