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ARTICLE · 26 NOVEMBER 2012

APRA's welcome transitional relief to Basel III counterparty credit risk measures implementation

Clayton Utz
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ADIs can now prepare counterparty credit risk capital calculations on a "best endeavours" basis until 1 July 2013.

AustraliaFinance and Banking
Louise McCoach
Louise McCoach
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Key Points:

The updated implementation timeframe will permit ADIs to prepare counterparty credit risk capital calculations on a "best endeavours" basis until their first annual reporting period beginning on or after 1 July 2013.

On 13 November 2012, the Australian Prudential Regulation Authority (APRA) published a paper (Response Paper) setting out its response to industry submissions on an earlier APRA discussion paper released in August 2012, Implementing Basel III capital reforms in Australia — counterparty credit risk and other measures.

APRA released with the paper a package of final prudential and reporting standards and guidance which will implement the Basel III capital reforms for Authorised Deposit-taking Institutions (ADIs) in Australia with effect from 1 January 2013.

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