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APRA notes the application of BUSS (Queensland) Pty Ltd (BUSSQ) to the Federal Court of Australia in NSW regarding APRA’s decision to impose additional licence conditions on the trustee, which APRA announced on 14 August.
APRA has increased the capital add-on applied to Australia and New Zealand Banking Group (ANZ) to $750 million in response to heightened concerns about the bank’s non-financial risk management practices.