Australian Prudential Regulation Authority (confidentiality) determination No. 17 of 2011

Administered by Department of the Treasury

Legislation au F2011L01995 Not in force Legislative Instrument

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Australian Prudential Regulation Authority (confidentiality) determination No.17 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.17 of 2011 (the Determination), made on 23 September 2011 is APRA’s ninety first 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 August 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.17 of 2011, issued under the Australian Prudential Regulation Authority Act 1998, aims to facilitate the Australian Prudential Regulation Authority (APRA) in publishing an edition of Monthly Banking Statistics for August 2011. This determination addresses the need to provide transparency and public interest in financial data, while ensuring that sensitive information remains protected. APRA’s authority to make such determinations under section 57 of the APRA Act allows for the publication of certain financial information provided by locally-incorporated banks and foreign authorised deposit-taking institutions, subject to consultation with relevant industry stakeholders. This legislative measure underscores the balance between maintaining confidentiality of sensitive financial data and promoting transparency in the financial sector.

Scope and Application

The Australian Prudential Regulation Authority (confidentiality) determination No.17 of 2011 applies to information provided by locally-incorporated banks and foreign authorised deposit-taking institutions under Reporting Standard ARS 320.0 (2005), specifically information received by the Australian Prudential Regulation Authority (APRA) under section 13 of the Financial Sector (Collection of Data) Act 2001. This Determination is designed to facilitate the publication of an edition of Monthly Banking Statistics by APRA, containing data for August 2011. It encompasses information that is deemed non-confidential after consultation with the relevant entities, which include locally-incorporated banks and foreign authorised deposit-taking institutions, and their representative associations. The Determination excludes sensitive information such as details relating to shareholder's equity, total income tax liability, and total provisions, following industry consultations. The scope of the Determination extends to the Commonwealth level, as it is issued under the authority of the APRA Act, and it does not apply to any other types of entities or industries outside of the specified financial institutions. The Determination further outlines specific items to be published, including selected assets, liabilities, loans, and deposits, as detailed in the appended tables of the Explanatory Statement.

Key Provisions

The Australian Prudential Regulation Authority (APRA) Confidentiality Determination No. 17 of 2011 pertains to the publication of banking statistics by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under the Reporting Standard ARS 320.0 (2005). This Determination (section 57 of the Australian Prudential Regulation Authority Act 1998, or APRA Act) identifies specific financial information that APRA can disclose without breaching confidentiality provisions. This includes data concerning assets, loans, and deposits of banks, which are to be published in the Monthly Banking Statistics for August 2011. It excludes sensitive information such as shareholder equity, total income tax liability, and total provisions, following consultations with industry stakeholders. Under the APRA Act, APRA is required to provide a reasonable opportunity for relevant entities or their representative associations to make representations on the confidentiality of the information before making a determination. This process ensures that APRA considers industry feedback before deciding whether the information can be published. The Determination specifies that the information received on or after the last confidentiality determination and before the date of this one is non-confidential, meaning it can be disclosed to the public. The obligations imposed by the Determination on locally-incorporated banks and foreign ADIs include providing APRA with the specified financial information under ARS 320.0. These institutions must ensure that the data they submit are accurate and complete, as APRA will use this information to compile the Monthly Banking Statistics. They are also expected to comply with the exclusions outlined in the Determination, refraining from providing sensitive information that has been deemed confidential. Breaches of the confidentiality provisions outlined in the Determination can lead to legal consequences. Although the Determination itself does not explicitly state penalties, the APRA Act (section 56) provides that disclosing information that is considered confidential can result in penalties. The specific penalties for such breaches are not detailed in the Determination but could include substantial fines or other legal actions as stipulated under the APRA Act and related legislation. The public interest in the disclosure of banking statistics is considered a mitigating factor, but non-compliance with the confidentiality requirements could still lead to enforcement actions by APRA.

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