A number of APRA prudential standards and requirements for banks, insurers and RSE licensees commenced on 1 January 2023.
These include:
- the bank countercyclical capital buffer is now set at a new default rate of 1 per cent of risk-weighted assets.
- Prudential Standard CPS 511 Remuneration, which applies to all ADIs, general insurers, life companies, including friendly societies, private health insurers and RSE licensees.
- Banking, Insurance, Life Insurance and Health Insurance Prudential Standard CPS 510 Governance.
- Banking Prudential Standard APS 120 Securitisation.
- Banking Prudential Standard APS 121 Covered Bonds.
- Banking Prudential Standard APS 180 Capital Adequacy: Counterparty Credit Risk .
- Banking Prudential Standard APS 210 Liquidity.
- Banking Prudential Standard APS 220 Credit Risk Management.
- Banking Prudential Standard APS 221 Large Exposures.
- Banking Prudential Standard APS 310 Audit and Related Matters.
- Banking Prudential Standard APS 110 – Capital Adequacy.
- Banking Prudential Standard APS 111 Capital Adequacy: Measurement of Capital.
- Banking Prudential Standard APS 112 Capital Adequacy: Standardised Approach to Credit Risk.
- Banking Prudential Standard APS 113 Capital Adequacy: Internal Ratings-based Approach to Credit Risk.
- Banking Prudential Standard APS 115 Capital Adequacy: Standardised Measurement Approach to Operational Risk.
- Banking Prudential Standard APS 116 Capital Adequacy: Market Risk.
- Banking Prudential Standard APS 330 Public Disclosure.
- Banking, Insurance, Life Insurance and Superannuation Prudential Standard CPS 226 Margining and risk mitigation for non-centrally cleared derivatives.
- Superannuation Prudential Standard SPS 530 Investment Governance.
- Superannuation Prudential Standard SPS 510 Governance, which applies to all RSE licensees.
If you found this article helpful, then subscribe to our news emails to keep up to date and look at our video courses for in-depth training. Use the search box at the top right of this page or the categories list on the right hand side of this page to check for other articles on the same or related matters.
Author: David Jacobson
Principal, Bright Corporate Law
Email:
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
