APRA releases new frequently asked question on commercial property valuations for ADIs
The Australian Prudential Regulation Authority (APRA) has published a new frequently asked question to assist authorised deposit-taking institutions (ADIs) in complying with their prudential requirements relating to commercial property valuations.
The FAQ has been published in recognition that the COVID-19 environment is creating challenges for ADIs in regard to updating commercial property valuations.
The updated guidance has been added to APRA’s COVID-19 Banking FAQs, and is available on the APRA website at: Banking COVID-19 frequently asked questions.
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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.