The Australian Prudential and Regulation Authority notes the release today of the review of the Reserve Bank of Australia (RBA) and the responses by the Government and RBA.
APRA welcomes the recommendations of the report that relate to APRA.
APRA notes recommendation 6 is directed towards reinforcing cooperation arrangements for promoting financial stability. This includes refreshing memorandums of understanding to provide greater public clarity regarding Council of Financial Regulator (CFR) agency roles and introducing greater formality to macroprudential policy cooperation arrangements.
APRA confirms it will work closely with the RBA and other CFR agencies to implement relevant recommendations, in line with the implementation roadmap to be published by the RBA.
