Australian Prudential Regulation Authority (confidentiality) determination No. 6 of 2007
Information provided by locally-incorporated banks and foreign authorised deposit-taking institutions under Reporting Standard ARS 320.0 and Reporting Standard ARS 320.0 (2003)
EXPLANATORY STATEMENT
Issued by the authority of the Australian Prudential Regulation Authority (APRA)
Australian Prudential Regulation Authority Act 1998 (the APRA Act), s 57
Australian Prudential Regulation Authority (confidentiality) determination No. 6 of 2007 (the Determination), made on 15 May 2007 determines under s 57 of the APRA Act, that certain information in reporting documents given to APRA under Reporting Standard ARS 320.0 for reporting periods between 1 July 2002 and ending 31 July 2003 and under Reporting Standard ARS 320.0 (2003) for reporting periods between 1 August 2003 and ending on 29 February 2004, is not confidential information. [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 the period 1 July 2002 to 29 February 2004. APRA has previously made a number of such determinations to permit monthly publication of the statistical information contained in Monthly Banking Statistics.
Legislative background
Subsection 56(5C) of the APRA Act provides that it is not an offence against s 56(2) of that Act to disclose information in a reporting document given to APRA under s 13 of the Financial Sector (Collection of Data) Act 2001 (the FSCOD Act) where APRA has determined, under s 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 s 13 of the FSCOD 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 in reporting documents under Reporting Standard ARS 320.0 Statement of Financial Position (Domestic Books) made under s 13 of the FSCOD Act by Determination of Reporting Standards on 28 June 2002 and under Reporting Standard ARS 320.0 (2003) Statement of Financial Position (Domestic Books)[2] (made under s13 of the FSCOD Act by Revocation No.1 and Determination No.5 of 2003 Reporting Standards for ADIs on 23 June 2003), in respect of reporting periods between 1 July 2002 and 29 February 2004, is non-confidential. It applies to information given to APRA by foreign ADIs (generally banks) and locally-incorporated banks.
The Determination excludes (in Part 2 of the Schedule) 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 s 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 has been requested by industry to publish the information covered by the Determination. In April 2007 APRA wrote to the reporting entities concerned informing them of the proposed release of information covered by the Determination and inviting them to review and correct the data proposed to be released. No objections were received to the proposed release.
APRA first 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 s 51 of the Banking Act 1959.
Appendix
Items to be published in the Monthly Banking Statistics publication for reporting periods between 1 July 2002 and 29 February 2004.
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 value of all assets that have been securitised
Value of housing loans securitised (commencing December 2003)
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 (commencing July 2003)
Table 3: Selected Liabilities on Australian Books of Individual Banks
Due to clearing houses and financial institutions
Acceptances
Total deposits
Intra-group deposits (commencing July 2003)
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] Found at http://www.comlaw.gov.au/ComLaw/Legislation/LegislativeInstrument1.nsf/0/443A6952DC507C05CA256F900014A583/$file/ARS+320.0+20031.doc