APRA Grants Authorized Deposit-Taking Institution License to Volt Bank
APRA granted volt bank Limited a licence to operate as an authorized deposit-taking institution (ADI) without restrictions under the Banking Act 1959. volt bank Limited was previously licensed by APRA in May 2018 as a Restricted ADI. volt bank is being reported as the first digital bank to receive full banking license in Australia.
Related Links
- Media Release
- APRA Authorization (PDF)
- Register of ADIs
- Restricted ADI Licensing Framework, May 2018
Keywords: Asia Pacific, Australia, Banking, Regtech, Fintech, Digital Bank, Volt Bank, APRA
Previous Article
CBB Proposes Rules on Robo-Advice by Banks and Investment FirmsRelated Articles
|
News
BCBS Consults on Revised Disclosures for Market Risk FrameworkBCBS launched a consultation on the revised disclosure requirements for the market risk framework for banks.
November 14, 2019
WebPage
Regulatory News
|
|
News
BCBS Consults on Disclosure Templates of Sovereign Exposures of BanksBCBS published a consultation on the voluntary disclosure templates related to sovereign exposures of banks.
November 14, 2019
WebPage
Regulatory News
|
|
News
PRA Publishes Final Policy on Maintenance of TMTP Under Solvency IIPRA published the policy statement (PS25/19) that contains the final supervisory statement (SS6/16) on maintenance of the transitional measure on technical provisions (TMTPs) under Solvency II.
November 14, 2019
WebPage
Regulatory News
|
|
News
FSB Examines Implementation of Resolution Regimes in Financial SectorFSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions and sets out plans for further work.
November 14, 2019
WebPage
Regulatory News
|
|
News
IAIS Adopts ComFrame, ICS, and Holistic Framework for Systemic RiskIAIS adopted a comprehensive set of reforms—Common Framework (ComFrame), Insurance Capital Standard (ICS) Version 2.0, and Holistic Framework for Systemic Risk—that will enable effective cross-border supervision of insurance groups and contribute to global financial stability.
November 14, 2019
WebPage
Regulatory News
|
|
News
PRA Publishes Templates for Statistical Disclosures Under Solvency IIPRA published templates for statistical disclosures, as required under Article 31(2) of the Solvency II Directive.
November 14, 2019
WebPage
Regulatory News
|
|
News
BIS and MAS Launch Innovation Hub in SingaporeBIS and MAS launched the BIS Innovation Hub Center in Singapore.
November 13, 2019
WebPage
Regulatory News
|
|
News
FASB Approves Guidance to Assist in Transition to New Reference RatesFASB approved an Accounting Standards Update (Topic 848) to provide temporary, optional guidance to ease the potential burden in accounting for, or recognizing the effects of, the reference rate reform on financial reporting.
November 13, 2019
WebPage
Regulatory News
|
|
News
FASB Proposes Improvements to Derivatives and Hedging StandardFASB proposed an Accounting Standards Update, on codification improvements to hedge accounting under Topic 815, to clarify certain sections of the 2017 hedge accounting standard (Update 2017-12).
November 13, 2019
WebPage
Regulatory News
|
|
News
MAS and Industry to Create Framework for Adoption of Responsible AIDAMAS announced that it is working with financial industry partners to create a framework for financial institutions to promote the responsible adoption of Artificial Intelligence and Data Analytics (AIDA).
November 13, 2019
WebPage
Regulatory News
|
