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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Cryptocurrencies

Cryptocurrencies

Australia regulator requests startup, crypto risk disclosures from banks

Photo Credit: Dado Ruvic Photo Credit: Dado Ruvic
Photo Credit: Dado Ruvic Photo Credit: Dado Ruvic

According to the Australian Financial Review, Australia’s prudential regulator is requesting banks disclose their exposure to startups and crypto-focused enterprises after Silicon Valley Bank’s bankruptcy (AFR).

The Australian Prudential Regulatory Authority (APRA) advised banks to disclose crypto assets daily to understand risks better, the AFR reported late Tuesday, citing three unnamed sources.

The APRA did not comment on the story but alluded to its declaration last week that it will tighten local banking industry regulation and seek more information on Silicon Valley Bank’s collapse.

ANZ Group Holdings (ANZ.AX), Commonwealth Bank of Australia (CBA.AX), Westpac Banking Corp (WBC.AX), and National Australia Bank (NAB.AX) did not respond to requests for comment.

Investors worried about financial contagion caused by Credit Suisse’s 10-day financial crisis after the collapse of Silicon Valley Bank and Signature Bank.

Last week, Treasurer Jim Chalmers said Australia’s well-capitalized, well-regulated, and liquid banks could weather market upheaval.


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