It is reported that at a time when the collapse of Silicon Valley Bank (SVB) in the United States continues to spread, Australia's prudential regulatory body requires local banks to report encrypted currency transactions.

The Australian Preventive Regulatory Authority (APRA) has begun to require banks to apply for leverage ratios for start-up accounts and password-related companies, the Australian Financial Review reported on March 21.

The Financial Review quoted three people familiar with the matter as saying that regulators had ordered banks to improve their reporting on encrypted assets and provide daily updates to the APRA. The source said that the aim of the agency is to get more information and a comprehensive understanding of the bank's openness to login passwords and its associated risks.

APRA declined to confirm or deny reports of Australian banks' open login passwords for Cointelegraph. Our bureau is referring to a statement released last week, when the APRA indicated that it would strengthen its control over the surrounding banking industry and asked them to provide more information about all potential impacts.

These new measures are obviously part of the strengthening of banking supervision by APRA after the recent collapse of the banking management system around the world. On March 19th Soci é t é G é n é rale allowed its less-than-healthy competitor, Credit Suisse, to recover $3.2 billion, and the latter collapsed on Sunday. The acquisition is one of the latest examples of banking failures after the collapse of SVB and SilverGate.

It is reported that Barrenjoey investment analyst Jonathan Mott told clients in a statement that the situation at Australian banks had been "long-term", but warned that self-confidence could easily be disrupted, creating work pressure on banks' gross margins.

"our own way of checking shows that savings are not obtained from all relatively small organizations, and capital and liquidity caches are strong," Mott said. "

But this is a crisis of confidence, and credit spreads and the cost of capital will continue to rise. At the very least, this will increase the pressure on banks to work on gross margins, while credit quality will continue to deteriorate.

Some time ago, the Australian Banking Association conducted a survey on the cost of living to scientifically study the harm of the COVID-19 epidemic and the international situation between the United States and Russia to Australians. Before the survey, an interpretation of rising inflation showed that more than 186 foreign banks faced a similar risk of shutting down if depositors were determined to acquire all their assets.