Business
CBA (ASX:CBA) share price in focus after APRA Remedial Action Plan update
The Commonwealth Bank of Australia (ASX: CBA) share price will be on watch today after the release of a positive update this morning.
What did CBA announce?
This morning Australia’s largest bank revealed that APRA has completed the review into the progress it has made against the Prudential Inquiry Remedial Action Plan and made a decision in relation to the bank’s operational risk capital as part of the Enforceable Undertaking.
According to the release, APRA’s validation review found that Commonwealth Bank has made significant progress in implementing its Remedial Action Plan.
As a result, the operational risk overlay imposed on the bank has now been reduced from $1 billion to $500 million with immediate effect.
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