All financial intermediaries are authorized depository institutions by APRA to carry out financial intermediation

True/False

The correct answer is the option: True.

Explanation:

First of all, the Australian Prudential Regulation Authority or APRA is the name given to an independent statutory authority whose main purpose is to regulate and supervise institutions across banking, insurance and superannuation and promotes financial system stability in Australia.

Secondly, authorized deposit-taking institutions are those financial institutions that are permitted to accept deposits from the public in Australia and all financial intermediaries that are registered are authorized to carry out financial intermediation.