APRA revokes Bank of Nova Scotia’s authorised deposit-taking institution licence
The Australian Prudential Regulation Authority (APRA) has agreed to a request from the Bank of Nova Scotia to revoke its licence to operate as an authorised deposit-taking institution (ADI) following its decision to exit the Australian banking market.
The updated list of all APRA-authorised ADIs is available on the APRA website at: Register of 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 $9.8 trillion in assets for Australian depositors, policyholders and superannuation fund members.