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Household debt in Australia is well secured against property and holders, therefore, can afford to service the debt, Reserve Bank of Australia’s (RBA) Assistant Governor Michele Bullock  said on Wednesday.

Key quotes

Arrears rates remain low, bank balance sheets more resilient.  

Credit conditions tighter than a few years ago as banks improve lending practices.

Risks from a glut of new apartments are elevated but contained.

banks need to continue to lend, that will inevitably involve some credit losses.