Australian Prudential Regulation Authority (confidentiality) determination No. 6 of 2009

Administered by Department of the Treasury

Legislation au F2009L02030 Not in force Legislative Instrument

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Australian Prudential Regulation Authority (confidentiality) determination No.6 of 2009

 

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.6 of 2009 (the Determination), made on 21 May 2009 is APRA’s fifty ninth 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 April 2009.

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. 6 of 2009 was enacted to facilitate the disclosure of certain financial information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under the Reporting Standard ARS 320.0 (2005). This determination, issued under section 57 of the Australian Prudential Regulation Authority Act 1998, aims to enable the Australian Prudential Regulation Authority (APRA) to publish relevant banking statistics in its Monthly Banking Statistics publication. The determination was issued following consultations with relevant entities and bodies, ensuring that the disclosure of non-confidential information aligns with the public interest and supports informed financial sector oversight. It specifies that certain financial data, excluding sensitive information such as shareholder's equity and total income tax liability, can be published without breaching confidentiality obligations. This determination ensures that APRA can effectively carry out its regulatory functions while maintaining transparency and providing valuable data to the public and stakeholders.

Scope and Application

The Australian Prudential Regulation Authority (confidentiality) determination No.6 of 2009 applies to information provided by locally-incorporated banks and foreign Authorised Deposit-taking Institutions (ADIs) to the Australian Prudential Regulation Authority (APRA) under the Reporting Standard ARS 320.0 (2005). This legislation is enacted under section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act), and its purpose is to enable APRA to publish an edition of Monthly Banking Statistics, which will contain data in respect of April 2009. The information covered by this Determination is that received on or after the date of APRA’s last determination under section 57 and before the date of this Determination, with certain sensitive information excluded. APRA has engaged in consultations with industry stakeholders as per the legislative requirements before making the determination, and it is noted that the publication of such information is in the strong public interest. The Determination sets out the specific items to be published in the Monthly Banking Statistics, which include details on selected assets, liabilities, loans, and deposits of the participating banks.

Key Provisions

The Australian Prudential Regulation Authority (confidentiality) determination No. 6 of 2009 (the Determination) enables the Australian Prudential Regulation Authority (APRA) to publish data from locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) in its Monthly Banking Statistics. Specifically, section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act) empowers APRA to determine whether certain information provided to it under the Reporting Standard ARS 320.0 (2005) is confidential, and to make this information public if it is deemed non-confidential. The Determination specifies that certain financial information provided to APRA under ARS 320.0 by locally-incorporated banks and foreign ADIs, received on or after the date of APRA’s last determination under section 57 and before the date of this one, is non-confidential. This includes details such as selected assets, loans, and deposits, but excludes sensitive information such as shareholder’s equity, total income tax liability, and total provisions. APRA must provide these entities a reasonable opportunity to make representations on the confidentiality of the information before making its determination. The obligations imposed by the Determination on the relevant entities include providing APRA with the specified financial information under ARS 320.0. Local and foreign ADIs must ensure that the information provided is accurate and complete, and that it does not include any confidential information as defined by the Determination. Additionally, these entities must comply with any further instructions or requests from APRA regarding the provision of this information. The entities must also be prepared to engage in consultations with APRA as required under section 57 of the APRA Act, providing any relevant feedback or objections to the publication of the information. Breaches of the Determination could result in civil or criminal consequences. Under the APRA Act, disclosing confidential information in a reporting document given to APRA is not an offence if APRA has determined that the document does not contain confidential information. However, if the information is deemed confidential and is disclosed in breach of this determination, it could lead to legal action. The penalties for such breaches are not explicitly stated in the Determination, but could include fines or other sanctions as provided under the APRA Act or other relevant legislation. It is important for the entities to ensure that they comply with the Determination to avoid any potential legal repercussions.

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