Region: Australia

APRA changes capital requirements, favours small banks

Australia’s new bank capital framework has introduced a two-tier system with simplified requirements for small banks – but while the regulator says it won’t be asking big banks to raise more capital, Macquarie says it nevertheless anticipates a A$2.2 billion hit to its capital surplus.

01 December 2021

Australia’s rule-free climate risk guidelines fall short, critics say

Australia’s newly-released guidance on managing climate change risks doesn’t go far enough, environmental groups have said, criticising the lack of prescribed rules.

29 November 2021

APRA outlines climate stress tests as experts cast doubt over process

Australia’s prudential regulator has released details of the climate assessments the country’s largest banks are currently conducting, as environmental campaigners liken the regulator’s existing climate-related stress testing guidance to similar models that preceded the 2008 financial crisis.

06 September 2021

“More skin in the game”: Australian regulator finalises remuneration overhaul

Australia’s prudential regulator has confirmed new remuneration rules for the banking sector, after revising more prescriptive plans for the application of risk and conduct requirements.

02 September 2021

Fieldfisher hires from BNY Mellon; Ashurst appoints in Sydney

A Bank of New York Mellon managing counsel has joined Fieldfisher's London office, while Ashurst has continued the expansion of its finreg practice with a new partner hire in Sydney.

19 August 2021

ASIC brings in royal commission reforms

Six “game changer” reforms will go live at the start of October in response to the Hayne Royal Commission, Australia’s securities regulator has promised, including breach reporting requirements and changes to product design and distribution requirements.

13 August 2021

Ashurst advising on Australian digital bank licensing

Australia’s banking regulator has granted its first banking licence since the lifting of a pandemic-era moratorium, as it prepares a coming revamp of its bank licensing framework.

14 July 2021

PRA removes dividend limits

The UK’s Prudential Regulation Authority has removed the “extraordinary guardrails” it imposed on dividend distribution during the pandemic, but has warned banks to exercise an “appropriate degree of caution”.

14 July 2021

TIGRR report targets EU-legacy regulation

A government taskforce formed to revamp UK regulation post-Brexit has recommended dumping EU rules for a less prescriptive common law approach – including a more aggressive transition to open banking, a hybrid CBDC and a “graduated” capital requirements regime for challenger banks.

21 June 2021

Australian banks deny “virtue signalling” on climate plans

Australia’s banking industry group has defended local big-four bank ANZ’s plans to reduce its exposure to carbon-intensive projects, as companies in the coal industry complain of the “growing trend” of banks to decline financing for new projects.

24 May 2021

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