March 23, 2020 / 12:59 AM / 14 days ago

BRIEF-Australia prudential regulator says suspends planned policy initiatives due to coronavirus

March 23 (Reuters) -

* AUSTRALIA PRUDENTIAL REGULATOR SAYS HAS SUSPENDED THE MAJORITY OF ITS PLANNED POLICY AND SUPERVISION INITIATIVES IN RESPONSE TO THE IMPACT OF COVID-19

* AUSTRALIA PRUDENTIAL REGULATOR SAYS DECISION INTENDED TO ALLOW APRA-REGULATED ENTITIES TO DEDICATE TIME AND RESOURCES TO MAINTAINING THEIR OPERATIONS AND SUPPORTING CUSTOMERS

* AUSTRALIA PRUDENTIAL REGULATOR SAYS DECISION TO ENABLE APRA TO INTENSIFY FOCUS ON MONITORING AND RESPONDING TO THE IMPACT OF “A RAPIDLY CHANGING ENVIRONMENT” ON ENTITIES’ FINANCIAL, OPERATIONAL CAPACITY

* AUSTRALIA PRUDENTIAL REGULATOR SAYS SUSPENDING ALL SUBSTANTIVE PUBLIC CONSULTATIONS AND ACTIONS TO FINALISE REVISIONS TO THE PRUDENTIAL FRAMEWORK THAT ARE CURRENTLY UNDERWAY OR UPCOMING

* AUSTRALIA PRUDENTIAL REGULATOR SAYS WILL KEEP THE SITUATION UNDER REVIEW

* AUSTRALIA PRUDENTIAL REGULATOR SAYS PRESENTLY DOES NOT PLAN TO RECOMMENCE CONSULTATION ON ANY NON-ESSENTIAL MATTERS BEFORE 30 SEPTEMBER 2020

* AUSTRALIA PRUDENTIAL REGULATOR SAYS OVER THE PERIOD AHEAD, APRA’S PRIMARY SUPERVISION FOCUS WILL BE ON MONITORING THE IMPACT OF COVID-19 ON BANKS’ FINANCIAL AND OPERATIONAL CAPACITY

* AUSTRALIA PRUDENTIAL REGULATOR SAYS APRA’S SUPERVISION PRIORITIES OUTLINED IN JANUARY 2020 WILL BE LARGELY SUSPENDED UNTIL AT LEAST 30 SEPTEMBER (Reporting By Swati Pandey)

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