KONTAN.CO.ID - SYDNEY. Australia's main financial regulator on Tuesday said it had decided to lift the capital buffer for banks by less than originally proposed, a win for institutions that had argued the targets were too onerous. The Australian Prudential Regulation Authority (APRA) said banks would now be required to lift their total capital by 3 percentage points of risk weighted assets by Jan. 1, 2024, instead of the 4-5 percentage points initially proposed. APRA said it would take the next four years to consider other methods to reach the original target, which was part of a global effort to beef up banks' ability to absorb losses during times of financial stress.
Australia to raise bank capital buffers by less than expected
KONTAN.CO.ID - SYDNEY. Australia's main financial regulator on Tuesday said it had decided to lift the capital buffer for banks by less than originally proposed, a win for institutions that had argued the targets were too onerous. The Australian Prudential Regulation Authority (APRA) said banks would now be required to lift their total capital by 3 percentage points of risk weighted assets by Jan. 1, 2024, instead of the 4-5 percentage points initially proposed. APRA said it would take the next four years to consider other methods to reach the original target, which was part of a global effort to beef up banks' ability to absorb losses during times of financial stress.