Yarra Capital Management said there had been lots of alarmist commentary ahead of the announcement which was overdone.
“This is a significant milestone for the sector that ends a long period of uncertainty,” he said. “APRA has delivered a measured approach, consistent with the glide path the sector has been on post the GFC, where capital levels have been building for nine consecutive years.
“The resilience of the banking sector has been underestimated and this has drawn a line under one of most prominent issues for the sector in recent years.”
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