Australian Prudential Standard APS 115 Capital Adequacy: Advanced Measurement Approaches to Operational Risk
Abstract:In November 2007, Australia instituted the Australian Prudential Standard, APS 115 Capital Adequacy: Advanced Measurement Approaches to Operational Risk, under the Banking Act. This standard sets out the requirements that an authorized deposit-taking institution (that has approval to use an advanced measurement approach to operational risk) must meet both at the time of initial implementation and on an ongoing basis for regulatory capital purposes.
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