The Westpac Group (ASX:WBC) hit with operational risk capital requirement of $500m

Company News

by Rachael Jones

The Westpac Group (ASX:WBC) released an announcement today saying they acknowledge APRA’s request to increase its operational capital requirement to $500 million.

This is in response to the Australian Transaction Reports and Analysis Centre’s Statement of Claim.

The bank say they are committed to cooperating with APRA in all aspects of its investigation and review.

Shares in the Westpac Group (ASX:WBC) are trading 0.64 per cent lower at $24.69.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.