The Australian Prudential Regulation Authority (APRA) has released for consultation a letter to authorised deposit-taking institutions (ADIs) on its draft expectations regarding ADIs’ preparedness for the possibility of zero and negative interest rates.
The letter to industry is available on the APRA website at: Consultation on zero and negative interest rates.
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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 $9.8 trillion in assets for Australian depositors, policyholders and superannuation fund members.