APRA releases update on policy priorities schedule for ADIs
The Australian Prudential Regulation Authority (APRA) has released a letter to authorised deposit-taking institutions (ADIs) providing an updated schedule of policy priorities for the banking industry for the remainder of 2023.
Given the overseas banking stress events earlier this year, APRA has reviewed its policy initiatives to prioritise some immediate actions to strengthen standards related to bank financial stability and slow down timelines on less pressing policy reforms.
The letter to ADIs can be found on the APRA website at: APRA policy priorities: Interim update.
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 $8.6 trillion in assets for Australian depositors, policyholders and superannuation fund members.