APRA Prudential Practice Guide CPG 233 Pandemic Planning

Prudential practice guides (PPGs) provide guidance on APRA’s view of sound practice in particular areas. PPGs frequently discuss statutory requirements from legislation, regulations or APRA’s prudential standards, but do not themselves create enforceable requirements.

This PPG aims to assist regulated institutions in considering and prudently managing the risks posed by a potential influenza pandemic, or any other widespread outbreak of contagious disease that could affect their operations. The information in this guide supports compliance with Prudential Standards CPS 232 Business Continuity Management (CPS 232) and SPS 232 Business Continuity Management (SPS 232), which set out the Australian Prudential Regulation Authority’s (APRA) requirements in relation to business continuity management for authorised deposit-taking institutions (ADIs), general insurers, life companies and registrable superannuation entity (RSE) licensees (RSE licensees). This guide also supports compliance with risk management and other relevant prudential requirements.

Subject to meeting APRA’s prudential requirements, regulated institutions have the flexibility to configure their pandemic planning and risk management approaches in a manner best suited to achieving their business objectives. Not all of the practices outlined in this prudential practice guide will be relevant for every regulated institution and some aspects may vary depending upon the size, complexity and risk profile of the institution.