Significant Financial Institution (SFI)
A term used by APRA to classify larger, more complex financial institutions like major banks or large insurers. To be considered an SFI, the entity must be non-foreign, and its total assets must be larger than the designated limits depending on the institution type (e.g. $20 billion for ADIs/Banks (to be increased to $30 billion), $10 billion for general insurers and $3 billion for private health insurers). SFIs are subject to stricter regulatory rules, such as those under CPS511, because their failure could harm the wider economy.
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Level 7, 261 George Street Sydney, NSW, 2000 Australia
Main: +61 2 9270 2900
Fax: +61 2 9270 2999
Level 4, 454 Collins Street Melbourne, VIC, 3000 Australia
Main: +61 3 9600 0295
Fax: +61 3 9670 0936