Apra suspends bank licence issuance

Photo: Alex Towle

Australia’s prudential regulator has suspended the issuance of new bank licences for a period of six months in response to uncertainty created by Covid-19.

The Australian Prudential Regulatory Authority has written to applicants for new banking or insurance and superannuation licences to notify them of the delay.

“Apra will temporarily suspend the issuance of new Apra licences, except in the rare case that the granting of a licence is necessary for Apra to carry out its mandate,” the regulator

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