The Australian Prudential Regulation Authority (APRA) has written to all authorised deposit-taking institutions (ADIs) and insurers to provide guidance on capital management during the period of significant disruption caused by COVID-19.
In a letter to ADIs, general insurers, life companies and private health insurers, APRA outlined its expectations that these institutions limit discretionary capital distributions in the months ahead, including deferrals or prudent reductions in dividends.
The letter is available on the APRA website at: Capital management.