Business
Frozen loans set to scorch the big banks – Small Caps
1 in every 9 Australians having now frozen their mortgages as a result of the COVID-19 pandemic.
We all know that feeling when you reach deep into the freezer and grab a mishappen lump of something from right down the back.
What will it be like when it thaws?
What is it?
Will it still be ok to use?
They are all good questions and Australias big banks are eventually going to find out the answer as an amazing $274 billion of frozen loans fester away right down the back of their vaults.
It is not a scenario that has any real parallels to recent experience with 1 in every 9 Australians hav…
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