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APRA releases information paper on BEAR implementation at three large ADIs
The Australian Prudential Regulation Authority (APRA) has released an information paper detailing the findings from its review of the implementation of the Banking Executive Accountability Regime (BEAR) by three of Australia’s largest authorised deposit-taking institutions (ADIs).
APRA completed its implementation review of the BEAR at Australia and New Zealand Banking Group Limited (ANZ), Commonwealth Bank of Australia (CBA) and National Australia Bank (NAB) in February 2020. Westpac Banking Corporation was not included due to an ongoing investigation into potential breaches of the Banking Act 1959.
APRA’s review found that all three of the large ADIs had designed adequate frameworks to implement the BEAR and that this has helped to deliver:
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