APRA licenses new authorised deposit-taking institution
The Australian Prudential Regulation Authority (APRA) has licensed Lutheran Laypeople's League of Australia as an authorised deposit-taking institution (ADI) under the Banking Act 1959.
An updated list of all APRA-authorised ADIs can be found on the APRA website.
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, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $6 trillion in assets for Australian depositors, policyholders and superannuation fund members.