Featured Product

    APRA Survey Examines Supervisory Impact on Regulated Entities

    July 31, 2019

    APRA released the findings of its sixth biennial survey of regulated entities and “Knowledgeable Observers,” such as auditors, actuaries, and industry associations. The survey found that the regulatory and supervisory approaches of APRA are having a positive impact on risk management and culture in the banking, insurance, and superannuation industries. Nearly 280 regulated entities and 70 knowledgeable observers responded to this 2019 Stakeholder Survey, which was conducted online by Orima Research.

    Although the overall results were positive, the survey picked up a slight downward trend in overall perceptions of APRA compared to the 2017 survey. The survey highlighted industry concern about the costs of regulatory compliance, identified that a third of respondents thought APRA collected too much statistical data, and indicated that entities were placing less importance on the harmonization of the prudential framework across regulated industries. The following are the additional key findings of the survey:

    • More than 90% of regulated entities believe that APRA supervision helps to protect both their industry and the Australian community, consistent with previous stakeholder surveys, with a similar proportion of entities reporting that supervision by APRA has had a positive impact on their risk management practices
    • 86% believe the increased focus on risk culture has had a positive impact on their entity
    • 81% believe APRA is effective in identifying risks across their industry
    • 86% believe that APRA supervision enhances the financial and operational strength of their entity
    • 92% agree that public communications by APRA are clear and effective


    Related Links

    Keywords: Asia Pacific, Australia, Banking, Insurance, Pensions, Superannuation, Risk Management, Biennial Stakeholder Survey, APRA

    Related Articles
    News

    FED Adopts Proposal to Implement Reporting Form for SCCL

    FED adopted a proposal to implement the Single-Counterparty Credit Limits (SCCL) reporting form (FR 2590; OMB No. 7100-NEW).

    November 20, 2019 WebPage Regulatory News
    News

    FED Proposes to Extend Initial Compliance Dates Under SCCL Rule

    FED published a proposal to extend, by 18 months, the initial compliance dates for foreign banks subject to the single-counterparty credit limit (SCCL) rule.

    November 20, 2019 WebPage Regulatory News
    News

    CBIRC to Strengthen Supervisory and Policy Support for SME Services

    CBIRC released a notification on strengthening supervision and guidance to enhance the quality and efficiency of financial services for "small and micro-enterprises" (SMEs).

    November 20, 2019 WebPage Regulatory News
    News

    APRA Publishes Approach to Regulating and Supervising GCRA Risks

    APRA published an information paper that sets out a more intensive regulatory approach to transform governance, culture, remuneration, and accountability (GCRA) practices across the prudentially regulated financial sector.

    November 19, 2019 WebPage Regulatory News
    News

    US Agencies Update Rule on Derivative Contracts Exposure Calculation

    US Agencies (FDIC, FED, and OCC) announced a final rule updating the way certain banking organizations are required to measure counterparty credit risk for derivative contracts under their regulatory capital rules.

    November 19, 2019 WebPage Regulatory News
    News

    US Agencies Finalize Rule to Amend Treatment of HVCRE Exposures

    US Agencies (FDIC, FED, and OCC) finalized a rule to modify the treatment of high volatility commercial real estate (HVCRE) exposures, as required by the Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act.

    November 19, 2019 WebPage Regulatory News
    News

    US Agencies Finalize Changes to Rule on Supplementary Leverage Ratio

    US Agencies (FDIC, FED, and OCC) finalized changes to the capital requirement for banking organizations predominantly engaged in custodial activities, as required by the Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act.

    November 19, 2019 WebPage Regulatory News
    News

    IAIS Consults on Guidance on Liquidity Risk Management for Insurers

    IAIS is seeking feedback on the draft application paper on liquidity risk management for insurers.

    November 19, 2019 WebPage Regulatory News
    News

    IAIS Publishes Application Paper on Recovery Planning

    IAIS published the final application paper on recovery planning, along with the resolution of comments on the draft application paper.

    November 18, 2019 WebPage Regulatory News
    News

    FSB Publishes Summary of November Meeting of RCG for MENA Region

    FSB published a summary of the November meeting of the Regional Consultative Group (RCG) for Middle East and North Africa (MENA).

    November 17, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4174