Australia revises Basel II standardised approaches

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The Australian Prudential Regulation Authority has published the final draft of its standardised approaches to credit and operational risk.

The draft includes several amendments made as a result of industry comments. The regulator will consider comments on the final draft submitted by September 3.

John Laker, chairman of APRA, said: “Compared with current arrangements, these approaches better align the regulatory capital requirements for credit and operational risk with the risk profile of an authorised deposit-taking institution (ADI), while minimising complexity for the less-diversified or globally active ADIs that will be adopting the approaches.” Australia, which introduces Basel II at the start of 2008, will finalise the rules later this year.

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