Australian Prudential Regulation Authority (confidentiality) determination No. 17 of 2009

Administered by Department of the Treasury

Legislation au F2009L04021 Not in force Legislative Instrument

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Australian Prudential Regulation Authority (confidentiality) determination No.17 of 2009

 

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.17 of 2009 (the Determination), made on 26 October 2009 is APRA’s sixty eighth 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 September 2009.

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.17 of 2009, introduced under the Australian Prudential Regulation Authority Act 1998 (APRA Act), serves to address the need for APRA to publish data from locally-incorporated banks and foreign authorised deposit-taking institutions in its Monthly Banking Statistics publication. This Determination was made on 26 October 2009 by the Australian Prudential Regulation Authority (APRA) and it is the sixty-eighth such determination under section 57 of the APRA Act. The policy objective is to enable the publication of non-confidential information while protecting sensitive data, thereby balancing the need for financial sector transparency with the protection of proprietary business information. The Determination excludes sensitive information such as shareholder equity, total income tax liability, and total provisions, and includes specific financial data such as cash and liquid assets, loans, and deposits, as outlined in the accompanying Appendix.

Scope and Application

The Australian Prudential Regulation Authority (confidentiality) determination No.17 of 2009, made under section 57 of the Australian Prudential Regulation Authority Act 1998, pertains to the handling of 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). This Determination is designed to allow the Australian Prudential Regulation Authority (APRA) to publish certain non-confidential data within the Monthly Banking Statistics publication, specifically for the month of September 2009. The Act applies to data submitted to APRA by both locally-incorporated banks and foreign ADIs, which generally refers to banks, under the Financial Sector (Collection of Data) Act 2001. Notably, this Determination excludes sensitive information, including details regarding shareholder equity, total income tax liability, and total provisions, based on consultations with industry stakeholders. The scope of the information that will be disclosed is outlined in the appendix to the Explanatory Statement, which includes selected assets, loans, liabilities, and deposits on Australian books of individual banks. This Determination, therefore, governs the publication of financial data to ensure transparency while safeguarding sensitive financial information.

Key Provisions

The Australian Prudential Regulation Authority (confidentiality) determination No.17 of 2009, made under section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act), aims to clarify the confidentiality status of specific financial information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) to APRA. This information is submitted under the Reporting Standard ARS 320.0 (2005) Statement of Financial Position (Domestic Books) (ARS 320.0). The main objective of this Determination is to allow APRA to publish certain financial data in its Monthly Banking Statistics, specifically for the month of September 2009 (sections 1 and 2). This Determination applies to information received by APRA on or after the date of APRA's last confidentiality determination and before the date of this one (section 4). The obligations imposed by the Determination require APRA to consult with relevant entities, including locally-incorporated banks, foreign ADIs, and their representative bodies, before determining the confidentiality status of the information provided. This process ensures that all stakeholders have a reasonable opportunity to express their views on whether the information should be treated as confidential or not (section 5). In this particular case, APRA began consultations on 24 December 2003, and most entities agreed that the information covered by the Determination could be treated as non-confidential (section 6). However, the Determination also excludes information of a sensitive nature, such as shareholder’s equity, total income tax liability, and total provisions, which were excluded following consultations with industry (section 4). Under this Determination, APRA is permitted to disclose certain financial information in its Monthly Banking Statistics publication. This includes selected assets, loans and advances, liabilities, and deposits of individual banks. However, the Determination does not apply to sensitive information, which is excluded from disclosure (section 7). The Determination, therefore, allows APRA to publish detailed financial data in a format that provides useful information to the public while maintaining the confidentiality of sensitive information. Breach of this Determination may have legal consequences, but specific penalties are not mentioned in the text. It is important to note that the Determination does not create any new offences or penalties; instead, it relies on the existing provisions of the APRA Act and other relevant legislation (section 5).

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