APRA has written to ADIs setting out its requirements in respect of securitisation programs leading up to the implementation of Basel III on 1 January 2012.

Each ADI will need to revise its securitisation policies and procedures and review all existing self-assessments to ensure compliance with the amended APS 120 by 1 January 2012.

APRA has requested that each ADI provide, by 31 August 2011, details of its plans and timelines to ensure full compliance with all the requirements of the new APS 120 by 1 January 2012.

Bright Law can assist with providing independent legal advice and with self-assessment issues.