APRA hit big banks with extra capital charges

by Chris Becker

APRA is ordering the remainder of Megabank to hold a little more capital in reserve in case of bad things. From Martin North:

APRA has written to ANZ, National Australia Bank (NAB) and Westpac advising of an increase in their minimum capital requirements of $500 million each. The capital add-ons will apply until the banks have completed their planned remediation to strengthen risk management, and closed gaps identified in their self-assessments.

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