Original article by Jonathan Shapiro, James Fernyhough
The Australian Financial Review – Page: 19 : 10-Jul-19
The Australian Prudential Regulation Authority has scaled its near-term target for the amount of capital the nation’s banks will be required to hold. APRA had initially proposed that banks would have to increase their total capital by 4-5 percentage points by January 2024, but it has reduced this to three percentage points in response to industry feedback. However, it will require banks to meet the higher target in the longer-term.
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, MOODY’S INVESTORS SERVICE INCORPORATED