Non-Confidentiality Determination No. 6 of 2005

Administered by Department of the Treasury

Legislation au F2005L01565 Not in force Legislative Instrument

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NON-CONFIDENTIALITY DETERMINATION NO. 6 OF 2005

 

Determination that information is non-confidential (information provided by locally-incorporated banks and foreign authorised deposit-taking institutions under 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 (‘APRA Act’), s 57

 

Non-Confidentiality Determination No. 6 of 2005 (the ‘Determination’), made on 17 June 2005 is APRA’s thirteenth determination under s 57 of the APRA Act.  The purpose of the Determination is to enable APRA to publish an edition of Monthly Banking Statistics, which will contain data in respect of May 2005.

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 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 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.

Information covered by the determination 

The Determination provides that certain information given to APRA under Reporting Standard ARS 320.0 (2003) Statement of Financial Position (Domestic Books) (made under s 13 of the Financial Sector (Collection of Data) Act), being information received after APRA’s last determination under s 57, non-confidential.  It applies to information given to APRA by foreign 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 tax 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 Appendix A to the 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 s 51 of the Banking Act 1959.

 

Regulation Impact Statement

 

The Office of Regulation Review has exempted APRA from the requirement to provide a Regulation Impact Statement in relation to the Determination.

 


Appendix A: List of 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 value of all assets that have been securitised

 Value of housing loans securitised during the month

 

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

 

 

 

Overview

The Australian Prudential Regulation Authority (APRA) issued the Non-Confidentiality Determination No. 6 of 2005 under Section 57 of the Australian Prudential Regulation Authority Act 1998. This determination was made to allow APRA to publish an edition of Monthly Banking Statistics containing data for May 2005. The underlying purpose is to facilitate the disclosure of specified financial data from locally-incorporated banks and foreign authorised deposit-taking institutions, as per the Reporting Standard ARS 320.0 (2003). This determination addresses the need for transparency in the banking sector by specifying which information can be disclosed without breaching confidentiality provisions. The determination excludes sensitive information such as shareholder equity, total income tax liability, and total tax provisions, reflecting the outcomes of consultations with industry stakeholders. This legislative action aims to balance the public interest in financial transparency with the need to protect certain proprietary information.

Scope and Application

Non-Confidentiality Determination No. 6 of 2005, issued by the Australian Prudential Regulation Authority (APRA) under the Australian Prudential Regulation Authority Act 1998, designates specific information provided by locally-incorporated banks and foreign authorised deposit-taking institutions as non-confidential. This determination is integral to enabling APRA to publish an edition of Monthly Banking Statistics containing data relevant to May 2005. The information pertains to data submitted under Reporting Standard ARS 320.0 (2003) Statement of Financial Position (Domestic Books) as required by the Financial Sector (Collection of Data) Act 2001. The decision follows APRA's consultation with relevant entities and their representative associations, with the majority in agreement that the information can be considered non-confidential. Notably, the Determination excludes sensitive information such as shareholder's equity, total income tax liability, and total tax provisions. The Determination provides a clear list of items to be published in the Monthly Banking Statistics, which includes selected assets, loans, and liabilities of individual banks.

Key Provisions

The Non-Confidentiality Determination No. 6 of 2005, issued by the Australian Prudential Regulation Authority (APRA) under section 57 of the Australian Prudential Regulation Authority Act 1998 (APRA Act), establishes that specific financial information submitted by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under the Reporting Standard ARS 320.0 (2003) is non-confidential. This determination aims to facilitate the publication of this information in APRA's Monthly Banking Statistics for May 2005. The determination outlines that certain data provided to APRA after the last confidentiality determination, specifically information from the Statement of Financial Position (Domestic Books), will be deemed non-confidential. However, it excludes sensitive information such as shareholder's equity, total income tax liability, and total tax provisions. Entities governed by the Determination, primarily locally-incorporated banks and foreign ADIs, must submit the specified financial data to APRA under the Financial Sector (Collection of Data) Act 2001. APRA is required to give these entities and their representative associations an opportunity to make representations regarding the confidentiality of the data before making its determination. Additionally, the determination mandates that the published data will not include sensitive financial information, ensuring a balance between transparency and the protection of proprietary details. Failure to comply with the requirements of the Non-Confidentiality Determination No. 6 of 2005 may result in legal consequences, although the determination itself does not explicitly outline specific penalties for non-compliance. However, under the APRA Act, unauthorised disclosure of confidential information could lead to criminal and civil penalties. In particular, section 56(2) of the APRA Act prohibits the unauthorised disclosure of confidential information, and breaches could result in significant fines and imprisonment, depending on the severity and intent of the breach. In summary, the Determination establishes the non-confidential status of specific financial data submitted by banks to APRA, mandates the inclusion of such data in Monthly Banking Statistics, and ensures that sensitive information remains protected. Compliance with these provisions is essential for maintaining regulatory transparency and protecting sensitive financial details.

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