{"id":7232,"date":"2020-07-08T22:26:33","date_gmt":"2020-07-08T22:26:33","guid":{"rendered":"http:\/\/www.16news.com.au\/?p=7232"},"modified":"2020-07-08T22:26:33","modified_gmt":"2020-07-08T22:26:33","slug":"further-bank-support-for-households-and-small-businesses","status":"publish","type":"post","link":"http:\/\/www.16news.com.au\/index.php\/2020\/07\/08\/further-bank-support-for-households-and-small-businesses\/","title":{"rendered":"Further Bank Support For Households And Small Businesses"},"content":{"rendered":"<div class=\"region region-content\">\n<div id=\"block-system-main\" class=\"block-system-main block block-system\">\n<div class=\"content\">\n<article id=\"node-101876\" class=\"node node-article clearfix\">\n<div class=\"content\">\n<div class=\"field field-name-body field-type-text-with-summary field-label-hidden page-styles\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\nThe Government welcomes today\u2019s announcement by the Australian Banking Association (ABA) on the continued support that will be provided by banks to customers on repayment deferrals.<br \/>\nThe ABA has today confirmed that banks will continue to support customers who need it with up to another four months of deferred repayments on already deferred loans. This initiative has been agreed with APRA who will provide the banks with extended regulatory relief so that they can continue to support their customers with greater flexibility during this time.<br \/>\nAPRA has also provided relief to encourage the banks to restructure loans where possible as a way of helping these customers. This restructuring could include extending the term of the loan or moving from principal and interest repayments to interest-only for a period of time.<br \/>\nThe ABA estimates that there are over 800,000 loans that have been deferred worth over $260 billion.<br \/>\nIt is important that customers that can afford to make repayments continue to do so. Borrowers that are facing considerable financial difficulty as a result of this pandemic, should talk to their banks and work with them to find a more sustainable approach.<br \/>\nThe Government acknowledges and thanks the Banks, APRA and ASIC for their collective efforts in support of Australians who financing financial hardship during this difficult time.<br \/>\nThe Morrison Government continues to support both businesses and individuals that have been impacted by the coronavirus crisis and the actions of the banks and APRA today will complement this support and help more Australians get to the other side.\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Government welcomes today\u2019s announcement by the Australian Banking Association (ABA) on the continued support that will be provided by banks to customers on repayment deferrals. The ABA has today confirmed that banks will continue to support customers who need it with up to another four months of deferred repayments on already deferred loans. This &hellip; <a href=\"http:\/\/www.16news.com.au\/index.php\/2020\/07\/08\/further-bank-support-for-households-and-small-businesses\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Further Bank Support For Households And Small Businesses&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-7232","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/7232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=7232"}],"version-history":[{"count":0,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/7232\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=7232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=7232"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=7232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}