APRA Requires Three Australian Major Banks to Hold More Operational Risk Capital. No FVE Changes
The banking regulator, Australian Prudential Regulation Authority, or APRA, has forced three of the four major banks to hold, on a temporary basis, an additional AUD 500 million each in operational risk capital requirement. APRA’s initiative is in response to the culture, governance and accountability self-assessment process carried out by Australia and New Zealand Banking Group, National Australia Bank, and Westpac Banking Corporation. In short, APRA believes the three major banks need to impro...
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