The Australian Prudential Regulation Authority (APRA) has released an updated prudential standard setting out operational risk requirements for authorised deposit-taking institutions (ADIs).
In a letter to ADIs today, APRA outlined its response to submissions on proposed changes to Prudential Standard APS 115 Capital Adequacy: Standardised Measurement Approach to Operational Risk (APS 115), which comes into effect from 1 January 2021.
In addition to a final APS 115, APRA released a draft Reporting Standard ARS 115.0 Capital Adequacy: Standardised Measurement Approach to Operational Risk for consultation.
The letter to ADIs, final APS 115 and draft ARS 115.0 are available on the APRA website at: Consultations on revisions to the capital framework for authorised deposit-taking institutions.
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 $6.5 trillion in assets for Australian depositors, policyholders and superannuation fund members.