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APRA releases letters sent to Treasurer Jim Chalmers and Finance Minister Katy Gallagher

Today, Australian Prudential Regulation Authority (APRA) published two letters recently sent to Treasurer Hon Dr Jim Chalmers MP and Minister for Finance, Senator the Hon Katy Gallagher.

The letters outline nine actions APRA is taking to support productivity while maintaining the strength and stability of the financial system in a balanced and efficient way.

Further detail on the actions APRA is progressing are set out in APRA’s Corporate Plan. Importantly, these actions aim to improve regulatory efficiency and transparency, without compromising system financial safety and stability objectives.

Action

Timing
 

Impact:


Lower costs

 
Simpler processes


Support innovation

Banks
Licensing regime
Consultation 
commenced

Life insurers 
Capital requirements
Consultation 
commenced

  
General insurance 
Reinsurance settings
Consultation 
commenced

 
Banks
Capital adjustments
Implementation 
in 2H-2025
Potentially over time

 
Banks
Capital modelling
Implementation 
in 2H-2025
Potentially over time

 
Banks
Proportionality
Implementation 
in 2H-2025

  
All industries 
Duplicative rules
Consultation in 
1H-2026

  
All industries
Data reporting
Completed by
December 2027

 
Payments
Coordination
Timing subject 
to Government

The letters are available on the APRA website: APRA letter to Treasurer Chalmers and Minister Gallager, 31 July 2025 and APRA letter to Treasurer Chalmers and Minister Gallager, 12 August 2025.
 

Media enquiries

Contact APRA Media Unit, on +61 2 9210 3636

All other enquiries

For more information contact APRA on 1300 558 849.

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.