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Showing 61 - 70 of 196 results for "Prudential Standard"

APRA reinforces capital call expectations

JAMIE WILLIAMSON  |  TUESDAY, 1 NOV 2022
New APRA chair John Lonsdale wrote to banks and general and life insurers to remind them of the prudential requirements for additional Tier 1 and Tier 2 capital instruments. "With global credit spreads widening significantly over the past 12 months ...

Fed seeks feedback on rules to resolve large bank failures

ANDREW MCKEAN  |  MONDAY, 17 OCT 2022
The Federal Reserve has invited public comment on an advance notice of proposed rulemaking to enhance regulators' ability to resolve large bank failures. The Fed said recent merger activity and growth has increased the size of large US banking organisations ...

Data sharing laws updated in response to Optus breach

JAMIE WILLIAMSON  |  FRIDAY, 7 OCT 2022
... destroy all the information. They must also attest to APRA that the data will be managed in accordance with Prudential Standard CPS 2234 Information Security. "The proposed changes will also allow for increased fraud detection in the broader financial ...

APRA unmasks fund outsourcing impacts

ANDREW MCKEAN  |  THURSDAY, 6 OCT 2022
... APRA prescribed that to monitor and support the measurement of outcomes for members effectively, in line with Prudential Standard SPS 515 Strategic Planning and Member Outcomes (SPS 515), better practice requires trustees to clearly define and measure ...

APRA to modernise regulatory frameworks

ANDREW MCKEAN  |  TUESDAY, 13 SEP 2022
... international regulatory peers. Several modernisation initiatives are already underway, including APRA's first prudential standard to strengthen operational resilience (which will replace five current standards). APRA chair Wayne Byres said: "Since APRA's ...

APRA aims to bolster financial crisis response

CASSANDRA BALDINI  |  WEDNESDAY, 7 SEP 2022
APRA has begun consulting on new prudential standards to strengthen the financial crisis response of banks, insurers and superannuation trustees. The regulator said the two proposed standards are aimed at ensuring entities are prepared to deal with ...

APRA removes Westpac liquidity add-on

CASSANDRA BALDINI  |  THURSDAY, 1 SEP 2022
APRA has removed Westpac's liquidity add-on after finding it breached prudential standards. The 10% add-on was applied to the net cash outflow component of Westpac's liquidity coverage ratio (LCR) and will no longer be included from today. In a statement ...

MobiSuper, licensee to pay $250k penalty

JAMIE WILLIAMSON  |  MONDAY, 29 AUG 2022
... MobiSuper's trustee, failed to adequately monitor MobiSuper in regard to the same issues, and failed to comply with Prudential Standard SPS 231 Outsourcing. Tidswell's RSE licence was cancelled in June 2021. ASIC first launched its action against ...

APRA releases annual corporate plan

CASSANDRA BALDINI  |  MONDAY, 8 AUG 2022
... Embed key prudential reforms including "unquestionably strong" capital ratios, Basel III requirements and Prudential Standard CPS 511 Remuneration. Embed good governance, risk culture, remuneration and accountability (GCRA) practices across the banking ...

APRA to improve strategic planning, member outcomes rules

JAMIE WILLIAMSON  |  MONDAY, 1 AUG 2022
... closer monitoring of financial resources and new rules to follow when a MySuper authorisation is cancelled. Prudential Standard SPS 515 Strategic Planning and Member Outcomes (SPS 515) came into effect in January 2020, requiring trustees to regularly ...