Australian Prudential Regulation Authority (confidentiality) determination No. 5 of 2011

Administered by Department of the Treasury

Legislation au F2011L00306 Not in force Legislative Instrument

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Australian Prudential Regulation Authority (confidentiality) determination No.5 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.5 of 2011 (the Determination), made on 21 February 2011 is APRA’s eighty fourth 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 January 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. 5 of 2011 (the Determination) was enacted to provide a framework for the Australian Prudential Regulation Authority (APRA) to publish the Monthly Banking Statistics, containing data from January 2011. This Determination was made under section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act), which empowers APRA to determine whether information provided under the Financial Sector (Collection of Data) Act 2001 is confidential. The objective of the Determination is to enable APRA to disclose certain non-confidential information provided by locally-incorporated banks and foreign authorised deposit-taking institutions, while excluding sensitive information such as shareholders' equity, total income tax liability, and total provisions. APRA consulted with relevant entities and their representative associations before making this Determination, with most agreeing that the information could be treated as non-confidential, while a minority objected to the publication of any information from the reporting standard. The Determination aims to balance the need for financial sector transparency and the protection of sensitive information.

Scope and Application

The Australian Prudential Regulation Authority (confidentiality) determination No.5 of 2011 applies to information provided to the Australian Prudential Regulation Authority (APRA) by locally-incorporated banks and foreign authorised deposit-taking institutions under the Reporting Standard ARS 320.0 (2005). This Determination, made under section 57 of the Australian Prudential Regulation Authority Act 1998, aims to enable APRA to publish certain data in its Monthly Banking Statistics publication. The information covered by the Determination includes data on selected assets, loans and advances, and selected liabilities on Australian books of individual banks, among other things. However, certain sensitive information, such as details relating to shareholders’ equity, total income tax liability, and total provisions, are excluded from the scope of the Determination. The application of this Determination is limited to information provided to APRA after the date of APRA’s last determination under section 57 and before the date of this Determination. APRA consulted with relevant entities and their representative associations before making this determination, and most agreed that the information could be treated as non-confidential.

Key Provisions

The Australian Prudential Regulation Authority (confidentiality) determination No. 5 of 2011, under section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act), specifies that certain financial data provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under Reporting Standard ARS 320.0 (2005) is deemed non-confidential. This determination facilitates the publication of this data in APRA's Monthly Banking Statistics edition for January 2011. The data in question includes selected assets, loans, and deposits of individual banks, but excludes sensitive information such as shareholder's equity, total income tax liability, and total provisions. The Determination applies to information received by APRA after the previous confidentiality determination and before the date of this one, as outlined in the Appendix to the Explanatory Statement. Entities subject to this Determination, specifically locally-incorporated banks and foreign ADIs, are required to provide specified financial information to APRA in accordance with ARS 320.0. This includes detailed data on assets, loans, and deposits, as listed in the tables within the Determination. APRA must allow relevant entities or their representative associations a reasonable opportunity to make representations on the confidentiality of the information before making a determination, as mandated by section 57 of the APRA Act. The entities must ensure that the information they provide complies with the Determination and the Reporting Standard. While the Determination itself does not explicitly outline specific offences or penalties for non-compliance, breaches of confidentiality requirements under the APRA Act can lead to significant legal consequences. Under section 56(2) of the APRA Act, unauthorised disclosure of confidential information can result in penalties. The maximum penalty for an individual is generally 120 penalty units (approximately AUD 21,600 as of 2024), and for a corporation, it is 600 penalty units (approximately AUD 108,000 as of 2024). Additionally, the disclosure of information in a manner that contravenes the APRA Act can also lead to civil and criminal liability under other relevant provisions of Australian law.

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