APRA Prudential Standard 3PS 221 Aggregate Risk Exposures
Prudential Practice Guides (PPGs) provide guidance on APRA’s view of sound practice in particular areas. PPGs frequently discuss legal requirements from legislation, regulations or APRA’s prudential standards, but do not themselves create enforceable requirements.
Prudential Standard 3PS 221 Aggregate Risk Exposures (3PS 221) sets out APRA’s requirements in relation to the aggregation of risks across a Level 3 group. This PPG aims to assist Level 3 Heads to comply with those requirements and, more generally, to outline prudent practices in relation to certain aggregation matters.
Subject to the requirements of 3PS 221, a Level 3 Head has the flexibility to structure its risk aggregation capabilities in the way most suited to achieving its business objectives. Not all practices outlined in this PPG will be relevant for every Level 3 Head and some aspects may vary depending upon the size, business mix and complexity of the Level 3 group’s business operations
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