Australian Prudential Regulation Authority (confidentiality) determination No. 7 of 2011

Administered by Department of the Treasury

Legislation au F2011L00525 Not in force Legislative Instrument

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Australian Prudential Regulation Authority (confidentiality) determination No.7 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.7 of 2011 (the Determination), made on 24 March 2011 is APRA’s eighty 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 February 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.7 of 2011 was introduced to address the issue of the confidentiality of information provided by locally-incorporated banks and foreign authorised deposit-taking institutions under the Reporting Standard ARS 320.0 (2005). This determination was made under section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act) and was enacted by the Australian Prudential Regulation Authority (APRA), which was established to ensure the financial stability and soundness of the Australian financial services sector. The primary policy objective of this determination is to facilitate the publication of non-confidential banking data by APRA, thereby enhancing transparency and providing valuable insights into the banking sector's financial position and performance. The Determination outlines which specific pieces of information can be disclosed publicly while excluding sensitive data such as shareholder’s equity, total income tax liability, and total provisions.

Scope and Application

The Australian Prudential Regulation Authority (confidentiality) determination No. 7 of 2011 applies to information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under Reporting Standard ARS 320.0. This determination, issued under section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act), enables APRA to publish specific data from February 2011 in its Monthly Banking Statistics edition. The determination allows for the disclosure of certain financial information, ensuring it does not constitute confidential information, provided it meets the criteria set forth. The scope of the determination excludes sensitive information such as shareholder's equity, total income tax liability, and total provisions. This exclusion was based on consultations with industry stakeholders, although a majority agreed that the specified information could be treated as non-confidential. The determination's application extends to both domestic and foreign ADIs, reflecting APRA's oversight role in the financial sector.

Key Provisions

The Australian Prudential Regulation Authority (confidentiality) determination No.7 of 2011 (the Determination) under section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act) specifies that certain information provided to APRA by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under Reporting Standard ARS 320.0 (2005) is non-confidential. This information, which includes data on assets, loans, advances, and deposits, can be published in the Monthly Banking Statistics. The specific items covered by the Determination, such as selected assets, loans and advances, liabilities, and deposits, are detailed in an appendix to the Explanatory Statement. The Determination excludes sensitive information like shareholder equity, total income tax liability, and total provisions. The Determination imposes an obligation on locally-incorporated banks and foreign ADIs to provide specified information to APRA under ARS 320.0, ensuring that the information is non-confidential as determined by APRA. This process involves APRA giving relevant entities or their representative associations a reasonable opportunity to make representations regarding the confidentiality of the information, which APRA must consider before making a determination. The entities governed by the Determination must comply with the reporting requirements set out in ARS 320.0 and ensure that the information they provide is accurate and timely. While the Determination itself does not outline specific offences, penalties, or civil/criminal consequences for breach, the APRA Act, under which the Determination is made, contains provisions for breaches. Subsection 56(5C) of the APRA Act provides that it is not an offence to disclose information in a reporting document if APRA has determined that the document does not contain confidential information. However, any misuse of non-confidential information could potentially lead to other legal consequences under different sections of the APRA Act or other relevant legislation, depending on the context and nature of the breach.

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