- AMP Bank Ltd_APS330 Disclosure_2019 Q1
- AMP Bank Ltd_APS330 Disclosure_2019 Q2
- AMP Bank Ltd_APS330 Disclosure_2019 Q3
- AMP Bank Ltd_APS330 Disclosure_2019 Q4
- AMP Bank Ltd_APS330 Disclosure_2018 Q1
- AMP Bank Ltd_APS330 Disclosure_2018 Q2 (revised)
- AMP Bank Ltd_APS330 Disclosure_2018 Q3 (revised)
- AMP Bank Ltd_APS330 Disclosure_2018 Q4
- AMP Bank Ltd_APS330 Disclosure_2017 Q1
- AMP Bank Ltd_APS330 Disclosure_2017 Q2
- AMP Bank Ltd_APS330 Disclosure_2017 Q3
- AMP Bank Ltd_APS330 Disclosure_2017 Q4
- AMP Bank Ltd_APS330 Disclosure_2016 Q1
- AMP Bank Ltd_APS330 Disclosure_2016 Q2
- AMP Bank Ltd APS 330 Disclosure 2016 Q3
- AMP Bank Ltd APS 330 Disclosure 2016 Q4
- AMP Bank Ltd_APS330 Disclosure_2014 Q1
- AMP Bank Ltd_APS330 Disclosure_2014 Q2
- AMP Bank Ltd_APS330 Disclosure_2014 Q3
- AMP Bank Ltd_APS330 Disclosure_2014 Q4
- AMP Bank Ltd_APS330 Disclosure_2013 Q1
- AMP Bank Ltd_APS330 Disclosure_2013 Q2
- AMP Bank Ltd_APS330 Disclosure_2013 Q3
- AMP Bank Ltd_APS330 Disclosure_2013 Q4
- AMP Bank Ltd_APS330 Disclosure_2012 Q1
- AMP Bank Ltd_APS330 Disclosure_2012 Q2
- AMP Bank Ltd_APS330 Disclosure_2012 Q3
- AMP Bank Ltd_APS330 Disclosure_2012 Q4
- AMP Bank Ltd_APS330 Disclosure_2011 Q1
- AMP Bank Ltd_APS330 Disclosure_2011 Q2
- AMP Bank Ltd_APS330 Disclosure_2011 Q3
- AMP Bank Ltd_APS330 Disclosure_2011 Q4
- AMP Bank Ltd_APS330 Disclosure_2010 Q1
- AMP Bank Ltd_APS330 Disclosure_2010 Q2
- AMP Bank Ltd_APS330 Disclosure_2010 Q3
- AMP Bank Ltd_APS330 Disclosure_2010 Q4
- AMP Bank Ltd_APS330 Disclosure_2009 Q1
- AMP Bank Ltd_APS330 Disclosure_2009 Q2
- AMP Bank Ltd_APS330 Disclosure_2009 Q3
- AMP Bank Ltd_APS330 Disclosure_2009 Q4
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:
Basel III Pillar 3 remuneration disclosures
AMP Bank Limited is required under APRA Prudential Standard APS 330 Public Disclosure (Attachment E) to disclose annually the remuneration of its senior managers and material risk-takers.
- Annual remuneration disclosures as at 31 December 2019.
- Annual remuneration disclosures as at 31 December 2018.
- Annual remuneration disclosures as at 31 December 2017.
- Annual remuneration disclosures as at 31 December 2016.
- Annual remuneration disclosures as at 31 December 2015.
- Annual remuneration disclosures as at 31 December 2014.
- Annual remuneration disclosures as at 31 December 2013.
AMP Bank has adopted the Banking Code of Practice.
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?
|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
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.