FIRB definition
Examples of FIRB in a sentence
Macquarie has been approved by APRA to apply the FIRB approach for credit risk capital calculation.
While FIRB will make available an audience with impacted stakeholders at the request of those stakeholders, the only consultation that it initiates under ‘Australia’s Foreign Investment Policy’ is with agencies of the Commonwealth or State and Territory Governments.In contrast, the approach proposed by NSW Farmers would provide greater transparency to the process undertaken by the Government when considering whether the proposed purchase is in the national interest.
Upon the announcement that as a result of due diligence ADM would continue with its proposed takeover bid for ADM, NSW Farmers wrote to the Federal Treasurer requesting he direct the Foreign Investment Review Board (FIRB) to undertake formal public consultation on the sale as an exercise of ministerial discretion.
The timeframe for FIRB to review applications will also be extended from 30 days to up to six months.
Approval for the FIRB approach enables Macquarie to rely on its own internal estimates for some of the necessary credit risk components in determining the capital requirement for a given credit exposure.