This is especially so in Western Australia, where housing prices have been falling for some time. Liaison with banks suggests that more lenient https://www.rba.gov.au/speeches/2019/sp-dg-2019-11-15.html  2/6  18/11/2019  Mortgage Arrears | Speeches | RBA  forbearance and foreclosure policies have also contributed to the increase in longer-term arrears rates.
Financial stability analysis is becoming more and more sophisticated, as is borne witness by the increasing number of related working papers and conferences. As for the recent financial market turmoil – the trigger for the recent financial market turbulence, the speed at which it spread across global financial markets and its persistence were not foreseen, but that does not conflict with my statement.