Document ID: chunk:federal_register_of_legislation:F2024L01073:front:0:p2
Version: federal_register_of_legislation:F2024L01073
Segment Type: other
Provision Reference: 
Character Range: 2982–6087

ADIs; and
         2.           purchased payment facility providers.
 2.              A reference to an ADI in this Prudential Standard, unless otherwise indicated, is a reference to:
         1.           an ADI on a Level 1 basis; and
         2.           a group of which an ADI is a member on a Level 2 basis.
 3.              If an ADI to which this Prudential Standard applies is:
         1.           the holding company for a group, the ADI must ensure that the requirements in this Prudential Standard are met on a Level 2 basis, where applicable; or
         2.           a subsidiary of an authorised non-operating holding company (authorised NOHC), the authorised NOHC must ensure that the requirements in this Prudential Standard are met on a Level 2 basis, where applicable.
 4.              This Prudential Standard commences on 30 September 2024.

Interpretation
 1.              Terms that are defined in Prudential Standard APS 001 Definitions or Prudential Standard CPS 001 Defined terms appear in bold the first time they are used in this Prudential Standard.
 2.              Where this Prudential Standard provides for APRA to exercise a power or discretion, the power or discretion is to be exercised in writing.
 3.              In this Prudential Standard, unless the contrary intention appears, a reference to an Act, Regulations or Prudential Standard is a reference to the Act, Regulations or Prudential Standard as in force from time to time.

Adjustments and exclusions
 1.              APRA may adjust or exclude a specific prudential requirement in this Prudential Standard in relation to one or more specified ADIs or authorised NOHCs.[1]

Previous exercise of discretion
 1.          An exercise of APRA's discretion (such as an approval, waiver or direction) under a previous version of this Prudential Standard continues to have effect as though exercised pursuant to a corresponding power (if any) exercisable by APRA under this Prudential Standard.

Scope
 1.          The following items are excluded from the scope of this Prudential Standard:
         1.           assets or investments that are required to be deducted from Common Equity Tier 1 Capital, Tier 1 Capital, or Total Capital under Prudential Standard APS 111 Capital Adequacy: Measurement of Capital (APS 111);
         2.           securitisation exposures that are subject to the requirements of Prudential Standard APS 120 Securitisation (APS 120), excluding funding-only or synthetic securitisations for which an ADI must include the underlying exposures in the pool in its calculation of the Regulatory Capital requirement for credit risk under this Prudential Standard;
         3.           liabilities of a covered bond special purpose vehicle to an issuing ADI as specified in Prudential Standard APS 121 Covered Bonds; and
         4.           items that are subject to capital requirements under Prudential Standard APS 116 Capital Adequacy: Market Risk that do not have counterparty credit risk exposure under Prudential Standard APS 180 Capital Adequacy: Counterparty Credit Risk (APS