APRA provides update on operational preparedness for zero and negative interest rates
The Australian Prudential Regulation Authority (APRA) has released a letter to authorised deposit-taking institutions (ADIs) on operational preparedness for zero and negative interest rates.
The letter can be found on the APRA website at: Operational preparedness for zero and negative interest rates.
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The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.