In a significant turn of events, a national regulator in Australia announced on Wednesday that it has lifted the imposed A$500-million ($330.3-million) operational capital add-on from National Australia Bank (ASX:NAB).

This obligation was initially enforced on the bank back in 2019 due to identified issues within the lending institution’s risk governance self-assessment.

The country’s prudential regulator had previously required Westpac Banking, ANZ Group, and National Australia Bank to allocate an additional A$500 million each until their risk management processes were strengthened and customers reimbursed for incorrectly levied fees.

“APRA is now satisfied that NAB has completed its remediation program and adequately addressed the issues,” said the regulator in the recent announcement.

National Australia Bank is one of the four largest financial institutions in Australia in terms of market capitalization and customers.