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About APRA

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the Australian financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurance, friendly societies, and most of the superannuation industry.
 
APRA is funded largely by the industries that it supervises.
 
It was established on 1 July 1998. As at 30 June 2017, APRA supervises institutions holding $6.1 trillion in assets for Australian depositors, policyholders and superannuation fund members.
 
APRA's Vision, Mission and Values statement
 
Our vision: to be a world-class prudential regulator, with excellence of supervision as our foundation.
 
Our mission: to establish and enforce prudential standards and practices designed to ensure that, under all reasonable circumstances, financial promises made by institutions we supervise are met within a stable, efficient and competitive financial system.
 
We also act as the national statistical agency for the Australian financial sector and play a role in preserving the integrity of Australia’s retirement incomes policy.
 
Our values: we play a critical role in protecting the financial well-being of the Australian community: as a result, high standards are required in everything we do. In our work and in our interactions with others, we value and seek to demonstrate:
 
Integrity – we act without bias, are balanced in the use of our powers, and deliver on our commitments.
 
Respect – we are always respectful of others, and their opinions and ideas.
 
Collaboration – we actively seek out and encourage diverse points of view, to produce well-founded decisions.
 
Excellence – we maintain high standards of quality and professionalism in all that we do.

Accountability – we are open to challenge and scrutiny, and take responsibility for our actions.
 
 
Working and acting in these ways helps us achieve the high standards necessary for us to protect the financial well-being of the Australian community.
 
 
Our supervisory approach is forward-looking, primarily risk-based, consultative, consistent and in line with international best practice.
 
 
This approach also recognises that management and boards of supervised institutions are primarily responsible for financial soundness.