Today, Australian Prudential Regulation Authority (APRA) published two letters recently sent to Treasurer Hon Dr Jim Chalmers MP and Minister for Finance, Senator the Hon Katy Gallagher.
The letters outline nine actions APRA is taking to support productivity while maintaining the strength and stability of the financial system in a balanced and efficient way.
Further detail on the actions APRA is progressing are set out in APRA’s Corporate Plan. Importantly, these actions aim to improve regulatory efficiency and transparency, without compromising system financial safety and stability objectives.
Action | Timing | Impact: | ||
|---|---|---|---|---|
Lower costs | Simpler processes | Support innovation | ||
| Banks Licensing regime | Consultation commenced | ✔ | ✔ | ✔ |
| Life insurers Capital requirements | Consultation commenced | ✔ | ||
| General insurance Reinsurance settings | Consultation commenced | ✔ | ✔ | |
| Banks Capital adjustments | Implementation in 2H-2025 | Potentially over time | ✔ | |
| Banks Capital modelling | Implementation in 2H-2025 | Potentially over time | ✔ | |
| Banks Proportionality | Implementation in 2H-2025 | ✔ | ||
| All industries Duplicative rules | Consultation in 1H-2026 | ✔ | ||
| All industries Data reporting | Completed by December 2027 | ✔ | ✔ | |
| Payments Coordination | Timing subject to Government | ✔ | ✔ | ✔ |
The letters are available on the APRA website: APRA letter to Treasurer Chalmers and Minister Gallager, 31 July 2025 and APRA letter to Treasurer Chalmers and Minister Gallager, 12 August 2025.