APRA Responds to Emerging Risks In 2023-24 Corporate Plan
 
The Australian Prudential Regulation Authority (APRA) has unveiled its latest Corporate Plan designed to preserve the soundness and stability of the banking, insurance and superannuation industries.

The 2023-24 Corporate Plan outlines an evolution in APRA's priorities for the coming four years in response to new and developing risks impacting the global financial system.

Among the considerations shaping the updated approach are rising interest rates and high inflation, geopolitical instability, the growing threat of cyber-attacks and scams, and the increased frequency of natural disasters.

APRA has also responded to lessons learned from the collapse of Silicon Valley Bank and the takeover of Credit Suisse in March this year, as well as the findings of the Financial Regulator Assessment Authority’s report on APRA's approach to supervising the superannuation industry.