Impaired assets stayed stable over the June 2010 quarter. The percentage of impaired assets to total assets was 1.23 per cent, one basis point lower than in the March 2010 quarter.It is now four years since the low point in the impairments cycle, a time when financial markets were flush and spreads low.The ratio of impaired assets is seven times the level of the low point, but still much lower than in other adverse cycles, such as the 1990 recession.The flow of new assets is easing rather than falling. New flow was $5 billion in the June 2010 quarter, down from $6.5 billion in the last quarter; $7 billion in the two before that; and $11.4 billion at the peak in the bad flow, in the June 2009 quarter.Write-offs for the quarter increased a touch to $2.5 billion, down from a peak of $4 billion in the September 2009 quarter.The RBA reported the APRA data on impairments yesterday.