ANZ Bank has been hit with an extra $250 million capital charge, increasing its balance sheet impost to $750 million, after the prudential regulator identified persistent concerns about its risk management stemming from an escalating bond trading scandal.
The Australian Prudential Regulation Authority penalty, and stern warning to the ANZ board, come as the bank faces a regulatory probe into alleged market manipulation of the government bond rate while admitting to providing incorrect information to the government’s debt agency.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
