Business failures will impact bank balance sheets – RBA’s Bullock

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Australian bank balance sheets could be impacted if the number of business failures rises in tandem with the removal of Covid-related support measures, according to an official from country’s central bank.

Michelle Bullock, the Reserve Bank of Australia’s assistant governor for financial stability, said the number of firms that had failed this year was lower than usual because of support supplied by the financial sector and government.

This included income support, loan repayment deferrals and

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