SYDNEY—Australia’s bank regulator said on Nov. 8 it wants to raise the amount of spare cash banks carry to withstand any future financial shock, its third request in three years, heaping pressure on companies already bracing for tightened regulation.
The Australian Prudential Regulation Authority (APRA) wants the country’s four biggest lenders to raise their available capital by four to five percentage points by 2023, from the current 14.5 percent, according to a discussion paper it released on its website.
