NEW STATEMENTS OF EXPECTATIONS FOR APRA AND ASIC TO FOCUS MORE ON GROWTH

CANBERRA, ACT, July 16 -- The Treasurer of Australia issued the following media release:

The Albanese Government is today releasing new Statements of Expectations for the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC).

In both Statements there's now a bigger emphasis on promoting growth.

This is all about enabling our financial regulators to unlock more productivity and more growth in our economy.

These statements will ensure our financial regulators can help support productivity, unlock investment and grow our economy while preserving financial stability and market integrity and protecting consumers from harm.

We're striking the right balance between supporting product...