Banks well-positioned to withstand COVID-19 hit as loan defaults expected to rise - Reserve Bank report

Banks are in a solid position to weather the impacts of COVID-19, a Reserve Bank report shows.

In a Financial Stability report released on Wednesday, the Reserve Bank said that ‘stress tests’ were used to illustrate the banks’ resilience to withstand a broad range of adverse scenarios. If the economic downturn is prolonged, they would be able to keep lending.

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