APRA Licenses Avenue Bank as Restricted Deposit-Taking Institution
The Australian Prudential Regulation Authority (APRA) recently granted Avenue Bank Limited a limited-time license to operate as a restricted authorized deposit-taking institution and Avenue Hold Limited a license to operate as a non-operating holding company, under the Banking Act 1959. The commencement date of license for Avenue Bank is September 07, 2021 and the license ceases to have effect on September 07, 2023. APRA also updated the respective lists of all authorized deposit-taking institutions and non-operating holding companies.
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Keywords: Asia Pacific, Australia, Banking, Restricted DI, Avenue Bank, Banking Act, Limited-Time License, Bank Licenses, APRA
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