APRA

Australia's Financial Regulator Imposes $1 Billion Capital Add-On on ANZ Bank

1 day ago

In a substantial move aimed at bolstering financial stability, Australia's prudential regulator has announced that it will mandate a capital add-on for Australia and New Zealand Banking Group (ANZ). The requirement, set at a formidable $1 billion, is part of broader efforts to ensure that banks maintain adequate capital reserves in response to evolving market conditions and potential economic risks.

Australia's Opposition Pushes for Relaxed Loan Standards Amidst Economic Concerns

3 days ago

The political landscape in Australia is heating up as the opposition party calls for significant changes to the country's banking regulations, specifically targeting the standards required for loan approvals. This move comes at a time when many Australians are struggling with rising living costs and soaring interest rates.

Pensions Watchdog Investigates Cbus Over High Expense Bills

2 months ago

In a significant move that reverberates through Australia’s financial landscape, the pensions watchdog has initiated an inquiry into Cbus, one of the country's largest industry superannuation funds. This investigation revolves around allegations concerning excessive expense claims submitted by the fund’s administration. The inquiry aims to ensure transparency and accountability within the pension fund management ecosystem, particularly in light of rising scrutiny over financial governance.

CEO Murder Suspect Luigi Mangione Receives Unexpected Praise, Sparking Worries of Copycat Crimes

4 months ago

In a chilling turn of events, Luigi Mangione, a suspect in the high-profile murder of a prominent CEO, has ignited a wave of unexpected admiration from certain sectors of the public. His situation has raised alarm bells among law enforcement officials and industry leaders, who are now concerned about the possibility of copycat incidents inspired by the attention and praise Mangione has received.

Concerns Rise as Australian Pension Funds Face Oversight Failings, Warns Watchdog

5 months ago

The Australian Prudential Regulation Authority (APRA) has issued a stern warning regarding the governance and oversight practices within the country's pension funds, commonly referred to as superannuation funds. This alert comes amid growing concerns over potential lapses that could compromise the financial security of millions of Australians, particularly in light of the recent market volatility.

Australia's Home Price Growth Holds Steady at Elevated Level

6 months ago

Into the Australian housing market, home prices there continue to see healthy growth, according to the most recent data released by CoreLogic Inc., steady at elevated levels. Surprisingly, the resilient housing market continues to hold onto an upward trajectory in growth through September 2024.