Last week, the Australian Prudential Regulation Authority (APRA) announced that it had increased the operational risk capital add-on applied to ANZ to A$750 million, in response to persistent problems with the bank's non-financial risk management capabilities.
"ANZ is financially sound with strong capital and liquidity levels," said APRA Chair John Lonsdale. “However, weaknesses in managing non-financial risk can lead to detrimental financial impacts and APRA has no tolerance for such weaknesses persisting.”
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