APRA releases consultation letter on loans impacted by COVID-19
The Australian Prudential Regulation Authority (APRA) has released a consultation letter on regulatory support for authorised deposit-taking institutions (ADIs) offering temporary financial assistance to borrowers impacted by COVID-19.
The regulatory support measures, which were first announced on 19 July, are subject to a one-week public consultation.
The consultation letter to ADIs is available on the APRA website at: Treatment of loans impacted by COVID-19.
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The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.