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Australian regulators closely watching housing lending standards

Australian regulators are closely watching lending standards in the housing market as prices race higher amid record-low interest rates, and would consider action if standards were to slip, they said on Wednesday.

The Council of Financial Regulators said lending standards were generally being maintained at this stage, though it was closely monitoring developments.

The Council comprises the Australian Prudential Regulation Authority (APRA), the Australian Securities and Investments Commission (ASIC), the Australian Treasury and the Reserve Bank of Australia (RBA).

(Reporting by Wayne Cole; Editing by Leslie Adler)

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