Australian Prudential Regulation Authority (confidentiality) determination No. 19 of 2010

Administered by Department of the Treasury

Legislation au F2010L02813 Not in force Legislative Instrument

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Australian Prudential Regulation Authority (confidentiality) determination No.19 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.19 of 2010 (the Determination), made on 22 October 2010 is APRA’s eightieth 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 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.19 of 2010 (the Determination) was introduced to address the need for the Australian Prudential Regulation Authority (APRA) to publish data from locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under Reporting Standard ARS 320.0 (2005). This determination, made under section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act), ensures that certain information provided to APRA is deemed non-confidential, facilitating its publication in the Monthly Banking Statistics. The policy objective behind this determination was to balance the public interest in financial transparency with the protection of sensitive financial information. APRA engaged in consultations with relevant entities to ensure the proposed changes would not compromise confidential information, resulting in the exclusion of certain sensitive data such as shareholder’s equity and total income tax liability.

Scope and Application

The Australian Prudential Regulation Authority (confidentiality) determination No.19 of 2010 applies to information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under the Reporting Standard ARS 320.0 (2005). This information, which is provided under section 13 of the Financial Sector (Collection of Data) Act 2001, is deemed non-confidential by the determination. The aim is to enable the Australian Prudential Regulation Authority (APRA) to publish an edition of Monthly Banking Statistics containing data up until September 2010. The Determination excludes information of a sensitive nature, such as details relating to shareholder's equity, total income tax liability, and total provisions. APRA consulted with relevant entities, including locally-incorporated banks, foreign ADIs, and their representative bodies, before making this determination, and most agreed that the specified information could be treated as non-confidential. The scope of the Determination is limited to data received by APRA from the date of the last confidentiality determination up until the date of this one. The Determination can be extended or modified through subordinate instruments, but the current focus is on ensuring the public interest in the dissemination of financial data is met.

Key Provisions

The Australian Prudential Regulation Authority (confidentiality) determination No.19 of 2010 (the Determination) primarily serves to delineate which financial data provided under Reporting Standard ARS 320.0 (2005) is considered non-confidential and can be published. Specifically, the Determination applies to information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under ARS 320.0, which is received by the Australian Prudential Regulation Authority (APRA) after the date of the last confidentiality determination and before the date of this one (section 57 of the Australian Prudential Regulation Authority Act 1998). This includes financial data such as selected assets, loans and advances, and liabilities on Australian books of individual banks. The Determination, however, excludes sensitive information such as shareholder’s equity, total income tax liability, and total provisions. Entities governed by this Determination, including locally-incorporated banks and foreign ADIs, are obligated to provide APRA with the specified financial information under ARS 320.0. APRA, in turn, must determine whether the information provided is confidential, taking into account any representations made by the entities or their representative associations. This process ensures that the entities comply with the requirement to provide relevant financial data to APRA while also considering the confidentiality of sensitive information. Failure to comply with the obligations under the Determination can result in legal repercussions. However, under subsection 56(5C) of the APRA Act, disclosure of information in a reporting document given to APRA is not considered an offence if APRA has determined, under section 57, that the document does not contain confidential information. While the Determination itself does not specify penalties for non-compliance, breaches of other provisions under the APRA Act or related legislation may incur civil or criminal penalties, depending on the nature and severity of the breach.

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