Banking (Statistics) Regulations

Legislation au C1960L00007 Regulations Not in force Legislative Instrument

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STATUTORY RULES.

1960. No. 7.

REGULATIONS UNDER THE BANKING ACT 1959.*

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Banking Act 1959.

Dated this 9th day of January, 1960.

W. J. Slim

Governor-General.

By His Excellency’s Command,

(SGD.) HAROLD HOLT

Treasurer.

BANKING (STATISTICS) REGULATIONS.

Citation.

1. These Regulations may be cited as the Banking (Statistics) Regulations.

Commencement.

2. These Regulations shall come into operation on the day on which Part VI. of the Banking Act 1959 comes into operation.

Definition.

3. In these Regulations, “the Act” means the Banking Act 1959.

Prescribed dates for trading banks to furnish balance-sheets and statements.

4. For the purposes of sub-section (1.) of section 52 of the Act, the date in each year prescribed in respect of each bank specified in the following table is the date specified in the table opposite to the name of the bank:—

Name of Bank.	Date.
Australia and New Zealand Bank Limited...........................	30th September
The Ballarat Banking Company Limited............................	30th June
The Bank of Adelaide........................................	30th September
Bank of China.............................................	30th June
Bank of New South Wales.....................................	30th September
Bank of New Zealand.........................................	31st March
The Brisbane Permanent Building and Banking Company Limited...........	31st August
The Commercial Bank of Australia Limited..........................	30th June
The Commercial Banking Company of Sydney Limited..................	30th June
Commonwealth Development Bank of Australia.......................	30th June
Commonwealth Trading Bank of Australia...........................	30th June
Comptoir National d’Escompte de Paris.............................	30th June
The English, Scottish and Australian Bank, Limited.....................	30th June
The National Bank of Australasia Limited...........................	30th September
The Queensland National Bank Limited.............................	30th September

* Notified in the Commonwealth Gazette on 11th January, 1960.

10619/59.—Price 3d. 15/30.12.1959.

Prescribed dates for savings banks to furnish balance-sheets and statements.

5. For the purposes of section 53 of the Act, the date in each year prescribed in respect of each bank specified in the following table is the date specified in the table opposite to the name of the bank:—

Name of Bank.	Date.
Australia and New Zealand Savings Bank Limited......................	30th September
Bank of New South Wales Savings Bank Limited......................	30th September
C.B.C. Savings Bank Limited...................................	30th June
Commonwealth Savings Bank of Australia...........................	30th June
The Hobart Savings Bank......................................	31st August
Launceston Bank for Savings....................................	31st August

Variation of Form A.

6. Form A in the Second Schedule to the Act is varied—

(a) by omitting items 2 and 3 in the column headed “Assets.” and inserting in their stead the following items:—

“2. Money at short call overseas

“3. Australian public securities**—

(a) Commonwealth and States—

(i) Treasury bills and seasonal securities

(ii) Other securities

(b) Local and semi-governmental authorities”;

(b) by inserting after item 5 in that column the following item:—

“5a. Loans to authorized dealers in the short-term money market”; and

“8. Loans (other than loans included in item 5a), advances and bills discounted (after deducting provisions for debts considered bad or doubtful)”.

Variation of Form C.

7. Form C in the Second Schedule to the Act is varied by omitting item 1 in the column headed “Income.” and inserting in its stead the following item:—

“1. Discount and interest—

(a) on loans (other than loans referred to in paragraph (d) of this item), advances and bills discounted

(b) on Commonwealth and State securities—

(i) Treasury bills

(ii) Seasonal securities

(iii) Other securities

(d) on loans to authorized dealers in the short-term money market

(e) on Statutory Reserve Deposit Account with Reserve Bank

(f) other”.

Variation of Form D.

8. Form D in the Second Schedule to the Act is varied—

(a) by omitting item 4 in the column headed “Assets” in Part I. of that Form and inserting in its stead the following item:—

“4. Australian public securities—

(a) Commonwealth and States—

(i) Treasury bills

(ii) Seasonal securities

(iii) Other securities

(b) Local and semi-governmental authorities”;

(b) by inserting after item 5 in that column the following item:—

“5a. Loans to authorized dealers in the short-term money market”;

“8. Loans (other than loans included in item 5a), advances and bills discounted ||”; and

(d) by omitting from Part II. of that Form the column heading—

“Loans, advances and bills discounted.”

and inserting in its stead the column heading—

“Loans (other than loans to authorized dealers in the short-term money market), advances and bills discounted.”.

Variation of Form G.

9. Form G in the Second Schedule to the Act is varied—

(a) by omitting items 4 and 5 in the column headed “Assets.” and inserting in their stead the following items:—

“4. Money at short call overseas

“5. Australian public securities**—

(a) Commonwealth and States—

(i) Treasury bills and seasonal securities

(ii) Other securities

(b) Local and semi-governmental authorities”;

(b) by inserting after item 7 in that column the following item:—

“7a. Loans to authorized dealers in the short-term money market”;

and

“9. Loans (other than loans included in item 7a), advances and bills discounted (after deducting provisions for debts considered bad or doubtful)”.

Variation of Form H.

10. Form H in the Second Schedule to the Act is varied by omitting item 1 in the column headed “Income.” and inserting in its stead the following item:—

“1. Discount and interest—

(a) on loans (other than loans referred to in paragraph (d) of this item), advances and bills discounted

(b) on Commonwealth and State securities—

(i) Treasury bills

(ii) Seasonal securities

(iii) Other securities

(d) on loans to authorized dealers in the short-term money market

(e) other”.

Variation of Form I.

11. Part I. of Form I in the Second Schedule to the Act is varied—

(a) by omitting item 5 in the column headed “Assets.” and inserting in its stead the following item:—

“5. Australian public securities§—

(a) Commonwealth and States—

(i) Treasury bills

(ii) Seasonal securities

(iii) Other securities

(b) Local and semi-governmental authorities”;

(b) by inserting after item 6 in that column the following item:—

“6a. Loans to authorized dealers in the short-term money market”;

and

“8. Loans (other than loans included in item 6a), advances and bills discounted||—

(a) Housing

(b) Other”.

Interpretation of Forms.

12. In Forms A, C, D, G, H and I in the Second Schedule to the Act (being those Forms as varied by virtue of these Regulations)—

(a) a reference to authorized dealers in the short-term money market shall be read as a reference to persons—

(i) who, in accordance with arrangements made between the Reserve Bank and those persons, deal in securities issued by the Commonwealth and, for that purpose, borrow money for short periods; and

(ii) whom the Reserve Bank declares, in writing, to be authorized dealers in the short-term money market; and

(b) a reference to seasonal securities shall be read as a reference to Seasonal Inscribed Stock and Seasonal Treasury Notes.

By Authority: A. J. Arthur, Commonwealth Government Printer, Canberra.

Overview

The Banking (Statistics) Regulations 1960 were made under the Banking Act 1959 to prescribe specific dates for trading banks and savings banks to furnish balance sheets and statements as well as to vary certain forms used in the reporting process. Enacted by the Commonwealth Government, these regulations aim to ensure consistency and uniformity in the financial reporting practices of banks, thereby facilitating effective regulatory oversight and analysis of the banking sector. The regulations were issued by the Governor-General in accordance with the Banking Act 1959, ensuring that banks comply with the prescribed dates and formats for their financial disclosures.

Scope and Application

The Banking (Statistics) Regulations, made under the Banking Act 1959, are designed to specify the dates by which various banking institutions must provide their balance-sheets and statements. These regulations apply to trading banks and savings banks, each of which is listed with a specific date by which they must furnish their financial statements. The prescribed dates vary by institution, ranging from 30th June to 31st August, as detailed in the regulations. These requirements are intended to ensure that the Reserve Bank of Australia receives timely and standardised financial data from the banks, facilitating effective regulation and oversight. Additionally, the regulations make modifications to the forms in the Second Schedule of the Act, specifically updating the items in the "Assets" and "Income" sections to include new categories such as "Money at short call overseas" and "Loans to authorized dealers in the short-term money market." These changes aim to enhance the accuracy and relevance of the statistical information reported by the banks.

Key Provisions

The Banking (Statistics) Regulations, made under the Banking Act 1959, specify the dates by which trading banks (section 4) and savings banks (section 5) must furnish their balance-sheets and statements. For instance, the Australia and New Zealand Bank Limited must provide these documents by 30 September each year, whereas the Bank of New Zealand must do so by 31 March annually. The Regulations also detail variations to several forms in the Second Schedule to the Act, including Forms A, C, D, G, H, and I (sections 6 to 11). These variations primarily involve the reconfiguration of asset and income items, such as the addition of "Money at short call overseas" and "Australian public securities" and the removal or modification of other items like "Loans, advances and bills discounted." Entities governed by these Regulations are required to adhere to the specified dates for furnishing their financial statements and balance-sheets (section 4 and 5). They must also comply with the variations to the forms, ensuring that they report assets, income, and other financial data according to the updated items listed in the Regulations. For example, authorised dealers in the short-term money market must be clearly identified and differentiated from other loans and advances (section 12(a)). Breaches of these Regulations can lead to various civil and criminal consequences, although specific penalties are not detailed within the text of these Regulations. Generally, under the Banking Act 1959, penalties for non-compliance with reporting requirements can include fines and, in severe cases, imprisonment. The exact penalties would depend on the specific nature of the breach and any relevant provisions within the primary Act or other applicable laws.

Area of Law: Finance & Banking Law
Instrument: Legislative Instrument
Concepts: Definitions & Interpretation; Reporting & Disclosure Obligations; Regulatory Standards

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.

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