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APRA grants Revolut an ADI licence — a reminder that prudential entry standards still matter

APRA
APRA has granted an authorised deposit-taking institution (ADI) licence to Revolut. This is a substantive licensing decision and a current prudential development for boards, risk teams and governance functions watching new entrants into the banking…

APRA’s section 66 exemption update is a governance check for banks, not just a legal footnote

APRA

APRA has finalised changes to Banking Act 1959 section 66 instruments — remaking one restricted-word determination and letting two others sunset — while a broader exemption for foreign bank holding companies stays under review into 2026. Paired with AFCA’s new naming rule for non-compliant firms and the UK PRA’s stricter waiver-by-application regime, it is a reminder that exemptions are governance assets, not legal footnotes.

Regulatory Growth Objective: A New Approach

APRA
Treasurer Jim Chalmers's new Statement of Expectations tells APRA and ASIC to back growth, not just guard against risk. The UK gave its regulators the same mandate in 2023 — and a 2025 Lords inquiry found it hadn't shifted the culture at all. Here's what Australian boards should watch for.

APRA’s CPS 230 Tweaks: Small Amendment, Big Governance Signal

APRA
APRA has released final targeted amendments to CPS 230 Operational Risk Management. The item is current and sits within APRA’s prudential framework, so boards and risk teams should treat it as a live governance and…

Everyone Passed. That’s Not the Point.

APRA
APRA's inaugural System Risk Stress Test found four major banks and six super funds individually resilient, but exposed concentration risk and a super-fund liquidity mechanism that could amplify a system-wide shock.

APRA finalises reinsurance framework changes

APRA
APRA's finalised reinsurance framework eases access to catastrophe bonds and shifts capital-treatment decisions to the appointed actuary, changing what boards need to evidence before the 1 January 2027 start date.
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