Australian Prudential Regulatory Authority (APRA)

APRA stands for the Australian Prudential Regulation Authority. It is an independent statutory authority that was established in 1998 to promote financial system stability in Australia. APRA's mandate is to protect the Australian community by ensuring that, under all reasonable circumstances, financial promises made by institutions it supervises are met within a stable, efficient and competitive financial system.

APRA supervises a wide range of financial institutions, including banks, credit unions, building societies, general and life insurance and reinsurance companies, private health insurance, friendly societies, and most members of the superannuation industry. APRA's supervision activities include:

- Setting prudential standards and practices
- Conducting regular inspections
- Responding to emerging risks
- Promoting sound corporate governance

APRA's work is essential to maintaining a stable and efficient financial system in Australia. By ensuring that financial institutions are well-managed and have adequate capital, APRA helps to protect the Australian community from financial shocks.