APRA (295 items)

Friends and foe rock banking pillar

There may be a dash for the exits from the rowdy sanctums of the Australian Bankers Association, with more than one bank jostling for first mover advantage and the accolades that may come from a select set of stakeholders for doing so.Banks of different stripes are treating a respectful - or in your face - resignation from the ABA as a strategic matter of the utmost importance. read more

CBA panel bring history to APRA inquiry

APRA rolled out a trio of well known scrutineers on Friday to turn risk and culture matters at Commonwealth Bank head over heel via an eight-month inquiry. The Australian Prudential  Regulation Authority said the panel of three would have a budget to engage "other external expertise and advice as its sees fit," so CBA's board and management may find a lot of new faces asking questions and chewing through time. read more

CBA yields to APRA oddbods

There is no word from APRA on how many experts will be appointed to the independent prudential panel set to tie up Commonwealth Bank's management and board with a "broad" inquiry into culture and conduct at the bank.The bank and the public will learn the terms of reference once APRA sorts the detail on an intervention of a wholly new form for the sector. read more

Comment:  Panel's eyes on APRA along with CBA

Protecting competition in the domestic financial services sector has rarely figured much in the deliberations and behind-the-scenes manoeuvres of the Australian Prudential Regulation Authority.This may form one theme of the work of an "independent panel" that APRA is about to appoint to audit governance and conduct matters at Commonwealth Bank. read more

NAB frothing over accountability regime

National Australia Bank has warned that the Federal Government's new effort to make bank executives more accountable to shareholders and customers could result in a "detrimental" shift in financial services regulation and undermine APRA’s relationships with banks.In a definitively negative and perhaps over-pitched submission to the Treasury consultation on the proposed Banking Executive Accountability Regime, the country's fourth-largest bank exhorted the Turnbull government to rethink proposals to give more powers to APRA.NAB is opposed - unequivocally - to the prospect of a broader definition of "accountable persons" including board chairs and non-executive directors who oversee the work of risk and audit committees. read more

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