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APRA removes liquidity overlay for BEN

9 August 2023 |Announcements

APRA has today announced the removal of a 10 percent overlay to the net cash outflow component of the Liquidity Coverage Ratio (LCR) calculation for Bendigo and Adelaide Bank Limited (ASX:BEN).

The overlay was imposed by APRA on 21 October 2020 in response to the Bank's identification of a historic error impacting the Bank's compliance with APS 210. APRA has confirmed the Bank has satisfactorily addressed the condition for removal of the overlay. 

The change is effective from 9 August 2023. The Bank expects that the removal of the overlay will contribute approximately 12 to 14 percent to its LCR.

Approved for release by:

Marnie Baker, Chief Executive Office and Managing Director

Bendigo & Adelaide Bank Limited

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Bendigo and Adelaide Bank acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of this nation and the Traditional Custodians of the land where we live, learn and work. We pay our respects to Elders past and present as it is their knowledge and experience that holds the key to the success of future generations.

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