Australian Prudential Regulation Authority (confidentiality) determination No. 1 of 2006

Administered by Department of the Treasury

Legislation au F2006L00193 Not in force Legislative Instrument

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Australian Prudential Regulation Authority (confidentiality) determination    No. 1 of 2006

 

Information provided by locally-incorporated banks and foreign authorised deposit-taking institutions under Reporting Standard ARS 320.0 (2005)

 

 

EXPLANATORY STATEMENT

Issued by the authority of the Australian Prudential Regulation Authority (‘APRA’)

Australian Prudential Regulation Authority Act 1998 (‘APRA Act’), s 57

 

Australian Prudential Regulation Authority (confidentiality) determination No. 1 of 2006 (the ‘Determination’), made on 17 January 2006 is APRA’s nineteenth determination in relation to information provided under Reporting Standard ARS 320.0 (2005) (and its predecessor reporting standards) under s 57 of the APRA Act.[1]  The purpose of the Determination is to enable APRA to publish an edition of Monthly Banking Statistics, which will contain data in respect of December 2005.

Legislative background

Subsection 56(5C) of the APRA Act provides that it is not an offence against s 56(2) of that Act to disclose information in a reporting document given to APRA under s 13 of the Financial Sector (Collection of Data) Act 2001 where APRA has determined, under s 57, that the document does not contain confidential information.

Section 57 of the APRA Act gives APRA power to determine whether a document given under s 13 of the Financial Sector (Collection of Data) Act contains confidential information.  The section provides that before doing so APRA must give relevant entities or bodies, or their representative association, a reasonable opportunity to make representations as to whether information of the kind contained in the document is confidential, and take such representations into account.  (Consultation undertaken is discussed below.)

Information covered by the determination 

The Determination provides that certain information given to APRA under Reporting Standard ARS 320.0 (2005) Statement of Financial Position (Domestic Books) (made under s13 of the Financial Sector (Collection of Data) Act by Financial Sector (Collection of Data) determination No. 37 of 2005[2]), being information received on or after the date of APRA’s last determination under s 57 and before the date of this one, is non-confidential.  It applies to information given to APRA by foreign ADIs (generally banks) and locally-incorporated banks.

The Determination excludes information of a sensitive nature, including information relating to shareholder’s equity, total income tax liability and total provisions.  The latter two items were excluded as a result of consultations with industry under s 57 of the APRA Act (see below).  

Items that will be disclosed (and which are covered by the Determination) are set out in the Appendix to this Explanatory Statement.

 

Consultation

 

APRA commenced consultations in relation to whether information of the kind covered by the Determination should be treated as non-confidential by writing to locally-incorporated banks, foreign ADIs, and their respective representative bodies, on 24 December 2003.  Most agreed that information of the kind covered by the Determination could be treated as non-confidential.  A small minority objected to the publication of any information from ARS 320.0, but in APRA’s view there is a strong public interest in the publication of the information, and it is noted that similar information was regularly published under the former s 51 of the Banking Act 1959.

 

Regulation Impact Statement

 

The Office of Regulation Review has exempted APRA from the requirement to provide a Regulation Impact Statement in relation to the Determination.

 


Appendix

 

Items to be published in the Monthly Banking Statistics publication 

 

Table 1: Selected Assets on Australian Books of Individual Banks 

 Cash and liquid assets

 Trading securities

 Investment securities

 Acceptances of customers

 Gross loans and advances

 Other investments

 Total resident assets

 Outstanding value of all assets that have been securitised

 Value of housing loans securitised during the month

 

Table 2: Loans and Advances on Australian Books of Individual Banks 

 Loans to non-financial corporations

 Loans to financial corporations

 Loans to general government

 Housing loans - owner-occupied

 Housing loans - investment

 Household credit cards

 Other household loans

 Loans to community service organisations and non-profit institutions

 Total gross loans and advances

 Intra-group loans and advances

 

Table 3: Selected Liabilities on Australian Books of Individual Banks 

 Due to clearing houses and financial institutions

 Acceptances

 Total deposits

 Intra-group deposits

 Bonds, notes and long-term borrowings

 Other borrowings

 

Table 4: Deposits on Australian Books of Individual Banks 

 Deposits from non-financial corporations

 Deposits from financial corporations

 Deposits from general government

 Deposits from households

 Deposits from community service organisations and non-profit institutions

 Other deposit accounts

 Certificates of deposit

 Total deposits

 

 

 

[1]  Prior to January 2006, determinations under section 57 of the APRA Act were entitled ‘Non-confidentiality determination No. X of 200X’. 

[2]  Legislative Instrument - F2005L01683: see http://www.comlaw.gov.au/ComLaw/Legislation/LegislativeInstrument1.nsf/asmade/bytitle/0F204D94AC5C5E1FCA2570280080F2F0?OpenDocument.

Overview

The Australian Prudential Regulation Authority (confidentiality) determination No. 1 of 2006 was enacted to provide clarity on the confidentiality of information provided by locally-incorporated banks and foreign authorised deposit-taking institutions under Reporting Standard ARS 320.0 (2005) to the Australian Prudential Regulation Authority (APRA). This Determination, introduced by APRA under section 57 of the Australian Prudential Regulation Authority Act 1998, seeks to ensure that APRA can publish relevant banking data while maintaining the balance between confidentiality and the public interest in transparency. The objective of this Determination is to allow APRA to publish data in the Monthly Banking Statistics, specifically for the month of December 2005, by identifying certain information that is deemed non-confidential, thereby facilitating the release of such data. This legislative instrument was developed through consultations with relevant stakeholders, ensuring that APRA's decision-making process was inclusive and informed by industry perspectives.

Scope and Application

The Australian Prudential Regulation Authority (confidentiality) determination No. 1 of 2006 pertains to the non-confidential nature of specific information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under the Reporting Standard ARS 320.0 (2005) as stipulated by the APRA Act. This determination facilitates the publication of the Monthly Banking Statistics by the Australian Prudential Regulation Authority (APRA), encompassing data from December 2005. It applies to information received by APRA from both foreign ADIs and locally-incorporated banks, following the date of APRA's last confidentiality determination and preceding the date of this one. The information that will be disclosed includes selected assets and liabilities on Australian books of individual banks, such as cash and liquid assets, loans and advances, and various deposit accounts, among others. However, it excludes sensitive information like shareholder's equity, total income tax liability, and total provisions, as determined after consultations with industry representatives. This determination is a legislative instrument extending the APRA Act's provisions and is applicable across the Commonwealth of Australia.

Key Provisions

The Australian Prudential Regulation Authority (confidentiality) determination No. 1 of 2006 (the ‘Determination’), made on 17 January 2006, serves as APRA's nineteenth determination concerning information provided under Reporting Standard ARS 320.0 (2005) (and its predecessor reporting standards) under section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act). The primary purpose of this Determination is to facilitate APRA's publication of an edition of Monthly Banking Statistics, which will encompass data from December 2005 (subsection 56(5C)). This Determination applies to information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under Reporting Standard ARS 320.0 (2005) Statement of Financial Position (Domestic Books) (made under section 13 of the Financial Sector (Collection of Data) Act 2001 by Financial Sector (Collection of Data) determination No. 37 of 2005). The information in question must be received by APRA on or after the date of APRA's last determination under section 57 and before the date of this one. The Determination stipulates that certain information given to APRA under Reporting Standard ARS 320.0 (2005) is non-confidential. However, it explicitly excludes information of a sensitive nature, such as shareholder's equity, total income tax liability, and total provisions. These exclusions were made after considering representations from relevant entities or bodies, or their representative associations, under section 57 of the APRA Act. The specific items that will be disclosed and are covered by the Determination are outlined in the Appendix to this Explanatory Statement. The Determination imposes obligations on the entities it governs, namely locally-incorporated banks and foreign ADIs. These entities are required to provide certain information to APRA under Reporting Standard ARS 320.0 (2005) as specified in the Determination. APRA, in turn, is obligated to give these entities, or their representative associations, a reasonable opportunity to make representations regarding the confidentiality of the information. APRA must then consider these representations before determining whether the information is non-confidential and can be published. The Determination does not outline specific offences, penalties, or civil/criminal consequences for breach. However, under section 56(2) of the APRA Act, disclosing confidential information without APRA’s permission is an offence. The maximum penalty for such an offence is generally substantial, reflecting the sensitive nature of the information and the importance of maintaining financial sector stability. Breaches could result in criminal prosecution and significant fines, underscoring the necessity for strict compliance with APRA's determinations and the APRA Act's confidentiality provisions.

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