Banking, Insurance, Life Insurance, Health Insurance and Superannuation (prudential standard) determination No. 1 of 2023
Capabilities, monitoring and executionCapabilities, monitoring and execution
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Capabilities, monitoring and execution
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An APRA-regulated entity must maintain the capabilities required to execute the recovery and exit plan.[12]
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An APRA-regulated entity must take reasonable preparatory steps to support the timely and effective implementation of the recovery and exit plan, in advance of recovery or exit actions being required. This must take into consideration potential legal, financial, operational and structural requirements for executing recovery or exit actions.
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An APRA-regulated entity must maintain access to sufficient financial resources to support the implementation of recovery and exit actions included in the recovery and exit plan.
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An APRA-regulated entity must regularly monitor the indicators of stress that would be used to trigger activation of the recovery and exit plan or the specific actions within it.