Australian Prudential Regulation Authority (confidentiality) determination No. 15 of 2011

Administered by Department of the Treasury

Legislation au F2011L01759 Not in force Legislative Instrument

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Australian Prudential Regulation Authority (confidentiality) determination No.15 of 2011

 

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.15 of 2011 (the Determination), made on 24 August 2011 is APRA’s ninetieth 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 July 2011.

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.15 of 2011 was enacted under the Australian Prudential Regulation Authority Act 1998 (APRA Act) to address the need for the Australian Prudential Regulation Authority (APRA) to publish certain financial data of locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) for the purposes of transparency and public interest. The APRA Act, section 57, empowers APRA to determine whether information provided under specific reporting standards, such as ARS 320.0, contains confidential information. The Determination aims to enable APRA to disclose certain non-confidential information in its Monthly Banking Statistics publication, thereby facilitating informed decision-making by the public and regulatory bodies. The policy objective is to ensure that APRA can publish such data while taking into account industry representations and maintaining the integrity of sensitive financial information.

Scope and Application

The Australian Prudential Regulation Authority (confidentiality) determination No.15 of 2011 applies to the information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs), which generally means banks, under Reporting Standard ARS 320.0 (2005). This determination allows the Australian Prudential Regulation Authority (APRA) to publish specified data in the Monthly Banking Statistics edition for July 2011. The information must be given to APRA under the Financial Sector (Collection of Data) Act 2001 and must be received on or after the date of APRA’s last determination under section 57 and before the date of this one. The scope of the Determination includes specific financial data such as assets, liabilities, loans, and deposits, while excluding sensitive information such as shareholder's equity, total income tax liability, and total provisions. The exclusion of these sensitive items was determined following consultations with the industry under section 57 of the APRA Act. APRA consulted with the relevant entities and their representative bodies on 24 December 2003, with the majority agreeing that the specified information could be treated as non-confidential. The Determination itself does not specify geographic or jurisdictional reach beyond the entities covered under the APRA Act, and its application is further extended or restricted through subordinate instruments as necessary.

Key Provisions

The Australian Prudential Regulation Authority (confidentiality) determination No.15 of 2011, made under section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act), serves to identify certain financial information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) as non-confidential. This determination (paragraph 1) is crucial for enabling the publication of specific data in APRA’s Monthly Banking Statistics. This data pertains to July 2011 and is derived from Reporting Standard ARS 320.0 (2005) Statement of Financial Position (Domestic Books). The information deemed non-confidential includes various assets, loans, and deposits of individual banks, as detailed in the appendix to the Explanatory Statement (paragraph 2). The determination imposes specific obligations on locally-incorporated banks and foreign ADIs to provide certain financial data to APRA, as mandated by section 13 of the Financial Sector (Collection of Data) Act 2001 (paragraph 3). These entities must ensure that the information provided aligns with the criteria set out in the Determination, specifically excluding sensitive data such as shareholder’s equity, total income tax liability, and total provisions (paragraph 4). APRA has the authority to determine the confidentiality of this information, a process that involves consulting with relevant entities and considering their representations (paragraph 5). By providing this data, the banks and ADIs facilitate the transparency and stability of the financial sector, as overseen by APRA. Breaches of the provisions outlined in the Determination could lead to civil or criminal consequences, although specific penalties are not detailed in the Explanatory Statement (paragraph 6). Under section 56(2) of the APRA Act, disclosing information that APRA has determined to be confidential could otherwise be an offence. However, the Determination explicitly states that the information covered is non-confidential, thus exempting it from the offence provisions (paragraph 7). Nonetheless, entities must comply with the terms of the Determination to avoid any potential repercussions related to non-disclosure or the disclosure of sensitive information (paragraph 8).

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