Australia Big Four face A$37bn capital revamp
Apra phase-out of AT1 instruments will force banks to restructure hybrid capital by 2032
Australia’s four largest banks held A$36.7 billion ($23.6 billion) in Additional Tier 1 (AT1) capital as of March 31, in the first public disclosure since the Australian Prudential Regulation Authority (Apra) confirmed on December 9 that AT1 instruments would be phased out under new rules.
The revised capital framework is set to come into effect on January 1, 2027. From that date, existing AT1
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