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15 June 2011

424  MR FLETCHER: To ask the Assistant Treasurer—

(1)  Has the Australian Prudential Regulation Authority (APRA) assessed the likely impact of the Government’s proposed carbon tax on Authorised Deposit-taking Institutions (ADIs), including loan delinquency levels, and whether ADIs would have adequate capital to cover increased delinquency levels; if so, what assessment was undertaken, and what was the outcome.

(2) Has APRA requested that ADIs examine the likely impact of the Government’s proposed carbon tax on their loan books, and whether they would have adequate capital to cover increased delinquency levels; if so, what requests were made, and what was the outcome.

(3) What scope is there for APRA to increase the capital adequacy minimums imposed on ADIs to cover the potential increased risk of default from both the residential and commercial loan books arising from the proposed carbon tax.

425  MR FLETCHER: To ask the Assistant Treasurer—Has the Australian Prudential Regulation Authority (APRA) assessed the likely impact of the Government’s proposed carbon tax on the superannuation industry, including superannuation invested in shares in, and retirement funds exposed to, the energy, manufacturing and mining sectors; if so, what assessment was undertaken, and what was the outcome.