Westpac Banking Corp. (WBC.AX), Friday announced the Australian Prudential Regulation Authority's decision to reduce the company's total operational risk capital overlay from $1 billion to $500 million.
Following this, the Common Equity Tier 1 capital ratio will rise by around 18 basis points, reflecting a reduction in the risk-weighted assets of $6,250 million.
The company added that the change will be effective immediately.
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