Australian Prudential Regulation Authority (confidentiality) determination No. 13 of 2010

Administered by Department of the Treasury

Legislation au F2010L01774 Not in force Legislative Instrument

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Australian Prudential Regulation Authority (confidentiality) determination No.13 of 2010

 

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), section 57

 

Australian Prudential Regulation Authority (confidentiality) determination No.13 of 2010 (the Determination), made on 23 June 2010 is APRA’s seventy sixth determination in relation to information provided under Reporting Standard ARS 320.0 (2005) Statement of Financial Position (Domestic Books) (ARS 320.0) (and its predecessor reporting standards) under section 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 May 2010.

Legislative background

Subsection 56(5C) of the APRA Act provides that it is not an offence against section 56(2) of that Act to disclose information in a reporting document given to APRA under section 13 of the Financial Sector (Collection of Data) Act 2001 where APRA has determined, under section 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 section 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 ARS 320.0 (made under section 13 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 section 57 and before the date of this one, is non-confidential. It applies to information given to APRA by foreign Authorised Deposit-taking Institutions (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 section 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 section 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 2010 was enacted on 23 June 2010, under section 57 of the Australian Prudential Regulation Authority Act 1998. The determination was made to address the issue of enabling the Australian Prudential Regulation Authority (APRA) to publish an edition of Monthly Banking Statistics containing data for May 2010. This legislation provides a legal framework for APRA to disclose specific non-confidential information provided by locally-incorporated banks and foreign authorised deposit-taking institutions under Reporting Standard ARS 320.0 (2005). The determination excludes sensitive information such as shareholder’s equity, total income tax liability, and total provisions, while allowing the disclosure of other financial information to promote transparency in the financial sector. The policy objective is to balance the need for financial sector transparency with the protection of sensitive information, ensuring that the public interest is served without compromising the confidentiality of certain data.

Scope and Application

The Australian Prudential Regulation Authority (confidentiality) determination No.13 of 2010 applies to information provided to the Australian Prudential Regulation Authority (APRA) by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under the Reporting Standard ARS 320.0 (2005) Statement of Financial Position (Domestic Books). This Determination is made under section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act) and is intended to allow APRA to publish an edition of Monthly Banking Statistics containing data in respect of May 2010. The Determination specifies which types of information provided by these entities are non-confidential and therefore can be disclosed to the public. Notably, the Determination excludes information that is of a sensitive nature, such as information relating to shareholder’s equity, total income tax liability, and total provisions. This exclusion was determined following consultations with the industry under section 57 of the APRA Act. The items that will be disclosed and are covered by the Determination are outlined in the Appendix to this Explanatory Statement.

Key Provisions

The Australian Prudential Regulation Authority (confidentiality) determination No.13 of 2010, made under section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act), establishes that certain financial information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under Reporting Standard ARS 320.0 (2005) is non-confidential and can be published. This information pertains to data submitted to the APRA between the date of the last confidentiality determination and the date of this current determination (sections 1-2). Specifically, the information includes various financial assets, loans, and deposits, which are detailed in the appendix of the explanatory statement. The Determination imposes obligations on locally-incorporated banks and foreign ADIs to provide specified financial data to the APRA, which is then subject to a confidentiality assessment. The APRA is mandated to consult with these entities and their representative associations before determining whether the information is confidential. This process ensures that the interests of all stakeholders are considered before any decision is made regarding the publication of financial data (section 3). The Determination also requires that the APRA provide these entities with an opportunity to make representations regarding the confidentiality of the information before making its determination. The Determination does not specify any offences, penalties, or civil/criminal consequences for breach, as it pertains to the confidentiality assessment and publication of financial data rather than enforcement of compliance with reporting requirements. However, any breach of the APRA Act or the Financial Sector (Collection of Data) Act 2001, which governs the collection and reporting of financial data, could result in penalties as outlined in those respective statutes. The APRA Act, for example, includes provisions for penalties for failure to provide information or for providing misleading or deceptive information (section 56).

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