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APRA grants new authorised deposit-taking institution licence to volt bank

Tuesday 22 January 2019

The Australian Prudential Regulation Authority (APRA) has granted volt bank Limited a licence to operate as an authorised deposit-taking institution (ADI) without restrictions under the Banking Act 1959.

volt bank Limited was previously licensed by APRA in May 2018 as a Restricted ADI.

More information on the Restricted ADI licence framework can be found at: https://www.apra.gov.au/media-centre/media-releases/apra-finalises-new-restricted-adi-licensing-framework

An updated list of all APRA-authorised ADIs can be found on the APRA website at: https://www.apra.gov.au/register-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 trillion in assets for Australian depositors, policyholders and superannuation fund members.