APRA warns again on bank funding

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From Banking Day:

The chairman of the Australian Prudential Regulation Authority, Wayne Byres, put the banking industry on notice yesterday that its work on making authorised deposit-taking institutions “unquestionably strong” would involve more than requiring them to hold plenty of capital.

Speaking at a Finsia conference in Sydney yesterday, Byres said another area of focus was funding, or more particularly the Australian banking system’s high dependence on offshore funding.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.