Australia's Prudential Regulation Authority ( APRAinfo ) has told banks to declare their exposure to startups and crypto-related business in the wake of recent collapses of crypto-friendly banks, the Australian Financial Review reported. By amitoj
The is an independent authority accountable to the Australian Parliament and is concerned with maintaining the safety and soundness of financial institutions to protect the interests of depositors and other stakeholders.
The APRA has"begun asking banks to declare their exposures – in some cases daily – to start-ups and crypto-focused ventures," AFR cited the sources as saying. The banks have also been told to"improve their reporting around crypto assets" as the APRA seeks to gain more insight into exposures and vulnerabilities in the system in the wake of theWhen contacted by CoinDesk, APRA referred to its statement last week that the regulator is intensifying supervision of the local banking industry and is seeking more information from them on any potential impacts.
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