Fund Regulatory Updates

APRA acts against Bendigo and Adelaide Bank on liquidity

The Australian Prudential Regulation Authority (APRA) has increased the minimum liquidity requirement of Bendigo and Adelaide Bank after the bank failed to comply with APRA’s authorised deposit-taking institution liquidity standards. The breaches are historical, with current liquidity requirements being well met. The breaches are from September and relate to incorrectly coded classifications for some retail deposits. The deposits do not impact the overall soundness of Bendigo and Adelaide Bank’s current liquidity position.