SYDNEY, Feb. 5 -- Australian Prudential Regulation Authority issued the following media release:
The Australian Prudential Regulation Authority (APRA) has reduced liquidity add-on requirements imposed on Macquarie Bank Limited in 2021 and 2022.
APRA took action against Macquarie Bank following material breaches that revealed weaknesses in the bank's liquidity risk controls and operational risk management.
In April 2021, APRA required Macquarie Bank to increase its Net Cash Outflow (NCO) overlay by 15 per cent in the Liquidity Coverage Ratio (LCR) calculation and reduce the Available Stable Funding (ASF) by 1 per cent for its Net Stable Funding Ratio (NSFR) calculation. APRA also agreed a remediation plan with the bank to address th...