The Australian Prudential Regulation Authority (APRA) has granted IN1Bank Ltd a second extension of its licence to operate for a limited time as a restricted authorised deposit-taking institution (Restricted ADI) under the Banking Act 1959.
Recognising the unique circumstances of IN1Bank’s application, APRA judged that a further short extension was warranted. APRA does not view this decision as setting a precedent for other future Restricted ADIs. APRA will consider any possible extension of another Restricted ADI’s licence on its own merits as the need arises.
An updated list of all APRA-authorised ADIs can be found on the APRA website at: Register of authorised deposit-taking institutions.
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