APRA Insight - Issue 1 2019
A message from APRA Chair Wayne Byres
Welcome to the first edition of the new-look APRA Insight.
Over the past 18 months, the financial services industry has been subject to unprecedented scrutiny over its performance, conduct and treatment of customers. Read more.
To keep up with advances in data, analytics and technology APRA has embarked a program to improve how it stores, analyses and delivers its data.
On 1 July, the Banking Executive Accountability Regime (BEAR) commenced for all medium and small authorised deposit-taking institutions, including banks, credit unions and building societies.
On the horizon
In the coming months, APRA will respond to April’s consultation on an updated prudential standard requiring superannuation licensees to assess the outcomes they are delivering for members. We needed to revise SPS 515 Strategic Planning and Member Outcomes (SPS 515), which was released in December 2018, after the passage of the Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No.1) Act 2019, to ensure alignment between the legislation and our prudential requirements. We plan to release the final SPS 515 and supporting prudential guidance in the third quarter of 2019. Given the key elements of SPS 515 are likely to remain largely unchanged, the standard's effective date will be 1 January 2020.
APRA will also be releasing an initial discussion paper outlining the principles of the proposed new capital framework for private health insurance. We first outlined our planned approach to reviewing the capital framework in November last year. Since that time, we have been engaging with industry as we consider how to tailor the capital framework to recognise the operating environment for private health insurance business and reflect the risk profiles in the industry.
Some in the financial industry and media have misinterpreted the data from APRA's Quarterly Authorised Deposit-taking Institution Property Exposures statistical publication.
View an animated graph to see how Australia's superannuation industry has changed in 10 years.
Read a recent case study of APRA's supervision on intra-group funding arrangements in the banking sector.
|Insight Issue 2 2018||
|Insight issue 3 2018||
|Insight Issue 4 2018||
|Insight Issue 1 2017||
|Insight Issue 2 2017||
|Insight Issue 3 2017||
|Insight Issue 4 2017||
|Insight Issue 1 2016||
|Insight Issue 2 2016||
|Insight Issue 3 2016||
|Insight Issue 4 2016||