Australian Prudential Regulation Authority (confidentiality) determination No. 3 of 2012

Administered by Department of the Treasury

Legislation au F2012L00078 Not in force Legislative Instrument

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Australian Prudential Regulation Authority (confidentiality) determination No.3 of 2012

 

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.3 of 2012 (the Determination), made on 23 January 2012 is APRA’s ninety fifth 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 December 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.

 

Statement of compatibility prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011

 

The legislative instrument the subject of this explanatory statement does not engage any of the applicable rights or freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011. Accordingly, in APRA’s assessment, this legislative instrument is compatible with human rights.

 


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.3 of 2012, enacted by the Australian Prudential Regulation Authority (APRA), aims to facilitate the publication of specific financial data from locally-incorporated banks and foreign authorised deposit-taking institutions. This determination was issued under the authority of the Australian Prudential Regulation Authority Act 1998, and it was made to allow APRA to publish an edition of Monthly Banking Statistics, containing data for December 2011. The determination addresses the need for transparency and accessibility of financial information, ensuring that certain non-confidential data can be disclosed for public benefit, while excluding sensitive information that could compromise the financial stability of the institutions involved. This determination follows consultations with industry representatives, reflecting a balance between the public interest in financial data and the need to protect proprietary information.

Scope and Application

The Australian Prudential Regulation Authority (confidentiality) determination No. 3 of 2012 applies to information provided by locally-incorporated banks and foreign Authorised Deposit-taking Institutions (ADIs) under the Reporting Standard ARS 320.0 (2005) Statement of Financial Position (Domestic Books). This determination allows the Australian Prudential Regulation Authority (APRA) to publish an edition of Monthly Banking Statistics containing data for December 2011. The purpose of this legislation is to ensure that certain non-confidential information can be disclosed for public interest and transparency purposes while protecting sensitive information from being disclosed. The Determination excludes information of a sensitive nature, such as shareholder’s equity, total income tax liability, and total provisions, which were identified as confidential during consultations with the industry under section 57 of the APRA Act. The scope of this Determination is limited to information given to APRA 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. This legislation operates within the Commonwealth jurisdiction and does not extend or restrict application through subordinate instruments.

Key Provisions

The Australian Prudential Regulation Authority (APRA) Confidentiality Determination No. 3 of 2012, under the APRA Act section 57, is designed to clarify the non-confidential nature of specific financial data provided to APRA by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs). The primary goal of this Determination is to facilitate the publication of monthly banking statistics, encompassing data from December 2011. It specifies that information collected under the Reporting Standard ARS 320.0, which concerns the Statement of Financial Position (Domestic Books), will be treated as non-confidential, provided it is submitted after the last confidentiality determination by APRA and before the issuance of this Determination. This stipulation is crucial for the transparency and public dissemination of financial data, as it aims to allow for the publication of certain financial metrics without breaching confidentiality agreements. The obligations imposed by the Determination include the requirement for APRA to consult with relevant entities such as locally-incorporated banks, foreign ADIs, and their representative bodies before making a determination about the confidentiality of the provided data. This ensures that all stakeholders have an opportunity to voice their opinions on whether the information should remain confidential or not. The consultation process, which began in December 2003, involved discussions with the industry to consider the potential impact of making certain data public. APRA's decision to publish the data is based on the belief that there is a significant public interest in accessing such information, which aligns with previous practices under the Banking Act 1959. Despite the broad allowance for non-confidential data, the Determination excludes certain sensitive information from its scope. Specifically, it does not cover details related to shareholders' equity, total income tax liability, and total provisions, following consultations with the industry. This exclusion is meant to protect sensitive financial details that could potentially harm the institutions if made public. The Determination also adheres to human rights standards, as confirmed by a compatibility statement under the Human Rights (Parliamentary Scrutiny) Act 2011, which asserts that the legislation does not infringe upon any rights or freedoms recognised in international human rights instruments. Failure to comply with the obligations and requirements set out in this Determination could potentially lead to legal repercussions, though specific penalties are not detailed in the text. However, the nature of APRA's regulatory authority suggests that non-compliance could result in enforcement actions, which might include fines or other regulatory penalties. Additionally, the publication of non-confidential information without proper authorisation could lead to civil or criminal liability, depending on the jurisdiction and the specifics of the breach. The maximum penalties, if applicable, would be determined by relevant legislative provisions outside the scope of this particular Determination.

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