AAP
Westpac Banking Corporation has begun operating as a single authorised deposit-taking institution (ADI).
Westpac became Australia's second biggest bank by formerly acquiring St George on December 1, 2008 for $15 billion.
Regulators gave approval for the acquisition on the condition that Westpac moved to a single ADI.
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By moving to a single ADI, Westpac will assume all the assets and liabilities of St George, and all regulatory and prudential reporting by the two will be merged into Westpac's reports.
The move follows Australian Prudential Regulation Authority and the Federal Court and the deregistering of St George as a corporate entity, Westpac said in a statement.
