trending Market Intelligence /marketintelligence/en/news-insights/trending/299e6B1qThGDVC1Ww4QHYg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Fitch says Australia regulator's actions against Westpac are credit negative

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


Fitch says Australia regulator's actions against Westpac are credit negative

Fitch Ratings regards the Australian banking regulator's investigation into and new capital requirements for Westpac Banking Corp. as credit negative.

The Australian Prudential Regulation Authority, or APRA, launched an inquiry into Westpac after the Australian Transaction Reports and Analysis Centre, or AUSTRAC, filed a suit against the lender for allegedly breaching anti-money laundering and counterterrorism financing laws on more than 23 million instances. APRA will also require the bank to increase its capital requirement add-ons to A$1 billion.

Fitch believes APRA's actions will further challenge the bank, but will ultimately place the bank in a better position to address evolving industry risks. Westpac may face further remediation and increased costs if APRA's findings are adverse, Fitch added.

Although Westpac expects the capital charge to trim its common equity Tier 1 ratio by 16 basis points, Fitch does not believe this will affect the bank's ability to meet APRA's minimum requirement of 10.5%.