APRA releases letter and data on temporary loan repayment deferrals due to COVID-19
The Australian Prudential Regulation Authority (APRA) has issued a letter to authorised deposit-taking institutions (ADIs) and published aggregated data on temporary loan repayment deferrals due to COVID-19.
The letter to all ADIs provides an update on APRA’s regulatory approach to loans subject to repayment deferrals and temporarily adjusts the capital treatment of loans where terms are modified or renegotiated, as outlined in the media release of 8 July 2020.
To provide greater transparency of temporary loan repayment deferrals, APRA has published aggregated data from Australia’s 20 largest ADIs. APRA will continue to update this information on a monthly basis.
The letter is available on the APRA website at: Letter to authorised deposit-taking institutions - Treatment of loans impacted by COVID-19.
The aggregated data is available on the APRA website at: Temporary loan repayment deferrals due to COVID-19.
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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.