In May 2018, APRA applied 1 billion capital add-on to Commonwealth Bank in response to the money laundering scandals. In July 2019, APRA required Westpac, NAB and ANX to set aside extra 1.5 billion in capital until they finished refunding customers for their misconduct behaviours.
News Source: https://www.apra.gov.au/media-centre/media-releases/apra-releases-cba-prudential-inquiry-final-report-accepts-eu
Project Goals (Questions)
directly affected Finanical Institutions:
11)Which banks/financial institutions are supposed to be directly affected under the new rule?
12)For the directly affected institutions, is the new rule inline with their profit maximization motive or not?
13)For the directly affected institutions, what are their response? Or how do you think they will respond to the policy change?
14)Is there any conflict of interest created by the new rules between the management and the shareholders?
10)What are the consequences of not following the new policy regime?
individuals that will be directly affected
19)Who are the individuals that will be directly affected by the policy change?
20)For the directly affected individuals, is the new rule in favour of their self-interest or not?
indirectly affected by the policy change
21)Which sectors will be indirectly affected by the policy change? Is therea positive spill-over effect or a negative spill-over effect?
22)Are there any other side effects associated with the policy change?
Micro:
23)Is there any regional or global impact of the policy change?