Powered by MOMENTUM MEDIA
subscribe to our newsletter
APRA extends Basel III deadline

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

A global market analyst has urged observers not to “overstate” the extent of the housing downturn, despite the RBA claiming that it has ...

The major bank has announced a raft of changes to its wealth strategy, including the sale of its “high-cost, loss-making” personal finan...

A big four bank has resumed business with the embattled residential property valuations firm, following a cyber attack that exposed the priv...

FROM THE WEB
podcast

LATEST PODCAST: Coalition government and CBA delays

Is enough being done to ensure responsible lending?