| From Ibtimes.com: Global ratings agency Fitch Ratings will conduct several stress tests on Australian banks so as to determine what is likely to happen if mortgage defaults rise as much as eight percent and property prices slump by 40 percent.
Fitch managing director for Australia Ben McCarthy said, “Over the last few months, Fitch has received numerous enquiries as to the sustainability of Australian residential property prices and the possible impacts of a correction................................................Full Article: Source
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