Macquarie sanctioned by Apra over regulatory breaches : vima

Macquarie sanctioned by Apra over regulatory breaches


By Frank Jackman
11.30 AM
The Australian Prudential Regulation Authority (Apra) hit Macquarie Bank with a A$500m ($378.4m) capital charge on Thursday, having uncovered serious faults in the firm's risk management practices. The announcement came a day after the bank paused its return to the sterling bond market.
The Australian regulator said that it had increased Macquarie’s liquidity and operational risk capital requirements in response to multiple breaches of prudential and reporting standards.“The enforcement action relates to the incorrect treatment of specific intra-group funding arrangements for the purposes of calculating capital and related entity exposure
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