Australian Prudential Regulation Authority (confidentiality) determination No. 13 of 2007

Administered by Department of the Treasury

Legislation au F2007L03727 Not in force Legislative Instrument

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Australian Prudential Regulation Authority (confidentiality) determination    No. 13 of 2007

 

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. 13 of 2007 (the ‘Determination’), made on 12 September 2007 is APRA’s thirty ninth 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 August 2007.

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.

 

 


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 principal balance of securitised assets

 Value of housing loans securitised

 

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. 13 of 2007 was enacted to address the issue of confidentiality in the information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under the Reporting Standard ARS 320.0 (2005). The objective of this determination, made under section 57 of the Australian Prudential Regulation Authority Act 1998, is to enable the Australian Prudential Regulation Authority (APRA) to publish an edition of Monthly Banking Statistics containing data for August 2007. The determination specifies that certain information provided by these institutions is non-confidential, allowing for its disclosure, while excluding sensitive data such as shareholder’s equity, total income tax liability, and total provisions. The decision to treat the specified information as non-confidential was made following consultations with industry stakeholders, which revealed a general agreement on the non-confidential nature of the data, despite some objections. This determination aims to balance the need for transparency in banking statistics with the protection of sensitive financial information.

Scope and Application

The Australian Prudential Regulation Authority (confidentiality) determination No. 13 of 2007 applies to information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under Reporting Standard ARS 320.0 (2005). This information, which is generally related to the Statement of Financial Position (Domestic Books), is mandated under section 13 of the Financial Sector (Collection of Data) Act 2001. The determination facilitates the publication of data in APRA's Monthly Banking Statistics, specifically for August 2007. The scope of the determination includes information received by APRA from foreign ADIs and locally-incorporated banks on or after the date of APRA's last confidentiality determination and before the date of this one. However, it excludes sensitive information such as details relating to shareholder's equity, total income tax liability, and total provisions. These exclusions were determined following consultations with industry under section 57 of the APRA Act. The determination, which is a part of the Australian Prudential Regulation Authority Act 1998, is subject to further specification through subordinate instruments, which may extend or restrict its application.

Key Provisions

The Australian Prudential Regulation Authority (APRA) (confidentiality) determination No. 13 of 2007 (the ‘Determination’) provides a framework for the publication of certain financial data by APRA, as stipulated in section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act). This Determination (sections 1 and 2) specifies that certain information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under Reporting Standard ARS 320.0 (2005) is deemed non-confidential. It is important to note that the information covered by this Determination excludes sensitive details such as shareholder’s equity, total income tax liability, and total provisions. These exclusions were made following consultations with the relevant industry bodies under section 57 of the APRA Act. The Determination applies to information submitted to APRA after the previous confidentiality determination and before the current one. Entities governed by this Determination, including locally-incorporated banks and foreign ADIs, are obligated to submit the specified non-confidential financial data as per the Reporting Standard ARS 320.0 (2005). These entities must ensure that the information provided is accurate and timely, in compliance with the requirements set forth in the Determination. The data provided will be used by APRA to compile and publish an edition of Monthly Banking Statistics, which will include details such as selected assets, liabilities, loans, and deposits on Australian books of individual banks. Failure to comply with the provisions of this Determination could potentially lead to civil or criminal consequences. Although the Determination itself does not explicitly outline penalties for breaches, the underlying APRA Act, particularly sections 56 and 57, could impose sanctions for non-compliance. The APRA Act empowers APRA to take action against entities that fail to provide the required information or provide incorrect information, which could result in regulatory scrutiny, fines, or other penalties as deemed appropriate by the relevant authorities. Additionally, disclosing confidential information contrary to the APRA Act could lead to criminal charges, with penalties that could include substantial fines and imprisonment. In summary, the Australian Prudential Regulation Authority (confidentiality) determination No. 13 of 2007 sets forth the framework for the publication of non-confidential financial data by APRA. It obligates locally-incorporated banks and foreign ADIs to submit specified financial information, which will be published in the Monthly Banking Statistics. While the Determination does not explicitly state penalties for non-compliance, the APRA Act provides a basis for imposing sanctions on entities that fail to adhere to the requirements. This ensures the integrity and transparency of the financial data published by APRA.

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