APRA Chair Urges Broader View of Financial Risks Amid Global Economic Interconnectivity
In a recent speech at the AFR Banking Summit, Australian Prudential Regulation Authority (APRA) Chair John Lonsdale emphasized the importance of taking a wider view of potential risks to financial stability. He highlighted the growing interconnectivity of global and domestic economic systems as a key factor in this assessment.
The Importance of a Broader View
Lonsdale stressed that Australian banking regulatory bodies must consider the potential risks to financial stability, not just within Australia’s borders but also globally. This is due to the increasing interconnectedness of economies, which can have far-reaching consequences for financial institutions and markets.
APRA’s Plan for System-Wide Stress Test in 2025
Lonsdale also provided new details about APRA’s plan for its first system-wide stress test in 2025. This initiative aims to assess the resilience of Australia’s banking sector under various economic scenarios, providing valuable insights for regulators and financial institutions alike.
APRA’s Mandate and Achievements
As Australia’s prudential supervisor, APRA is responsible for ensuring that the country’s financial system remains stable, competitive, and efficient. With 25 years of experience in protecting Australian consumers’ financial interests and promoting a healthy banking sector, APRA has become a leading authority on financial regulation.
“APRA Explains” Video Series
To better communicate its work and achievements to the public, APRA has launched a new video series called “APRA Explains”. This series provides an in-depth look at APRA’s role in ensuring financial stability and promoting a competitive banking industry.
Stay Up-to-Date with APRA News and Developments
The public can stay informed about APRA’s latest news and developments by subscribing to their email newsletter. The newsletter provides media releases, publications, speeches, and other industry-related information, keeping readers up-to-date on the latest happenings in the world of financial regulation.
Additional Resources
- Follow APRA on LinkedIn for the latest speeches, announcements, career opportunities, and employee activities.
- Visit the APRA website to learn more about their work and initiatives.