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APRA releases letter to ADIs on implementation of capital framework reforms

Wednesday 2 June 2021

The Australian Prudential Regulation Authority (APRA) has released a letter to authorised deposit-taking institutions (ADIs) on the implementation of the capital framework reforms, which will come into effect from 1 January 2023. 

This letter follows the December 2020 consultation on the ADI capital framework, aimed at reinforcing the industry’s ‘unquestionably strong’ capital position, as recommended by the Financial System Inquiry, and to improve the flexibility of the framework to respond during periods of stress.

APRA is now writing to ADIs to set out a clear timeline to finalise the consultation phase, and to support the banking industry’s implementation of the reforms.

The letter to industry is available on the APRA website at: ADI capital reforms: Roadmap to 2023.

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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 $7.7 trillion in assets for Australian depositors, policyholders and superannuation fund members.