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

New APRA data has revealed that ANZ was the only big four bank to record negative home lending growth before the coronavirus outbreak altere...

The rapid move to support digital mortgages amid the coronavirus pandemic “will have a dramatic effect” on how people will transact on m...

Mortgage holders will be breathing a “sigh of relief” following the federal government’s announcement of a new $130-billion support p...

FROM THE WEB
podcast

LATEST PODCAST: Further relief for SMEs and borrowers

Do you think Australia will move to quantitative easing this year?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

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