An Overview of APRA
This post will help you in your understanding of the Australian Prudential Regulation Authority (APRA), for your Prelim Economics syllabus. APRA is responsible for supervising institutions across banking, insurance and superannuation, as is accountable to the Australian Federal Parliament. It oversees:
- Authorised deposit-taking institutions (banks, credit unions and building societies, for example);
- Insurance companies; and
- Superannuation funds.
The video below explains APRA and its role in more detail: