Apra doesn’t like banks, and Apra doesn’t care
The Australian regulator has been flexing its muscles. With the country not as dependent as many others on its banking system for GDP, it can afford to crack the whip a little more. But its latest ruling on liquidity regulation might have gone too far.
Apra, the Australian regulator, this week showed all those namby-pamby Poms exactly what muscular banking regulation looks like. It told Australian banks exactly what they could hold for liquidity purposes under Basel III and it isn't much.
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