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BRIEF-APRA Says Increased Macquarie Bank's Liquidity And Operational Risk Capital Requirements

Published 01/04/2021, 12:41 pm
Updated 01/04/2021, 12:42 pm
© Reuters.

April 1 (Reuters) -

* AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY - INCREASED MACQUARIE BANK'S LIQUIDITY AND OPERATIONAL RISK CAPITAL REQUIREMENTS

* APRA - INCREASE IN MACQUARIE BANK'S CAPITAL REQUIREMENTS IN RESPONSE TO MULTIPLE MATERIAL BREACHES OF APRA'S PRUDENTIAL AND REPORTING STANDARDS

* APRA - BREACHES ARE HISTORICAL AND DO NOT IMPACT ON CURRENT OVERALL SOUNDNESS OF MACQUARIE GROUP'S CAPITAL OR LIQUIDITY POSITIONS

* APRA - WILL REQUIRE MACQUARIE BANK TO HOLD AN OPERATIONAL CAPITAL OVERLAY OF $500 MILLION

* APRA - WILL REQUIRE FROM MACQUARIE BANK A 15% ADD-ON TO THE NET CASH OUTFLOW COMPONENT OF ITS LCR CALCULATION

* APRA - INCREASES IN MACQUARIE BANK'S CAPITAL AND LIQUIDITY REQUIREMENTS WILL TAKE EFFECT FROM 1 APRIL 2021

* APRA - WILL SUBJECT MACQUARIE BANK TO INTENSIFIED SUPERVISION TO ADDRESS BANK'S PERSISTENT DIFFICULTIES IN COMPLYING WITH ITS PRUDENTIAL OBLIGATIONS

* APRA - CANNOT RULE OUT FURTHER ACTION AS MORE INFORMATION COMES TO LIGHT ABOUT ROOT CAUSES OF THESE BREACHES

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