APRA orders NAB, Westpac and ANZ to put aside additional capital

National Australia Bank (ASX:NAB) today noted the Australian Prudential Regulation Authority (APRA) announcement applying additional capital requirements to them and Westpac (ASX:WBC) and ANZ (ASX:ANZ) in response to risk governance self-assessments.

APRA will require each bank to hold additional $500 million of operational risk capital.

This is due to problems with their governance and culture.

APRA noted that “the capital add-ons will apply until the banks have completed their planned remediation to strengthen risk management, and closed gaps identified in their self-assessments.”

Shares in National Australia Bank (ASX:NAB) are trading 0.07 per cent lower at $26.84.


Source link Finance News Australia

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