APRA’s proposal to remake Prudential Standard APS 910 Financial Claims Scheme

In August 2023, we responded to the Australian Prudential Regulation Authority’s (APRA’s) consultation on remaking Prudential Standard APS 910 Financial Claims Scheme.

In our submission, we supported APRA’s proposal to remake and review APS 910, to ensure that it remains an effective pillar of APRA’s crisis management framework. We encouraged APRA to adopt payment method neutrality within APS 910. We also submitted that APRA should review the ‘Declaration of a direct participant’ section (Attachment B, paragraphs 10-18) to account for any other changes in the payments systems that authorised deposit-taking institutions may participate in since the last review of APS 910.

AusPayNet’s submission is available below.