Australian Prudential Regulation Authority (confidentiality) determination No. 19 of 2011

Administered by Department of the Treasury

Legislation au F2011L02146 Not in force Legislative Instrument

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Australian Prudential Regulation Authority (confidentiality) determination No.19 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.19 of 2011 (the Determination), made on 24 October 2011 is APRA’s ninety second 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 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. 19 of 2011, enacted in 2011, was introduced to address the need for transparency in the banking sector while balancing the confidentiality requirements of sensitive financial information. This determination was issued under the authority of the Australian Prudential Regulation Authority (APRA) in accordance with section 57 of the Australian Prudential Regulation Authority Act 1998. The primary policy objective is to facilitate the publication of monthly banking statistics by APRA, thereby enhancing market transparency and providing valuable economic insights without compromising the confidentiality of sensitive financial data. This determination specifically exempts certain information provided by locally-incorporated banks and foreign authorised deposit-taking institutions from being classified as confidential, enabling the release of non-sensitive financial data to the public.

Scope and Application

The Australian Prudential Regulation Authority (confidentiality) determination No.19 of 2011 applies to information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under the Reporting Standard ARS 320.0 (2005) to the Australian Prudential Regulation Authority (APRA) as per section 13 of the Financial Sector (Collection of Data) Act 2001. The Determination is concerned with the non-confidential nature of certain information, excluding sensitive data such as shareholder equity, total income tax liability, and total provisions, which were identified as confidential through industry consultations under section 57 of the APRA Act. The information covered by the Determination includes data on assets, loans, and deposits as specified in the appended tables of the Explanatory Statement. This Determination extends to the Commonwealth of Australia and applies to entities that submit the relevant data under the Financial Sector (Collection of Data) Act. The Determination does not apply to information deemed confidential after consultation with the banking industry and it does not affect the ability of APRA to treat other information as confidential if necessary.

Key Provisions

The Australian Prudential Regulation Authority (confidentiality) determination No. 19 of 2011 (the Determination), under section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act), is APRA's ninety-second determination regarding information provided under Reporting Standard ARS 320.0 (2005) Statement of Financial Position (Domestic Books) (ARS 320.0) (and its predecessor reporting standards). It was made to enable APRA to publish an edition of Monthly Banking Statistics containing data in respect of September 2011. This Determination applies to information provided to APRA by locally-incorporated banks and foreign Authorised Deposit-taking Institutions (ADIs) under ARS 320.0, received on or after the date of APRA's last determination under section 57 and before the date of this one. The Determination excludes information of a sensitive nature, including information relating to shareholder's equity, total income tax liability, and total provisions. It is important to note that APRA consulted with relevant entities and their representative associations before making this Determination, and most agreed that information covered by the Determination could be treated as non-confidential. Under the Determination, APRA has imposed certain obligations on the parties it governs. These parties must provide information to APRA under ARS 320.0, as stipulated in the Financial Sector (Collection of Data) Act 2001. Before publishing the information, APRA must give these entities or their representative associations a reasonable opportunity to make representations as to whether the information is confidential and take such representations into account. The Determination applies to information received on or after the date of APRA's last determination under section 57 and before the date of this one. The entities must ensure that the information provided is accurate and complete, as required by the Determination. Failure to comply with the obligations imposed by the Determination may result in civil or criminal consequences. Under section 56(2) of the APRA Act, it is not an offence against this section to disclose information in a reporting document given to APRA under section 13 of the Financial Sector (Collection of Data) Act, where APRA has determined, under section 57, that the document does not contain confidential information. However, if the information provided is found to be inaccurate or incomplete, the relevant entity may face penalties as determined by the APRA Act. It is important for the parties governed by the Determination to ensure that they comply with their obligations to avoid any potential consequences.

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