(Updates with background throughout, adds comments from Westpac, regulator)
July 19 (Reuters) - An Australian regulator announced on Friday a reduction of A$500 million in the A$1 billion ($670.50 million) capital add-on it had imposed on Westpac (WBC) in 2019 after identifying higher operational risk in the bank's risk governance self-assessment.
In July 2019, the country's prudential regulator had asked Westpac, ANZ Group (ANZ) and National Australia Bank (NAB) to set aside an additional A$500 million each until they strengthen their risk management and reimburse customers for wrongly charged fees.
The regulator then
imposed
an additional A$500 million capital add-on on Westpac in December 2019 to reflect the bank's heightened operational risk profile, primarily due to risk governance concerns.
In mid-March, the country's prudential regulator
removed
the A$500 million imposed on NAB.
Westpac said the reduction will boost its common equity tier 1 (CET1) capital ratio by 18 basis points.
"The remaining A$500 million capital add-on will remain in place until Westpac completes its transition work," the regulator added. ($1 = 1.4914 Australian dollars)
- Forums
- ASX - By Stock
- News: ANZ UPDATE 1-Australia regulator reduces Westpac's operational capital add-on requirement by...
(Updates with background throughout, adds comments from...
Featured News
Add ANZ (ASX) to my watchlist
|
|||||
Last
$29.56 |
Change
-0.035(0.12%) |
Mkt cap ! $88.51B |
Open | High | Low | Value | Volume |
$29.50 | $29.67 | $29.41 | $27.75M | 938.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 556 | $29.55 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$29.56 | 3778 | 15 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 2510 | 29.540 |
16 | 11030 | 29.530 |
11 | 6066 | 29.520 |
7 | 3539 | 29.510 |
8 | 5064 | 29.500 |
Price($) | Vol. | No. |
---|---|---|
29.550 | 662 | 7 |
29.560 | 5611 | 16 |
29.570 | 6247 | 12 |
29.580 | 4171 | 15 |
29.590 | 3409 | 8 |
Last trade - 12.22pm 19/08/2024 (20 minute delay) ? |
Featured News
ANZ (ASX) Chart |