APRA has published a new Corporate Plan which sets out how it plans to enhance the resilience of the Australian financial system
- Published: Tuesday, 31 August 2021 07:53
The Australian Prudential Regulation Authority (APRA) has published an updated Corporate Plan outlining how it intends to manage the resilience of the Australian financial system over the next four years. The Corporate Plan for 2021-25 is based around the strategic theme of ‘protected today, prepared for tomorrow’.
APRA will continue to direct the majority of time and resources to its core role of preserving the financial and operational resilience of Australia’s banks, insurers and superannuation funds.
APRA will do this by:
- Targeting supervisory activities to those issues of greatest risk;
- Modernising the prudential architecture to ensure it remains fit for purpose; and
- Driving greater data-driven decision-making.
In addition to strengthening the resilience of the entities it regulates, the Corporate Plan also outlines APRA’s goal of enhancing its own performance.