APRA releases minor amendments to capital framework for ADIs
The Australian Prudential Regulation Authority (APRA) has released final prudential standards and guidance with consequential amendments from the updated capital adequacy and credit risk capital requirements for authorised deposit-taking institutions (ADIs).
The package released today follows the publication in November 2021 of APRA's new bank capital framework, designed to embed “unquestionably strong” levels of capital and align Australian standards with the internationally agreed Basel III requirements.
The consequential amendments relate mainly to cross-referencing in the ADI prudential framework and ensure consistency of APRA’s broader prudential framework with the capital reforms.
The letter to industry, final standards and prudential practice guides, and a non-confidential submission can be found on the APRA website at: Revisions to the capital framework for authorised deposit-taking institutions.
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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.