The Australian Prudential Regulation Authority (APRA) published its long-awaited determination of the definition of “unquestionably strong” in relation to Australia’s big-four banks on 19 July. It also hints at a potential future move more closely to align Australian capital ratio methodology with international standards.

Wayne Byres, chairman of the Australian Prudential Regulation Authority (APRA), expressed in a 28 June speech his view that the final stages of Basel III planning and implementation “will largely mark the end of the cycle” for bank regulation. However, he also suggested that he does not want to see the regulatory work of the past decade unwound to serve any country’s domestic considerations.

If socially responsible fixed-income asset classes, and in particular green bonds, become a consistent component of the Australian debt market it seems likely that March-April 2017 will be looked back on as a landmark period. Issuance volume hit an all-time high, including a clutch of breakthrough and innovative transactions.