ANZ to Address Risk Management Weaknesses with New Court Enforceable Undertaking
It’s been a long time coming, but the Australian Prudential Regulation Authority (APRA) has finally taken a step in holding Australia and New Zealand Banking Group (ANZ) accountable for its ongoing struggles with non-financial risk management. APRA has accepted a Court Enforceable Undertaking (CEU) from the bank and increased its capital add-on to $1 billion.