The Australian Prudential Regulation Authority (APRA) has finalised the new cross-industry Prudential Standard CPS 001 Defined terms (CPS 001). The new standard consolidates all existing standards on definitions for authorised deposit-taking institutions and general, life and private health insurers.
In a letter released today, APRA sets out its response to submissions to the November 2023 consultation on CPS 001 and issues the final revised CPS 001. The final CPS 001 will be effective from 1 October 2024.
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