APRA'S PLANS TO SUPPORT SMALL AND MEDIUM-SIZED BANKS

SYDNEY, Aug. 7 -- Australian Prudential Regulation Authority issued the following media release:

The Australian Prudential Regulation Authority (APRA) will make changes to its banking framework to increase proportionality and reduce regulatory burden as part of the Council of Financial Regulators' (CFR) Review into Small and Medium-sized Banks.

The findings and recommendations of the Review, undertaken by the CFR1 and the Australian Competition and Consumer Commission, were released yesterday by the Treasurer.

As noted in the Treasurer's media release, the government welcomed all nine actions from regulators and has accepted in-principle eight of the recommendations from the review. Government will seek feedback on the final recommendati...