Australia aims for Basel II compliance with capital adequacy changes
The Australian Prudential Regulation Authority (APRA), which monitors the jurisdiction’s finance industry, has outlined its proposals for new capital adequacy rules.
“In the case of authorised deposit-taking institutions (ADI), the changes have two main purposes,” said the APRA. “The first is to bring APRA’s approach to capital adequacy into line with the Basel II Framework, which will be implemented in Australia from January 1, 2008. The second is to finalise APRA’s treatment of conglomerate groups containing one or more locally incorporated ADIs, which was released in the form of draft conglomerate standards in 2002.”
The discussion paper on capital
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