Question

The Banking Executive Accountability Regime is overseen by which body?

a) Reserve Bank of Australia
b) Australian Securities Exchange (ASX)
c) Australian Financial Security Authority (AFSA)
d) Australian Prudential Regulation Authority (APRA)

Answer 1

The Banking Executive Accountability Regime is overseen by the Australian Prudential Regulation Authority (APRA), which is tasked with ensuring the stability of the financial system in Australia.

Step-by-step explanation:

The Banking Executive Accountability Regime is overseen by the Australian Prudential Regulation Authority (APRA). APRA is an independent statutory authority that supervises institutions across banking, insurance, and superannuation and is tasked with promoting financial system stability in Australia. Its role is similar to that of other central banks and regulatory bodies around the world, such as the Federal Reserve in the United States, which is responsible for monetary policy and ensuring the smooth operation of the financial system.