{"id":"F2023L01244","name":"National Consumer Credit Protection (Large ADI) Determination 2023","slug":"national-consumer-credit-protection-large-adi-determination-2023","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":442084,"registerId":"F2023L01244-fast-fetch-1775957191489","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"National Consumer Credit Protection (Large ADI) Determination 2023","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\ntitle: 220210_NCCPA Determination - Formated\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![Commonwealth Coat of Arms of Australia](image.001.jpeg)\n\n \n\nNational Consumer Credit Protection (Large ADI) Determination 2023\n\nI, Stephen Jones, Assistant Treasurer and Minister for Financial Services, make the following determination.\n\nDated   14 September 2023\n\n \n\nStephen Jones\n\nAssistant Treasurer  Minister for Financial Services\n\n \n\n \n\n \n\n \n\nContents\n\nPart 1—Preliminary\n\n1  Name \n\n2  Commencement\n\n3  Authority\n\n4  Definitions\n\nPart 2—Determining the kinds of ADIs that are large ADIs\n\n5  Size of an ADI\n\n6  Total resident assets value\n\n7  Reporting Standards\n\n8  Indexation of large ADI threshold\n\nPart 3—Transitional provision\n\n9  Transitional provision for large ADIs\n\nPart 1—Preliminary\n\n \n\n1  Name\n\n  This instrument is the National Consumer Credit Protection (Large ADI) Determination 2023.\n\n2  Commencement\n\n (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.\n\n \n\n- Commencement information\n- Column 1 Column 2 Column 3\n- Provisions Commencement Date/Details\n- 1. The whole of this instrument The day after this instrument is registered.\n\n\nNote: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.\n\n (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.\n\n3  Authority\n\n  This instrument is made under the National Consumer Credit Protection Act 2009.\n\n4  Definitions\n\nNote: Expressions have the same meaning in this instrument as in the National Consumer Credit Protection Act 2009 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.\n\nIn this instrument:\n\nfinal report means a report in relation to an ADI’s final reporting period in a financial year submitted by the ADI to APRA under:\n\n (a) Reporting Standard ARS 323.0; or\n\n (b) Reporting Standard ARS 720.0.\n\nfinancial year of an ADI has the meaning given by section 323D of the Corporations Act 2001.\n\nlarge ADI: see section 5.\n\nold determination means the Banking Executive Accountability Regime (Size of an Authorised Deposit-taking Institution) Determination 2021 as in force immediately before the commencement of Part 2 of Schedule 1 to the Financial Accountability Regime (Consequential Amendments) Act 2023.\n\nReporting Standard: see section 7.\n\nReporting Standard ARS 323.0 means the reporting standard set out in the Schedule to the Financial Sector (Collection of Data) (reporting standard) determination No. 27 of 2019.\n\nReporting Standard ARS 720.0 means the reporting standard set out in the Schedule to the Financial Sector (Collection of Data) (reporting standard) determination No. 25 of 2021.\n\nthe Act means the National Consumer Credit Protection Act 2009.\n\ntotal asset size: see section 5.\n\ntotal resident assets value: see section 6.\n\nPart 2—Determining the kinds of ADIs that are large ADIs\n\n \n\n5  Size of an ADI\n\n (1) Under subsection 5(1A) of the Act, the kinds of ADIs that are large ADIs, is determined by this section.\n\n (2) An ADI is a large ADI at a time during a financial year if the ADI’s total asset size at the start of the financial year is or exceeds $124 billion (indexed in accordance with section 8).\n\n (3) An ADI’s total asset size at the start of a financial year is:\n\n (a) if, as at the start of that financial year, the ADI has submitted a final report for only one earlier financial year—the ADI’s total resident assets value (see section 6) in that final report; or\n\n (b) if, as at the start of that financial year, the ADI has submitted final reports for only 2 earlier financial years—the average of the total resident assets value in the final report for each of those financial years; or\n\n (c) if, as at the start of that financial year, the ADI has submitted final reports for 3 or more earlier financial years—the average of the total resident assets value in the final report for each of the 3 most recent of those earlier financial years.\n\n (4) For the purposes of subsection (3), if an ADI has submitted final reports for a financial year under both Reporting Standard ARS 720.0 and Reporting Standard ARS 323.0, take into account only the total resident assets value in the final report under Reporting Standard ARS 720.0.\n\n6  Total resident assets value\n\n (1) An ADI’s total resident assets value in a final report is determined in accordance with this section.\n\n (2) If the report is under Reporting Standard ARS 323.0, the total resident assets value is the amount reported in Section A, item 11 Total assets in Form ARF 323.0 in that Reporting Standard.\n\n (3) If the report is under Reporting Standard ARS 720.0 and Form ARF 720.0A in that Reporting Standard, the total resident assets value is worked out in accordance with the following method:\n\nMethod Statement\n\nStep 1. Identify the amount reported in Section A, item 13 Total assets including intra‑group assets.\n\nStep 2. Subtract from the result of Step 1 the amount required to be reported in Section A, item 11.1 Total assets excluding intra‑group assets of which: Due from non‑residents.\n\nStep 3. Subtract from the result of Step 2 the amount required to be reported in Section A, item 12.1 Total intra‑group assets of which: Due from non‑residents.\n\n (4) If the report is under Reporting Standard ARS 720.0 and Form ARF 720.0B in that Reporting Standard, the total resident assets value is the amount reported in Section A, item 13 Total assets including intra‑group assets.\n\n7  Reporting Standards\n\n (1) If a provision (the referring provision) of this instrument refers, in relation to an ADI’s final reporting period in a financial year, to a Reporting Standard with a particular identifier, the referring provision is to be taken to refer to the version of the Reporting Standard with that identifier that applied to that reporting period because of a determination made under section 13 of the Financial Sector (Collection of Data) Act 2001.\n\nExample: Reporting Standard ARS 323.0.\n\n (2) However, if no version of that Reporting Standard applies to that reporting period because that Reporting Standard has been replaced by a Reporting Standard with a different identifier:\n\n (a) subsection (1) applies as if the referring provision referred instead to the Reporting Standard with the different identifier; and\n\n (b) if the referring provision also refers to particular material in the Reporting Standard that has been replaced, it is taken to refer instead to the corresponding material in the applicable version of the Reporting Standard with the different identifier.\n\n (3) In this section:\n\nidentifier means a combination of letters and numbers (with or without punctuation marks, and whether or not followed by a title).\n\n8  Indexation of large ADI threshold\n\n (1) The amount referred to subsection 5(2) is indexed in accordance with this section on 1 January 2024 and each 1 January after that.\n\n (2) The amount is indexed by:\n\n (a) multiplying the amount by its indexation factor worked out under this section; and\n\n (b) rounding the result down to the nearest multiple of $1 billion.\n\n (3) The indexation factor for the amount is the following fraction, calculated to 3 decimal places (but rounding up the third decimal place if the fourth decimal place would be 5 or more):\n\n \n\n![Formula: relevant GDP number divided by base GDP number](image.002.png)\n\n  where:\n\nbase GDP number is the annual estimate of the Gross Domestic Product: Current Prices‑Original series most recently published by the Australian Statistician for the financial year ending on 30 June 2022.\n\nrelevant GDP number is the first‑published annual estimate of the Gross Domestic Product: Current Prices‑Original series published by the Australian Statistician for the last financial year that ends before the 1 January on which the indexation occurs, disregarding any revisions of that estimate.\n\n (4) An indexation factor that is less than 1 is to be increased to 1.\n\nPart 3—Transitional provision\n\n9  Transitional provision for large ADIs\n\n  If an ADI was a large ADI under the old determination for the financial year in which this instrument commences, then despite section 5 of this instrument, the ADI continues to be a large ADI for the remainder of that financial year for the purpose of subsection 5(1A) of the Act.\n","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":5,"scope_assessment":{"changed":false,"description":"This Determination serves a narrow, technical purpose: defining 'large ADI' for the Financial Accountability Regime. It replaces the previous Banking Executive Accountability Regime (BEAR) size determination with updated thresholds and calculation methods, but does not expand beyond its original gatekeeping function. The scope remains tightly focused on institutional size classification."},"complexity_factors":["Multiple calculation methods for 'total resident assets value' depending on which APRA reporting form is used (Section 6)","Three-tier averaging formula based on years of available data (Section 5(3))","Cross-references to external APRA Reporting Standards (ARS 323.0 and ARS 720.0) and the Financial Sector (Collection of Data) Act 2001","Complex indexation formula using GDP statistics with specific rounding rules and a 'floor' of 1 (Section 8)","Transitional provision creating a grandfathering exception to the main rule (Section 9)","Incorporation by reference to the National Consumer Credit Protection Act 2009 and Corporations Act 2001 for definitions"],"plain_english_summary":"This Determination sets the gatekeeper for which deposit-taking institutions count as \"large ADIs\" for consumer credit protection and the Financial Accountability Regime. It applies a $124 billion total-resident-asset threshold (indexed annually by GDP growth), with asset size based on 1–3-year averaging of APRA reporting data and a grandfathering rule for existing large ADIs.\n\nThe classification affects major banks and credit unions (and APRA’s reporting/oversight) because being \"large\" brings stricter accountability obligations."},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":true,"description":"This instrument replaces the prior 'old determination' mechanism and sets a definitive $124 billion (indexed) numerical threshold and method for identifying large ADIs (s5). It prescribes how to calculate 'total resident assets' from specified APRA reporting standards and forms (s6), how to treat different versions of those Reporting Standards (s7), and an annual GDP‑based indexation process with rounding rules (s8). It also preserves prior large‑ADI status for the remainder of the financial year for institutions captured under the old determination (s9)."},"complexity_factors":["Multiple reporting standards and forms (ARS 323.0 and ARS 720.0) with different rules for extracting 'total resident assets' (s6(2)–(4)).","Averaging rule for total asset size varies by how many prior final reports exist (one, two, or three+ years) (s5(3)).","Indexation of the $124 billion threshold uses an ABS GDP ratio, specific rounding rules and a floor of 1 for the indexation factor (s8(2)–(4)).","Temporal/versioning complexity from referring to the applicable version of a Reporting Standard as determined under the Financial Sector (Collection of Data) Act, and mapping replaced identifiers to corresponding material (s7).","Continuity/transitional rule preserving status for ADIs previously classified under the old determination for the current financial year (s9).","Cross‑legislative references to the Corporations Act definition of financial year and to APRA reporting instruments create external dependencies (s4, definitions; s6)."],"plain_english_summary":"This instrument fixes which authorised deposit‑taking institutions (ADIs) count as “large ADIs” by setting a size threshold of $124 billion (indexed annually). It prescribes how an ADI’s size is calculated from APRA final reports under Reporting Standards ARS 323.0 or ARS 720.0, using a one‑to‑three‑year averaging rule.\n\nClassification as a large ADI determines which firms are subject to the National Consumer Credit Protection Act’s additional obligations; the instrument sets the GDP‑based indexation method and preserves existing large‑ADI status for the current financial year."}},"importantCases":[],"_links":{"self":"/api/acts/national-consumer-credit-protection-large-adi-determination-2023","history":"/api/acts/national-consumer-credit-protection-large-adi-determination-2023/history","analysis":"/api/acts/national-consumer-credit-protection-large-adi-determination-2023/analysis","conflicts":"/api/acts/national-consumer-credit-protection-large-adi-determination-2023/conflicts","importantCases":"/api/acts/national-consumer-credit-protection-large-adi-determination-2023/important-cases","documents":"/api/acts/national-consumer-credit-protection-large-adi-determination-2023/documents"}}