The Australian Prudential Regulation Authority has imposed licence conditions and increased capital and liquidity requirements on ING Bank Australia Limited after material miscalculations significantly overstated the bank’s Liquidity Coverage Ratio over several years. While ING Australia reported ratios of about 160%, its actual ratio was substantially lower and at times fell below the 100% regulatory minimum. The licence conditions require independent reviews of the reporting failures and the bank’s broader risk management and governance practices, followed by a comprehensive remediation plan and independent assurance that corrective actions are effective and embedded. APRA also raised the bank’s minimum liquidity requirements and imposed an AUD 50 million operational risk capital add-on to address heightened operational risk and potential broader weaknesses in prudential reporting. The conditions and additional capital and liquidity requirements will remain in place until ING Australia completes the required remediation to APRA’s satisfaction. The bank has already increased its liquidity position to well above the regulatory minimum.
2026-09-03Australian Prudential Regulation Authority
Australian Prudential Regulation Authority imposes licence conditions, higher liquidity requirements and AUD 50 million capital add-on on ING Australia
The Australian Prudential Regulation Authority imposed licence conditions, higher liquidity requirements and an AUD 50 million capital add-on on ING Australia after reporting errors overstated its Liquidity Coverage Ratio. The bank’s actual ratio at times fell below the 100% minimum. The measures will remain until independent reviews and remediation are completed to APRA’s satisfaction.