The Australian Prudential Regulation Authority (APRA) has finalised capital adequacy standard amendments required as a result of the new government-backed cyclone reinsurance pool for northern Australia.

The changes clarify the treatment of recoverables from the Australian Reinsurance Pool Corporation, which is administering the scheme.

APRA says no submissions were received in response to a consultation package that closed at the start of last month.

The changes have been made to GPS 001 Definitions, GPS 114 Capital Adequacy: Asset Risk Charge, GPS 116 Capital Adequacy: Insurance Concentration Risk Charge and GPS 117 Capacity Adequacy: Asset Concentration Risk Charge.