Australia's prudential regulator will phase out Additional Tier 1 (AT1) hybrid bonds over the next eight years, citing their ineffectiveness in absorbing losses during crises. The Australian Prudential Regulation Authority (APRA) aims to replace these with more reliable capital forms, responding to recent global banking turmoil. Changes to prudential standards are expected to be finalized by the end of 2025, with implementation set for January 1, 2027.
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