Non-Confidentiality Determination No. 7 of 2005

Administered by Department of the Treasury

Legislation au F2005L02015 Not in force Legislative Instrument

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NON-CONFIDENTIALITY DETERMINATION NO. 7 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 (2005)]

 

 

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. 7 of 2005 (the ‘Determination’), made on 15 July 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 June 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 (2005) 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. 7 of 2005 under section 57 of the Australian Prudential Regulation Authority Act 1998. This determination was aimed at facilitating the publication of an edition of Monthly Banking Statistics that would include data for June 2005. The authority to make this determination is granted by subsection 56(5C) of the APRA Act, which allows for the non-disclosure of confidential information in reporting documents provided to APRA under the Financial Sector (Collection of Data) Act 2001. In making this determination, APRA took into account representations from relevant entities and bodies before concluding that certain information, specifically that provided by locally-incorporated banks and foreign authorised deposit-taking institutions under Reporting Standard ARS 320.0, was non-confidential. However, sensitive information such as shareholder equity, total income tax liability, and total tax provisions were excluded from this determination. This decision aligns with a strong public interest in the disclosure of such financial data.

Scope and Application

The Non-Confidentiality Determination No. 7 of 2005, issued by the Australian Prudential Regulation Authority (APRA) under section 57 of the Australian Prudential Regulation Authority Act 1998, pertains to the classification of certain information as non-confidential. Specifically, this Determination applies to information provided by locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs) under Reporting Standard ARS 320.0 (2005). The primary aim of this determination is to facilitate the publication of an edition of Monthly Banking Statistics, containing data for June 2005. The Determination ensures that APRA can disclose specific financial data from these entities without breaching confidentiality provisions, provided that the information is not of a sensitive nature, such as details relating to shareholder's equity, total income tax liability, and total tax provisions. This determination is made in consultation with industry stakeholders and follows a public consultation process initiated on 24 December 2003. The Office of Regulation Review has exempted APRA from providing a Regulation Impact Statement for this Determination.

Key Provisions

The main operative sections of the Determination (sections 1 to 6) detail the circumstances under which APRA can deem information non-confidential and subsequently publish it in the Monthly Banking Statistics. Section 1 establishes the authority under which APRA makes this determination. Section 2 specifies that the information covered by the Determination relates to Reporting Standard ARS 320.0 (2005) and applies to locally-incorporated banks and foreign authorised deposit-taking institutions (ADIs). Section 3 outlines the consultation process that APRA must follow before making the determination, ensuring that relevant parties have the opportunity to make representations. Section 4 identifies the specific types of information deemed non-confidential, while Section 5 lists the sensitive information excluded from this determination, such as details related to shareholders' equity and tax provisions. Section 6 specifies that this determination allows for the publication of the data in June 2005's edition of Monthly Banking Statistics. The Determination imposes obligations on APRA to consult with relevant entities before determining that certain information is non-confidential. This includes providing a reasonable opportunity for locally-incorporated banks, foreign ADIs, and their representative associations to make representations (section 3). Additionally, APRA must consider these representations when making its determination (section 5). The entities themselves are not subject to specific obligations beyond participating in the consultation process and providing their views on the confidentiality of the information. The Determination does not establish specific offences or penalties for breaches. However, it leverages the authority granted under the APRA Act. Section 56(5C) of the APRA Act ensures that disclosing information deemed non-confidential under this Determination is not an offence under section 56(2) of the APRA Act. Consequently, there are no penalties outlined for breaches within this Determination, as the focus is on facilitating the publication of non-confidential information rather than penalising non-compliance.

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