APRA releases response letter on the implementation of Reporting Standard ARS 220.0 Credit Quality
The Australian Prudential Regulation Authority (APRA) has published a response letter on the implementation of Reporting Standard ARS 220.0 Credit Quality, released for consultation on 8 June 2021.
In the letter to industry released today, APRA also refers to the consequential changes to authorised deposit-taking institutions' (ADIs') reporting standards affected by the implementation of the new Prudential Standard APS 220 Credit Risk Management.
The response package is available on the APRA website at: Proposed revisions to the credit risk management framework for authorised deposit-taking institutions.
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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.