Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

APRA extends Basel III deadline

The prudential regulator has written to Australian banks advising them of an extension to the 1 January 2015 deadline for Basel III disclosure requirements.

On 18 September 2014, APRA released for consultation a discussion paper and draft amendments to Prudential Standard APS 110 Capital Adequacy and Prudential Standard APS 330 Public Disclosure, which outlined APRA’s proposed implementation of new disclosure requirements for authorised deposit-taking institutions (ADIs).

The disclosures are in relation to the leverage ratio, the liquidity coverage ratio and the identification of potential globally systemically important banks.

Advertisement
Advertisement

“This consultation package also proposed minor amendments to rectify minor deviations from APRA’s implementation of the Basel Committee’s Basel III framework,” APRA’s Charles Littrell said in a letter to ADIs yesterday.

“APRA’s intention was that, subject to the outcome of the consultation, these amendments would come into effect from 1 January 2015,” Mr Littrell said.

“[However,] a number of matters remain to be addressed before APRA is able to finalise the new standards.

“Accordingly, given the limited period of time remaining before the scheduled implementation date, APRA is advising affected ADIs that any new requirements will not take effect until 1 April 2015 at the earliest.”

APRA extends Basel III deadline
mortgagebusiness

 

Latest News

The federal government has commissioned the ACCC to conduct a new inquiry into the pricing of home loan products in Australia’s mortgage...

The ABS has reported an investor-driven “pop” in home loan activity, which, according to ANZ Research, could be a cause for “concern...

The major bank has pledged $2 billion in funding and services to assist not-for-profit affordable and specialist housing providers, includin...

FROM THE WEB
podcast

LATEST PODCAST: Mortgage pricing and product switching

Do you think the mortgage market will see more consolidation this year?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.