SYDNEY, July 11 (Reuters) - Australia's prudential regulator said on Thursday it has told three of the country's biggest banks to set aside an additional A$500 million ($348 million) each until they have strengthened risk management and reimbursed customers wrongly charged fees.
The Australian Prudential Regulation Authority (APRA) said it wrote to Westpac Banking Corp (WBC) , Australia and New Zealand Banking Group Ltd (ANZ) and National Australia Bank Ltd (NAB) to tell them of additional capital requirements.
"Australia's major banks are well-capitalised and financially sound, but improvements in the management of non-financial risks are needed," APRA Chair Wayne Byres said in a statement.
($1 = 1.4364 Australian dollars)
News: NAB Australian bank regulator tells Westpac, ANZ, NAB to set aside another $350 mln
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