Australian Prudential Regulation Authority
- Outcomes and output groups
- Changes to outcomes and outputs
- Outcome 1 - Description
- Outcome 1 - Resourcing
- Outcome 1 - Contribution of outputs
- Performance information for Outcome 1
- Evaluations
Section 2: Outcomes and outputs information
Outcomes and output groups
The map below shows the relationship between Government outcomes and the contributing outputs for the Australian Prudential Regulation Authority (APRA). Financial detail for Outcome 1 by output appears in Table 2.1 while non-financial information for Outcome 1 appears in Table 2.2.
Map 2: Outcomes and output groups
Changes to outcomes and outputs
There are no proposed changes to the outcome or outputs since the previous year.
Outcome 1 - Description
To enhance public confidence in Australia's financial institutions through a framework of prudential regulation which balances financial safety, efficiency, competition, contestability and competitive neutrality.
Measures affecting Outcome 1
Authorised deposit-taking institutions and insurance cost recovery
The Government will provide the Australian Prudential Regulation Authority (APRA) with additional funding of $12 million for the prudential regulation of authorised deposit-taking institutions and insurance. This funding will allow APRA to undertake additional work necessary to allow more intense supervision of conglomerate groups and to improve APRA's ability to analyse operational risk, liability valuation and insurance risk.
APRA's costs will be recovered from industry.
See also the related revenue measure titled Authorised deposit-taking institutions and insurance cost recovery in the Treasury portfolio in Budget Paper No. 2.
Outcome 1 - Resourcing
Table 2.1 shows how the 2002-03 appropriations translate to total resourcing for Outcome 1, including revenue from government (appropriation), revenue from other sources, and the total price of outputs.
Table 2.1: Total resources for Outcome 1 ($'000)
(1) C1 and E1 show the links back to Table 1.1.
Outcome 1 - Contribution of outputs
The outputs of APRA aim to enhance public confidence in Australia's financial institutions through a framework of prudential regulation which balances financial safety and efficiency, competition, contestability and competitive neutrality.
The outputs involve formulation and promulgation of prudential policy and practice to be observed by regulated institutions; effective surveillance and compliance programmes and, where relevant, remediation or enforcement measures, to give effect to the laws administered by APRA and to standards issued under those laws; and advice to Government on the development of regulation and legislation affecting regulated institutions and the financial markets in which they operate.
Performance information for Outcome 1
Table 2.2: Performance information for Outcome 1
Table 2.2: Performance information for Outcome 1 (continued)
Evaluations
Feedback will be sought from key clients on a regular basis on the effectiveness of policy and prudential advice.
The performance of surveillance programmes is evaluated through industry consultation on a periodic basis.
