The Australian Prudential Regulation Authority (APRA) is an independent government agency responsible for overseeing financial institutions in Australia. Its main role is to ensure the safety and stability of banks, credit unions, insurance companies, and superannuation funds. APRA works to protect the interests of depositors, policyholders, and superannuation members by enforcing regulations and promoting sound risk management practices. APRA also plays a crucial role in maintaining the overall health of the financial system. It conducts regular assessments and stress tests to identify potential risks and vulnerabilities within financial institutions. By doing so, APRA helps to foster public confidence in the financial sector and supports economic stability in Australia.