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BRIEF-Westpac Banking Corp Acknowledges Release Of Discussion Paper By APRA

Published 15/10/2019, 05:00 pm
© Reuters.  BRIEF-Westpac Banking Corp Acknowledges Release Of Discussion Paper By APRA
WBC
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Oct 15 (Reuters) - Westpac Banking Corp WBC.AX :

* ACKNOWLEDGES RELEASE OF A DISCUSSION PAPER BY AUSTRALIAN PRUDENTIAL REGULATORY AUTHORITY (APRA)

* THERE IS NO IMPACT FROM THIS PROPOSAL ON CALCULATION OF GROUP'S REPORTED REGULATORY CAPITAL RATIOS ON A LEVEL 2 BASIS

* MUST CONTINUE TO MEET PRUDENTIAL REQUIREMENTS FOR LEVEL 1 CAPITAL WHICH MAY ULTIMATELY IMPACT CAPITAL RATIOS ON A LEVEL 2 BASIS

* EXPECTS TO FINALISE REVIEW ANNOUNCED ON TUESDAY ALONG WITH ITS BROADER REVIEW OF CAPITAL ADEQUACY FRAMEWORK IN 2020

* ON PROFORMA BASIS AT 30 JUNE, ESTIMATED APPLYING APRA'S PROPOSED APPROACH TO REDUCE CO'S LEVEL 1 CET1 CAPITAL RATIO BY ABOUT 40BPS

* WESTPAC'S LEVEL 2 CET1 RATIO AT 30 JUNE 2019 WAS 10.5% AND WOULD NOT BE AFFECTED BY THIS CHANGE

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