APRA removes National Australia Bank’s operational risk capital add-on

News Financial services English Law & Policy Updates

Date: 13th Mar, 2024 Source: Australian Prudential Regulation Authority Country: Australia Original Source

Brief

Summary:

The Australian Prudential Regulation Authority (APRA) has removed the $500 million capital add-on imposed on National Australia Bank (NAB) in July 2019 due to issues with risk governance and risk culture. APRA was satisfied that NAB had completed its remediation program and addressed the identified issues, leading to the removal of the capital add-on effective immediately.

The Australian Prudential Regulation Authority (APRA) has removed the $500 million capital add-on it imposed on National Australia Bank (NAB) in response to issues identified in the bank’s risk governance self-assessment. APRA imposed the $500 million capital add-on in July 2019 in response to non-financial risk management and risk culture weaknesses identified in its self-assessment.

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Australian Prudential Regulation Authority

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APRA removes National Australia Bank’s operational risk capital add-on

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APRA removes National Australia Bank’s operational risk capital add-on

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Australian Prudential Regulation Authority

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