Financial Sector (Collection of Data) determination No. 38 of 2005 Reporting Standard ARS 322.0 (2005) Statement of Financial Position (Consolidated) (Cth)

Financial Sector (Collection of Data) determination No. 38 of 2005

Reporting Standard ARS 322.0 (2005)

Financial Sector (Collection of Data) Act 2001

I, Charles Watts Littrell, a delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (‘the Act’) MAKE the reporting standard set out in the Schedule, which applies to the financial sector entities referred to in paragraph 2 of the reporting standard.
Under section 15 of the Act, I DECLARE that the reporting standard shall begin to apply to those entities on the later of 1 July 2005 and the date of registration on the Federal Register of Legislative Instruments.
Dated 21 June 2005
[signed]
……………………............
Charles Littrell
Executive General Manager
Policy, Research and Statistics Division
APRA
Interpretation

In this Notice

APRA means the Australian Prudential Regulation Authority.

Schedule

Reporting Standard ARS 322.0 (2005)

Statement of Financial Position (Consolidated)

Objective of this reporting standard
This reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires all locally-incorporated authorised deposit-taking institutions (ADIs) that head a consolidated ADI group, to report to APRA, generally on a quarterly basis, in relation to their consolidated financial position.
This reporting standard outlines the overall requirements for the provision of relevant information to APRA. It should be read in conjunction with:

Form ARF 322.0 Statement of Financial Position (Consolidated) (Form ARF 322.0) and the associated instructions (which are attached and all form part of this reporting standard).
Purpose

Data collected in Form ARF 322.0 is used by APRA for the purpose of prudential supervision. It may also be used by the Reserve Bank of Australia and the Australian Bureau of Statistics.
Application and commencement
This reporting standard applies to each locally-incorporated ADI that is a highest parent entity in relation to a consolidated ADI group and shall begin to apply to those entities on the later of 1 July 2005 and the date of registration on the Federal Register of Legislative Instruments.
Information required
A locally-incorporated ADI that is a highest parent entity in relation to a consolidated ADI group must provide APRA with the information required by Form ARF 322.0 for each reporting period.
Forms and method of submission
The information required by this reporting standard must be given to APRA either:
(a)in electronic form, using one of the electronic submission mechanisms provided by the ‘Direct to APRA’ (also known as ‘D2A’) application; or
(b)manually completed on paper, which must be faxed or mailed to APRA’s head office.
Note: the Direct to APRA application software and paper forms may be obtained from APRA.
Reporting periods and due dates
Subject to paragraph 6, an ADI must provide the information required by this reporting standard in respect of each quarter based on the financial year (within the meaning of the Corporations Act 2001) of the ADI.
APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular ADI to require it to provide the information:

(a) more frequently (if, having regard to the particular circumstances of the ADI, APRA considers it necessary or desirable to obtain information more frequently for the purposes of the prudential supervision of the ADI); or
(b) less frequently (if, having regard to the particular circumstances of the ADI and the extent to which it requires prudential supervision, APRA considers it is unnecessary to require the ADI to provide the information as frequently as provided by paragraph 5).

The information required by this reporting standard must be provided to APRA by the following times:

(a) in the case of the information required by paragraph 3 from a highest parent entity that is a bank or special service provider – 25 business days after the end of the reporting period to which the information relates; and
(b) in the case of the information required by paragraph 3 from a highest parent entity that is a credit union, building society, a specialist credit card institution or Cairns Penny Savings & Loans Limited – 15 business days after the end of the reporting period to which the information relates.

APRA may grant an ADI an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.
Authorisation
The information provided by an ADI under this reporting standard must be subject to processes and controls developed by the ADI for the internal review and authorisation of that information. It is the responsibility of the board and senior management of the ADI to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.
If an ADI submits information under this reporting standard using the ‘Direct to APRA’ software, it will be necessary for an officer of the ADI to digitally sign, authorise and encrypt the relevant data. For this purpose, APRA’s certificate authority will issue ‘digital certificates’, for use with the software, to officers of the ADI who have authority from the ADI to transmit the data to APRA.
If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:

(a) the Principal Executive Officer of the ADI; or
(b) the Chief Financial Officer of the ADI (whatever his or her official title may be).
Minor alterations to forms and instructions

APRA may make minor variations to:

(a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or
(b) the instructions, to clarify their application to the form
without changing any substantive requirement in the form or instructions.

If APRA makes such a variation it must notify an affected ADI in writing.
Transitional
If a reporting period of an ADI that is a highest parent entity ended on 30 June 2005, or ends after that date, the ADI must report under this reporting standard in respect of that reporting period.

Interpretation - classifications of ADIs
In this reporting standard:
Accounting Standard AASB 1024 means the accounting standard so designated made by the Australian Accounting Standards Board, being the accounting standard that applied in respect of reporting periods (within the meaning of the accounting standard) commencing immediately before 1 January 2005.
ADI means an authorised deposit-taking institution within the meaning of the Banking Act 1959.
ADI list means the attached list.
bank means, for the purposes of this standard, an ADI whose name appears under the heading ‘Australian-owned Banks’ or ‘Foreign Subsidiary Banks’ in the ADI list.
building society means an ADI whose name appears under the heading ‘Building Societies’ in the ADI list.
consolidated ADI group means a group comprising:

(a)      an ADI that is a highest parent entity; and
(b)      each subsidiary under the control (within the meaning of Accounting Standard AASB 1024) of that ADI, whether the subsidiary is locally-incorporated or not.
credit union means an ADI whose name appears under the heading ‘Credit Unions’ in the ADI list.
highest parent entity means an ADI that satisfies all of the following conditions:
(a)      it is locally-incorporated;
(b)      it has at least one subsidiary under its control (within the meaning of Accounting Standard AASB 1024); and
(c)      it is not itself a subsidiary of an ADI that is locally-incorporated.
locally-incorporated means incorporated in Australia.
special service provider means an ADI whose name appears under the heading ‘Other ADIs’ in the ADI list (other than the Cairns Penny Savings & Loans Limited).
specialist credit card institution means an ADI whose name appears under the heading ‘Specialist Credit Card Institutions (SCCIs)’ in the ADI list.

If an ADI is not listed in the ADI list, then:
(a)      if the ADI assumes or uses the word ‘bank’ in relation to its financial business, it is taken to be a bank for the purposes of this reporting standard;
(b)     if the ADI assumes or uses the expression ‘building society’ in relation to its financial business, it is taken to be a building society for the purposes of this reporting standard;
(c)      if the ADI assumes or uses the expression ‘credit union’, ‘credit society’ or ‘credit co-operative’ in relation to its financial business, it is taken to be a credit union for the purposes of this reporting standard; and

(d) if the ADI engages in credit card issuing or credit card acquiring, or both, and does not otherwise carry on banking business within the meaning of section 5 of the Banking Act 1959, it is taken to be taken to be a specialist credit card institution for the purposes of this reporting standard.

APRA may in writing determine that an ADI is taken to be a bank, building society, credit union, special service provider or specialist credit card institution for the purposes of this reporting standard (even if, under paragraph 15 or 16, it comes within a different classification).
Interpretation - other definitions
In this reporting standard:
business days means ordinary business days, exclusive of Saturdays, Sundays and public holidays
Principal Executive Officer means the principal executive officer of the ADI for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the entity.
reporting period means a reporting period referred to in paragraph 5 or, if appropriate, paragraph 6.

The ADI list
Australian-owned Banks

Adelaide Bank Limited
AMP Bank Limited
Australia and New Zealand Banking Group Limited
Bank of Queensland Limited
Bendigo Bank Limited
Commonwealth Bank of Australia
Commonwealth Development Bank of Australia Limited (a subsidiary of Commonwealth Bank of Australia)
Elders Rural Bank Limited
Macquarie Bank Limited
Members Equity Bank Pty Limited
National Australia Bank Limited
St George Bank Limited
Suncorp-Metway Limited
Westpac Banking Corporation
Foreign Subsidiary Banks
Arab Bank Australia Limited
Bank of Cyprus Australia Pty Limited
BankWest (the trading name of Bank of Western Australia Limited, a foreign subsidiary bank following its sale to Bank of Scotland in December 1995)
Citibank Pty Limited (a subsidiary of Citibank N.A.)
HSBC Bank Australia Limited
ING Bank (Australia) Limited
Investec Bank (Australia) Limited
Laiki Bank (Australia) Limited
NM Rothschild & Sons (Australia) Limited
Rabobank Australia Limited (a subsidiary of Rabobank Nederland from October 1994)
Branches of Foreign Banks
ABN AMRO Bank N.V.
Bank of America, National Association
Bank of China (subject to depositor protection provisions of the Banking Act 1959)
Bank of Tokyo-Mitsubishi, Ltd
Barclays Capital (the trading name of Barclays Bank plc)
BNP Paribas
Citibank N.A.
Credit Suisse
Deutsche Bank AG
HSBC Bank plc
ING Bank NV
JPMorgan Chase Bank, National Association
Mizuho Corporate Bank, Ltd
Oversea-Chinese Banking Corporation Limited
Rabobank Nederland (the trading name of Co-operative Central Raiffeisen-Boerenleenbank B.A.)
Royal Bank of Canada
Société Générale
Standard Chartered Bank
State Bank of India
State Street Bank and Trust Company
The International Commercial Bank of China
The Royal Bank of Scotland Plc
The Toronto-Dominion Bank
Taiwan Business Bank
UBS AG
United Overseas Bank Limited
WestLB AG
Building Societies
ABS Building Society Ltd
B & E Ltd
Greater Building Society Ltd
Heritage Building Society Limited
Home Building Society Ltd
Hume Building Society Ltd
IMB Ltd
Lifeplan Australia Building Society Limited
Mackay Permanent Building Society Ltd
Maitland Mutual Building Society Limited
Newcastle Permanent Building Society Ltd
Pioneer Permanent Building Society Limited
The Rock Building Society Limited
Wide Bay Australia Ltd
Credit Unions
Amcor Credit Co-operative Limited
AMP Employees' & Agents Credit Union Limited
Austral Credit Union Limited
Australian Central Credit Union Limited
Australian Defence Credit Union Ltd
Australian National Credit Union Limited
AWA Credit Union Limited
Bananacoast Community Credit Union Ltd
Bankstown City Credit Union Ltd
Berrima District Credit Union Ltd
Big River Credit Union Ltd
Big Sky Credit Union Ltd
Blue Mountains and Riverlands Community Credit Union Ltd
Broadway Credit Union Ltd
Calare Credit Union Ltd
Capital Credit Union Ltd
Capricornia Credit Union Ltd
Carboy (SA) Credit Union Limited
Central Murray Credit Union Limited
Central West Credit Union Limited
Circle Credit Co-operative Limited
Coastline Credit Union Limited
Collie Miners Credit Union Ltd
Combined Australian Petroleum Employees' Credit Union Ltd
Community Alliance Credit Union Limited
Community First Credit Union Limited
Companion Credit Union Limited
Comtax Credit Union Limited
Connect Credit Union of Tasmania Limited
Country First Credit Union Ltd
CPS Credit Union (SA) Ltd
CPS Credit Union Co-operative (ACT) Limited
Credit Union Australia Ltd
Credit Union Home Loans Australia Limited
Credit Union Incitec Pivot Limited
Croatian Community Credit Union Limited
CSR and Rinker Employees Credit Union Limited
Dairy Farmers Credit Union Ltd
Dana Employees Credit Union
Defence Force Credit Union Limited
Discovery Credit Union Ltd
Dnister Ukrainian Credit Co-operative Limited
ELCOM Credit Union Ltd
Electricity Credit Union Ltd
Encompass Credit Union Limited
Ericsson Employees Credit Co-operative Limited
Esso Employees' Credit Union Ltd
Eurobodalla Credit Union Ltd
Family First Credit Union Limited
Fire Brigades Employees' Credit Union Limited
Fire Service Credit Union Limited
Firefighters & Affiliates Credit Co-operative Limited
First Pacific Credit Union Limited
Fitzroy & Carlton Community Credit Co-operative Limited
Flying Horse Credit Union Co-operative Limited
Ford Co-operative Credit Society Limited
Gateway Credit Union Ltd
Geelong & District Credit Co-operative Society Limited
GMH (Employees) Q.W.L. Credit Co-operative Limited
Goldfields Credit Union Ltd
Gosford City Credit Union Ltd
Goulburn Murray Credit Union Co-operative Limited
H.M.C. Staff Credit Union Ltd
Heritage Isle Credit Union Limited
Hibernian Credit Union Limited
Holiday Coast Credit Union Ltd
Horizon Credit Union Ltd
Hoverla Ukrainian Credit Co-operative Ltd
Hunter Mutual Limited
Hunter United Employees' Credit Union Limited
Industries Mutual Credit Union Limited
Intech Credit Union Limited
Island State Credit Union Ltd
Karpaty Ukrainian Credit Union Limited
La Trobe Country Credit Co-operative Limited
La Trobe University Credit Union Co-operative Limited
Laboratories Credit Union Ltd
Latvian Australian Credit Co-operative Society Limited
Lithuanian Co-operative Society (Talka) Limited
Lysaght Credit Union Ltd
M.S.B. Credit Union Limited
MacArthur Credit Union Ltd
Macaulay Community Credit Co-operative Limited
Macquarie Credit Union Limited
Maleny and District Community Credit Union Limited
Manly Warringah Credit Union Ltd
Maritime Workers of Australia Credit Union Ltd
Maroondah Credit Union Ltd
MECU Limited
Media Credit Union Queensland Ltd
Melbourne University Credit Union Limited
Memberfirst Credit Union Limited
N.R.M.A. Employees' Credit Union Ltd
NACOS Credit Union Limited
New England Credit Union Ltd
Newcom Colliery Employees' Credit Union Ltd
North East Credit Union Co-operative Limited
Northern Inland Credit Union Ltd
Nova Credit Union Limited
NSW Teachers Credit Union Ltd
Old Gold Credit Union Co-operative Limited
Orana Credit Union Ltd
Orange Credit Union Limited
Phoenix (NSW) Credit Union Ltd
Pinnacle Credit Union Limited
Plenty Credit Co-operative Limited
Police & Nurses Credit Society Limited
Police Association Credit Co-operative Limited
Police Credit Union Limited
Polish Community Credit Union Ltd
Power Credit Union Limited
Powerstate Credit Union Ltd
Prospect Credit Union Limited
Pulse Credit Union Limited
Qantas Staff Credit Union Limited
Queensland Community Credit Union Limited
Queensland Country Credit Union Ltd
Queensland Police Credit Union Limited
Queensland Professional Credit Union Ltd
Queensland Teachers' Credit Union Limited
Queenslanders Credit Union Limited
RACV Credit Union Limited
Railways Credit Union Limited
Randwick Credit Union Limited
RegionalOne Credit Union Limited
Reliance Credit Union Ltd
Resources Credit Union Limited
RTA Staff Credit Union Limited
Satisfac Direct Credit Union Limited
Savings and Loans Credit Union (S.A.) Ltd
Security Credit Union Ltd
Select Credit Union Ltd
Service One Credit Union Ltd
SGE Credit Union Ltd
Shell Employees' Credit Union Limited
Shoalhaven Paper Mill Employee's Credit Union Ltd
South West Slopes Credit Union Ltd
Southern Cross Credit Union Limited
South-West Credit Union Co-operative Limited
St Mary's Swan Hill Co-operative Credit Society Limited
St Patrick's Mentone Co-operative Credit Society Limited
Statewest Credit Society Limited
Sutherland Credit Union Ltd
Sutherland Shire Council Employees' Credit Union Ltd
Sydney Credit Union Ltd
TAB Credit Union Limited
Tartan Credit Union Ltd
The Broken Hill Community Credit Union Ltd
The Gympie Credit Union Ltd
The Police Department Employees' Credit Union Limited
The Summerland Credit Union Limited
The TAFE and Community Credit Union Limited
The University Credit Society Limited
Traditional Credit Union Limited
TransComm Credit Co-operative Limited
Uni Credit Union Ltd
United Credit Union Limited
Victoria Teachers Credit Union Limited
Wagga Mutual Credit Union Ltd
Warwick Credit Union Ltd
WAW Credit Union Co-operative Limited
Westax Credit Society Ltd
Western City Credit Union Ltd
Woolworths/Safeway Employees' Credit Co-operative Limited
Wyong Council Credit Union Ltd
Yennora Credit Union Ltd
Specialist Credit Card Institutions (SCCIs)
Foreign-owned SCCIs
GE Capital Finance Australia
GE Finance Australasia Pty Ltd
Locally Incorporated SCCIs
MoneySwitch Limited
Other ADIs
These companies are run by industry bodies and provide services (e.g. payments clearing) to member building societies and credit unions.
Australian Settlements Limited
Credit Union Services Corporation (Australia) Limited
Creditlink Services Limited
One ADI that provides general banking services which does not fall into the other categories.
Cairns Penny Savings & Loans Limited

Reporting Form ARF 322.0
Statement of Financial Position (Consolidated)
Instruction Guide
General directions and notes
Reporting entity
ARF 322.0 Statement of Financial Position (Consolidated) is to be completed by all locally incorporated ADIs (including Specialist Credit Card Institutions (SCCIs)) on a consolidated group basis (where applicable).
The basis of consolidation required in this form is in accordance with the Accounting Consolidated Group. The accounting consolidated group is to be determined in accordance with the requirements of the Australian accounting standards, notably AASB 1024 ‘Consolidated Accounts’.
Locally incorporated ADIs (including SCCIs) that do not have any controlled entities are not required to submit forms for this reporting entity.
Foreign ADIs[1] and SCCIs operating through branches in Australia are not required to complete this form.
[1] For the purpose of this reporting form, foreign ADI has the same interpretation as in Division 1B of the Banking Act 1959.
Consolidated ADI Group
This refers to the global operations of the ADI and all its controlled entities (where relevant), consolidated in accordance with Australian accounting standards (AASB 1024).
‘Controlled entity’, ‘parent entity’; these terms are defined in accordance with AASB 1024.
Reporting period
The form is to be completed as at the last day of the stated reporting quarter (i.e. September, December, March and June). Locally incorporated banks and Special Service Providers must submit the completed form to APRA within 25 business days after the end of the relevant reporting quarter. Credit Unions, Penny Bank, Building Societies and SCCIs must submit the completed form to APRA within 15 business days after the end of the relevant reporting quarter.
Unit of measurement
Banks are asked to complete the form in millions of Australian dollars rounded to one decimal place. Special Service Providers, Building Societies, Credit Unions, SCCIs and Penny Bank are asked to complete the form in whole Australian dollars (no decimal place).
Amounts denominated in foreign currency are to be converted to AUD in accordance with AASB 1012 ‘Foreign Currency Translation’.
The general requirements of AASB 1012 for translation are:

Foreign currency monetary items outstanding at the reporting date must be translated at the spot rate at the reporting date; and
Other items outstanding at the reporting date must not be retranslated subsequent to initial recognition of the transaction.
Monetary items are defined to mean money held and assets and liabilities that are to be received or paid in fixed or determinable amounts of money.
Monetary items arising under foreign currency derivative contracts at the reporting date must be translated as follows:

Where the exchange rate is fixed in the contract, at that fixed exchange rate; and
Where the exchange rate varies, at the spot rate at the reporting date.
Netting
Unless otherwise specifically stated, institutions are allowed to take advantage of netting agreements in relation to disclosure of data items in this form. Institutions are to comply with the prerequisite for netting outlined in Australian accounting standards AASB 1014 ‘Set-off and Extinguishment of Debt’ and AASB 1033 ‘Presentation and Disclosure of Financial Instruments’.
Term to maturity
Any references to ‘term to maturity’ in ARF 322.0 Statement of Financial Position (Consolidated) refer to residual term to maturity.
Basis of preparation
The nature of the disclosure and format of this form may not be strictly consistent with the annual financial statements prepared by the institution. Notwithstanding this, in completing this form (unless otherwise specifically stated for individual items of assets, liabilities or equity), institutions are requested to follow the basis that is used for the preparation of its annual financial statements in accordance with the Australian accounting standards, specifically in regard to the:
Interpretation / definition of specific asset, liability and equity items;
Appropriate measurement basis for asset, liability and equity items; and
Netting of financial assets and financial liabilities.
If additional clarification is required for specific asset, liability or equity items in ARF 322.0 Statement of Financial Position (Consolidated), reference should be made to the instructions provided for ARF 320.0 Statement of Financial Position (Domestic Books), ARF 321.0 Statement of Financial Position (Offshore Operations) and ARF 323.0 Statement of Financial Position (Licensed ADI) as appropriate.