Market Chatter: Macquarie Group Moves to Align Policies With Proposed Negative Gearing Ban, AFR Says

MT Newswires Live05-18 14:15

Macquarie Group (ASX:MQG) instructed its mortgage broker network to revise lending policies in line with the federal government's proposed ban on negative gearing for existing properties, despite the measure not yet being enacted into law, according to a Monday report by the Australian Financial Review, citing a company spokesman.

The company told its brokers it was developing a new borrowing calculator that incorporates the proposed changes, with the tool expected to be rolled out soon, the report added.

The company's shares fell 3% on market close.

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