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The Australian Prudential Regulation Authority (APRA) intends to impose global standards on banks in a bid to tighten their liquidity risk management practices through implementing a global regulatory framework for risk management and supervision.
The proposed changes include enhanced disclosure and reporting requirements, together with the inclusion of stress scenarios such as market disruption.
APRA’s recommendations are based on the principles published by the Basel Committee on Banking Supervision last year.
The Basel Committee is currently developing a global framework to supplement its earlier publication, which will be considered by APRA in view of further tightening the banks’ risk management strategies.
Submissions to APRA will close on Monday, 30 November 2009.
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