SYDNEY, Dec. 5 -- Australian Prudential Regulation Authority issued the following media release:
The Australian Prudential Regulation Authority (APRA) has begun consulting on adding a third tier to its prudential framework for banking to embed additional proportionality and drive competition in the industry.
As part of the Council of Financial Regulators' Review into Small and Medium-sized Banks, APRA committed to formalise a three-tiered approach to proportionality in the prudential framework for banking to better support competition from small and medium banks.
Under the existing framework, banks1 are classified as either significant or non-significant financial institutions. Significant financial institutions (SFIs) face additional or...