ANZ hit with $1b capital charge, forced to undertake review
I was forced to undertake a widespread review in its entire organization after the financial regulator has reported the issues deriving from the scandal of bonds “can be present in other parts of the bank”.
The Australian Prudential Regulation Authority on Thursday morning announced that he had entered into an afflicted feat from the court with Eda and asked the Bank to hold $ 1 billion of capital until he cleaned up his longtime cultural problems.
The politicians criticized the changes, with the political pressure on the sector to a fever field while consumers bend under the cost of life and the highest interest rates for a decade. Credit: Peter Rae
“Aprra has seen how much the weaknesses of non -financial risk management for some time have manifested themselves in material prudential issues in some banks between the same”, said the president of Apera John Linsdale.
“We have observed some weaknesses similar to ESA and require that they are faced as a priority.”
The August regulator requested that instead launch an independent revision in the causes of the root of governance issues in the market unit and develop a repair plan in response to the results.
This revision, that the Board of Directors of FEA is preparing to issue, identified the causes of the root that contributed to the “emergency and persistence of the governance deficiencies of the risk” in the division of the markets and can be present in other parts of the bank, said Apra.
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Instead it was subjected to greater control over a Suite of corporate government problemsIncluding the role of the bank in a sale of government bonds of 14 billion dollars in April 2023, which was investigated by the company regulator.
Separately, the bank admitted that its unit of the markets swelling the commercial data of bonds to the federal government, which was the subject of the revision requested by the APRA, and an investigation into the work complaints found that the traders in Sydney’s business room were bruised during working hours.
