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Banking (prudential standard) determination No. 3 of 2008 - Prudential Standard APS 222 - Associations with Related Entities
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Turn the raw legal text into a practical explanation grounded in Banking (prudential standard) determination No. 3 of 2008 - Prudential Standard APS 222 - Associations with Related Entities.
This Prudential Standard aims to ensure that authorised deposit-taking institutions give due consideration to the risks associated with the corporate group of which they are a member and are not exposed to excessive risk as a result of their associations and dealings with related entities.
The key requirements of this Prudential Standard are that an authorised deposit-taking institution must:
monitor potential contagion risk between the institution and other members of a conglomerate group of which the institution is a part;
meet minimum requirements with respect to group risk management, dealings with related entities and certain related matters; and
adhere to prudential limits on intra-group exposures.