Regulatory Disclosures

View Basel III Pillar 3 capital disclosures

2023

2022

2021

2020

2019

2018

2017

2016

2015

View previous Basel II capital disclosures

2014

2013

2012

2011

2010

2009

2008

View Capital instruments

Capital instruments

AMP Bank Limited is required under APRA Prudential Standard APS 330 Public Disclosure (APS 330 Attachment B) to disclose certain features of its Regulatory Capital instruments.

The following pages provide details of AMP Bank Limited's ordinary shares and Tier 2 Capital instruments that are included in Regulatory Capital:

Ordinary shares
Additional Tier 1 Capital instruments:
- Additional Tier 1 Capital instruments - Q4 2019
- Additional Tier 1 Capital instruments - Q4 2020
Tier 2 instruments:
- Tier 2 instruments - 2017 Q3
- Tier 2 instruments - 2022 Q4

View Basel III Pillar 3 remuneration disclosures

Basel III Pillar 3 remuneration disclosures

AMP Bank Limited is required under APRA Prudential Standard APS 330 Public Disclosure (Attachment G) to disclose annually the remuneration of its senior managers and material risk-takers.

AMP Bank has adopted the Banking Code of Practice.

View LIBOR Transition

LIBOR Transition

AMP is committed to providing updates on regulator changes and reforms in financial markets. One of the important reforms due in 2021 will be the removal and replacement of LIBOR. Here is what you need to know.

Interest Rate Benchmarks are Changing

LIBOR, the London Interbank Offered Rate is a key determinant within interest rate-based products including debt securities, deposits, loan contracts and derivatives. LIBOR is being phased out and retired from use across global financial markets and is expected to cease being a primary benchmark by the end of 2021. LIBOR is being replaced by better regulated interest rates benchmarks, known as Alternate Reference Rates (ARRs). LIBOR is currently used to set the interest rate applicable to five major currencies (USD, CHF, GBP, JPY and EUR).

Why is this happening?

Regulators want to promote greater transparency, measurability and increase the integrity of interest rate benchmarks by phasing in new benchmarks based on actual transactions, requiring the removal of LIBOR.

How is this happening?

Replacement rates, known as ‘Alternative Reference Rates’ (ARRs) have been nominated by respective regulators and are being partially used across financial markets already. Globally financial regulators are in touch with impacted financial institutions to monitor transition plans and ensure organisations are prepared for these changes.

What is the difference between LIBOR and ARRs?

The two key differences between LIBOR and ARRs are that LIBOR includes a credit spread based on lending between two commercial banks whereas ARRs are intended to be near risk-free rates reflecting little or no credit spread. LIBOR benchmarks have terms of 1, 3, 6 and 12 months whereas ARRs are overnight interest rates.

What are the new Alternative Reference Rates?

Jurisdiction	Changes	Administered by
USA-USD	USD LIBOR to SOFR	SOFR is administered by the Federal Reserve Bank of New York
UK-GBP	LIBOR to SONIA	SONIA is administered by the Bank of England
EURO	EONIA to €STR	€STR is administered by the European Central Bank
Swiss - CHF	CHF LIBOR to SARON	SARON is administered by the SIX Swiss Exchange
Japan - JPY	JPY LIBOR & TIBOR to TONA	TONA is administered by the Bank of Japan

What is happening in Australia and New Zealand?

The benchmark rates equivalent to LIBOR in Australia and New Zealand are the Bank Bill Swap Rate (BBSW) and Bank Bill Benchmark Rate (BKBM) respectively. BBSW and BKBM rely on actual underlying transactions for determination and are overseen by independent administrators. In Australia the risk-free interest rate benchmarks (ARR) are the AUD Overnight Index Average (AONIA) and the RBA cash rate. It is expected that more interest rate transactions will move to referencing ARRs over time, however there is currently no regulatory deadline by which a transition from BBSW or BKBM to ARRs is to occur.

Where can I to find out more?

AMP has a LIBOR Transition team that can help answer any questions. Please send your enquiries to LIBORTransition@amp.com.au

Disclaimer

All information on this website is subject to change without notice. Although the information is from sources considered reliable, AMP does not guarantee that it is accurate or complete. This content is intended for information purposes only and you should not rely upon it and should seek professional legal, accounting, and/or tax advice before making any decision. Except where liability under any statute cannot be excluded, AMP does not accept any liability for any resulting loss or damage of the reader or any other person.