Australia's banking regulator said on Wednesday it has forced Macquarie Gro...
) to tighten funding arrangements in Australia, saying they had been in breach of reporting requirements.
“APRA is requiring these banks to strengthen intra-group agreements to ensure term funding cannot be withdrawn in a financial stress scenario,” APRA said, because such arrangements could undermine the strength of the Australian entities. APRA said there was no immediate threat to the stability of the three lenders it targeted in Australia.
“However, to ensure they would be able to withstand a scenario of financial stress, group funding agreements for Australian banks must be watertight.”
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