Business
APRA slashes CBA capital requirement by $500m – Sydney Morning Herald
The Australian Prudential Regulation Authority has acknowledged CBA’s “significant progress” in improving its culture and governance.
APRA said the report indicated CBA has made “significant progress” in areas such as management and compliance, remuneration and risk culture although there remained a long way to go.
“A substantial body of work is needed to ensure the improvements are fully embedded across the whole CBA Group,” APRA said.
The remaining $500 million capital requirement will remain in place until CBA addresses all of Promontory’s recommendations.
CBA chief Matt Comyn welcomed the regulator’s acknowledgement of the…
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