Capital error in Murray inquiry: banks

By Staff Reporter

However, Australian Bankers’ Association chief executive Steven Munchenberg said the finding surprised the industry, with the different measurements from around the world making a simple comparison challenging. “The approach was simplified and didn’t take into account the complexities and nuances of how capital is determined in Australia, including deductions required by APRA and some of the areas where APRA has adopted a more conservative approach, and as a result underestimated the amount of capital in Australia relative to overseas,” Mr Munchenberg told the AFR.

Read more here: Business Spectator


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