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

    EC Rule on Contractual Recognition of Write Down and Conversion Powers

    The European Commission (EC) published the Delegated Regulation 2021/1527 with regard to the regulatory technical standards for the contractual recognition of write down and conversion powers.

    September 17, 2021 WebPage Regulatory News
    News

    APRA Issues Further Guidance on Application of Securitization Standard

    The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to provide guidance to authorized deposit-taking institutions on the interpretation of APS 120, the prudential standard on securitization.

    September 16, 2021 WebPage Regulatory News
    News

    SRB Provides Update on Approach to Prior Permissions Regime

    The Single Resolution Board (SRB) published a Communication on the application of regulatory technical standard provisions on prior permission for reducing eligible liabilities instruments as of January 01, 2022.

    September 16, 2021 WebPage Regulatory News
    News

    APRA Publishes FAQs on Capital Treatment of Overseas Subsidiaries

    The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to clarify the regulatory capital treatment of investments in the overseas deposit-taking and insurance subsidiaries.

    September 15, 2021 WebPage Regulatory News
    News

    EBA Finalizes Guidance to Assess Breaches of Large Exposure Limits

    The European Banking Authority (EBA) published the final report on the guidelines specifying the criteria to assess the exceptional cases when institutions exceed the large exposure limits and the time and measures needed for institutions to return to compliance.

    September 15, 2021 WebPage Regulatory News
    News

    PRA Finalizes Changes to Consolidated Prudential Rules Under CRD5/CRR2

    The Prudential Regulation Authority (PRA) issued the policy statement PS20/21, which contains final rules for the application of existing consolidated prudential requirements to financial holding companies and mixed financial holding companies.

    September 15, 2021 WebPage Regulatory News
    News

    EBA Revises Guidelines on Stress Tests of Deposit Guarantee Schemes

    The European Banking Authority (EBA) revised the guidelines on stress tests to be conducted by the national deposit guarantee schemes under the Deposit Guarantee Schemes Directive (DGSD).

    September 15, 2021 WebPage Regulatory News
    News

    Nordea Bank and EIB Sign Agreement to Fund Green Projects in Nordics

    The European Commission (EC) announced that Nordea Bank has signed a guarantee agreement with the European Investment Bank (EIB) Group to support the sustainable transformation of businesses in the Nordics.

    September 15, 2021 WebPage Regulatory News
    News

    HKMA Endorses Industry Guidance to Support LIBOR Transition

    The Hong Kong Monetary Authority (HKMA) issued a circular, for all authorized institutions, to confirm its support of an information note that sets out various options available in the loan market for replacing USD LIBOR with the Secured Overnight Financing Rate (SOFR).

    September 14, 2021 WebPage Regulatory News
    News

    OCC Issues Booklet on Supervision of Problem Banks

    The Office of the Comptroller of the Currency (OCC) issued a new "Problem Bank Supervision" booklet of the Comptroller's Handbook. The booklet covers information on timely identification and rehabilitation of problem banks and their advanced supervision, enforcement, and resolution when conditions warrant.

    September 13, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7481