For the banking, insurance and superannuation industries, APRA has developed a comprehensive framework of prudential standards and prudential practice guides. APRA’s standards set out minimum capital, governance and risk management requirements. The prudential practice guides provide direction on how institutions may adhere to these prudential standards, as well as to other related expectations.
When APRA proposes new prudential standards, releases new prudential practice guides, or makes significant changes to existing standards and guides, there is a period of formal, public consultation with industry and other stakeholders on the proposals. Feedback from stakeholders as part of these consultations is then used by APRA to finalise its policy proposals.