Friday, March 20, 2020

Banks to defer loan repayments to small business, NAB extends six month offer to residential borrowers. I speak with NAB boss Ross McEwan

Australia's major banks have announced action to protect households and consumers from the economic fallout from the coronavirus. 

Small businesses will be given a six month deferral on their loan repayments to help get them through the tough months ahead.

The National Australia Bank is going a step further, offering the same relief to residential mortgage customers. 

Chief executive Ross McEwan tells ABC's Peter Ryan Australia is facing a risk that eclipses the global financial crisis a decade ago.

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