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Status: Open to submissions
6 December 2022

Strengthening crisis preparedness

APRA is consulting on new prudential standards to strengthen the preparedness of banks, insurers and superannuation trustees to respond to future financial crises.

September 2022

 

On 6 September 2022, APRA released for consultation draft guidance on financial contingency and resolution planning. 

Prudential Practice Guides CPG 190 Financial Contingency Planning and CPG 900 Resolution Planning set out principles and examples of better practice to assist entities in meeting their requirements under the proposed new prudential standards, CPS 190 Financial Contingency Planning and CPS 900 Resolution Planning. 

Written submissions are requested by 6 December 2022. 

The letter to industry and draft guidance can be found below: 

Media release: APRA consults on guidance for financial contingency and resolution planning.

Letter

Consultation on draft guidance for financial contingency and resolution planning

Prudential Practice Guides

Published 6 September 2022
Published 6 September 2022
Published 6 September 2022
Published 6 September 2022

December 2021

 

On 2 December 2021, APRA released for consultation a discussion paper and two draft prudential standards to strengthen crisis preparedness across banks, insurers and superannuation trustees. 

Draft Prudential Standard CPS 190 Financial Contingency Planning introduces requirements for all APRA-regulated entities to develop contingency plans to respond to financial stress by either recovering their financial resilience or exiting APRA-regulated activities in an orderly manner.

Draft Prudential Standard CPS 900 Resolution Planning requires large or complex entities, or those that provide critical functions to the economy, to be prepared for resolution to minimise the impact on the community and the financial system. 

Written submissions are requested by 29 April 2022. 

The discussion paper and draft prudential standards can be found below:

Discussion paper

Published 2 December 2021

Draft prudential standards

Published 2 December 2021

Published 2 December 2021

Note on submissions

It is APRA's policy to publish all submissions on the APRA website unless the respondent specifically tells APRA in writing that all or part of the submission is to remain confidential. An automatically generated confidentiality statement in an email does not satisfy this purpose. If you would like only part of your submission to be confidential, you should provide this information marked as 'confidential' in a separate attachment.