APRA to oversee review of Macquarie’s non-bank capital requirements
The Australian Prudential Regulation Authority said on November 6 it would oversee a comprehensive assessment of how Macquarie determines capital requirements for its non-bank businesses after identifying a capital miscalculation. APRA said a $100 million governance overlay had been added to existing capital requirements and that it may consider further action. Outgoing CEO Shemara Wikramanayake said the bank had self-imposed the increase.