The Australian Prudential Regulation Authority (APRA) today released its discussion paper and accompanying draft prudential standard on the implementation of the Basel II advanced measurement approaches to operational risk.

The discussion paper follows APRA’s release of draft Basel II standards in April and July 2005 which form part of a suite of prudential standards that are expected to be finalised in 2007.

The new Basel II capital adequacy regime will come into force on 1 January 2008. Written submissions on the discussion paper and draft prudential standard should be forwarded by 28 February 2006 to basel2@apra.gov.au

The discussion paper and draft prudential standard are available on APRA’s web site Discussion paper:

http://www.apra.gov.au/RePEc/RePEcDocs/Archive/discussion_papers/dp0025.pdf

Draft prudential standard: http://www.apra.gov.au/Policy/Draft-Prudential-Standards-and-Guidance-Notes-for-Authorised-Deposit-Taking-Institutions.cfm
 

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies, and most members of the superannuation industry.
APRA is funded largely by the industries that it supervises. It was established on 1 July 1998. APRA currently supervises institutions holding approximately $2.0 trillion in assets for 20 million Australian depositors, policyholders and superannuation fund members.