Reporting Standard ARS 113.1 (2005)
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Commonwealth legislation
This Act has been repealed and is no longer in force. It is retained for historical reference.
This reporting standard obliges relevant ADIs — mainly non‑bank ADIs and banks APRA designates — to submit repricing‑analysis data to APRA (Forms ARF 113.1a/b) for prudential supervision; the RBA and ABS may also use the data (para 1; paras 3–4). It prescribes submission channels, due‑dates by ADI type, auditor review and internal controls, and grants APRA discretion to vary frequency and make minor form changes (paras 5,8,10,7,14).
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Direct links to the current provisions in Financial Sector (Collection of Data) determination No. 69 of 2005 - Reporting Standard ARS 113.1 (2005) - Repricing Analysis.
This reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires non-bank ADIs, and particular banks determined by APRA (including, where determined, foreign ADIs operating in Australia through branch operations), to report to APRA, generally on a quarterly basis, in relation to their repricing analysis.
This reporting standard outlines the overall requirements for the provision of relevant information to APRA. It should be read in conjunction with:
all of which are attached and form part of this reporting standard.
A relevant ADI must provide APRA with the information required by the versions of Form ARF 113.1a and Form ARF 113.1b designated for a ‘Licensed ADI’ for each reporting period.
A relevant ADI that is a highest parent entity in relation to a consolidated ADI group must also provide APRA with the information required by the versions of Form ARF 113.1a and Form 113.1b designated for a ‘Consolidated Group’ for each reporting period.
(a) in electronic form, using one of the electronic submission mechanisms provided by the ‘Direct to APRA’ (also known as ‘D2A’) application; or
(b) manually completed on paper, which must be faxed or mailed to APRA’s head office.
Note: the Direct to APRA application software and paper forms may be obtained from APRA.
Reporting periods and due dates
Subject to paragraph 7, a relevant ADI must provide the information required by this reporting standard for each quarter based on the financial year (within the meaning of the Corporations Act 2001) of the ADI.
APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular ADI, to require it to provide the information required by this reporting standard more frequently, or less frequently, having regard to:
(a) the particular circumstances of the ADI;
(b) the extent to which the information is required for the purposes of the prudential supervision of the ADI; and
(c) the requirements of the Reserve Bank of Australia or the Australian Bureau of Statistics.
(a) in the case of information required by paragraphs 3 and 4 from a locally-incorporated bank, locally-incorporated special service provider or foreign ADI (other than a specialist credit card institution) – 20 business days after the end of the reporting period to which the information relates; and
(b) in the case of information required by paragraphs 3 and 4 from a locally- incorporated credit union, locally-incorporated building society, specialist credit card institution (whether or not locally-incorporated) or Cairns Penny Savings & Loans Limited – 15 business days after the end of the reporting period to which the information relates.
The information provided by an ADI under this reporting standard (except for the information required under paragraph 4) must be the product of processes and controls that have been reviewed and tested by the external auditor of the ADI. AGS 1008 ‘Audit Implications of Prudential Reporting Requirements for Authorised Deposit-taking Institutions’, issued by the Auditing and Assurances Standards Board of the Australian Accounting Research Foundation, provides guidance on the scope and nature of the review and testing required from external auditors. This review and testing must be done on an annual basis or more frequently if necessary to enable the external auditor to form an opinion on the accuracy and reliability of the data.
All information provided by an ADI under this reporting standard must be subject to processes and controls developed by the ADI for the internal review and authorisation of that information. It is the responsibility of the board and senior management of the ADI to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.
Authorisation
If an ADI submits information under this reporting standard using the ‘Direct to APRA’ software, it will be necessary for an officer of the ADI to digitally sign, authorise and encrypt the relevant data. For this purpose, APRA’s certificate authority will issue ‘digital certificates’, for use with the software, to officers of the ADI who have authority from the ADI to transmit the data to APRA.
If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:
(a) the Principal Executive Officer of the ADI; or
(b) the Chief Financial Officer of the ADI (whatever his or her official title may be).
(a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or
(b) the instructions to a form, to clarify their application to the form
without changing any substantive requirement in the form or instructions.
Transitional
Interpretation - classifications of ADIs
Accounting Standard AASB 1024 means the accounting standard so designated made by the Australian Accounting Standards Board, being the accounting standard that applied in respect of reporting periods (within the meaning of the accounting standard) commencing immediately before 1 January 2005.
ADI means an authorised deposit-taking institution within the meaning of the Banking Act 1959.
ADI list means the attached ADI list.
bank means an ADI whose name appears under the heading ‘Australian-owned Banks’, ‘Foreign Subsidiary Banks’ or ‘Branches of Foreign Banks’ in the ADI list.
building society means an ADI whose name appears under the heading ‘Building Societies’ in the ADI list.
consolidated ADI group means a group comprising:
(a) an ADI that is a highest parent entity; and
(b) each subsidiary (within the meaning of Accounting Standard AASB 1024) of that ADI, whether the subsidiary is locally-incorporated or not, other than a subsidiary that is excluded by the instructions attached to this standard.
credit union means an ADI whose name appears under the heading ‘Credit Unions’ in the ADI list.
foreign ADI means an ADI that is not incorporated in Australia.
highest parent entity means an ADI that satisfies all of the following conditions:
(a) it is locally-incorporated;
(b) it has at least one subsidiary (within the meaning of Accounting Standard AASB 1024); and
(c) it is not itself a subsidiary (within the meaning of Accounting Standard AASB 1024) of an ADI that is locally-incorporated.
locally-incorporated means incorporated in Australia.
locally–incorporated bank means an ADI whose name appears under the heading ‘Australian-owned Banks’ or ‘Foreign Subsidiary Banks’ in the ADI list.
relevant ADI means:
(a) an ADI that is not a bank; and
(b) a bank if APRA has determined in writing that the bank is a relevant ADI for the purposes of either:
(i) this reporting standard (having regard to the particular circumstances of the bank and whether it is necessary or desirable to obtain the information required by this reporting standard for the purposes of the prudential supervision of that bank or to meet the requirements for data of the Reserve Bank of Australia or the Australian Bureau of Statistics); or
(ii) an old reporting standard (before this reporting standard came into effect), in accordance with paragraph (b) of the definition of relevant ADI in an old reporting standard.
special service provider means an ADI whose name appears under the heading ‘Other ADIs’ in the ADI list (other than Cairns Penny Savings & Loans Limited).
specialist credit card institution means an ADI whose name appears under the heading ‘Specialist Credit Card Institutions (SCCIs)’ in the ADI list.
(a) if the ADI assumes or uses the word ‘bank’ in relation to its financial business, it is taken to be a bank for the purposes of this reporting standard;
(b) if the ADI assumes or uses the word ‘bank’ in relation to its financial business, and it is locally-incorporated, it is taken to be a locally-incorporated bank for the purposes of this reporting standard;
(c) if the ADI assumes or uses the expression ‘building society’ in relation to its financial business, and it is locally-incorporated, it is taken to be a locally-incorporated building society for the purposes of this reporting standard;
(d) if the ADI assumes or uses the expression ‘credit union’, ‘credit society’ or ‘credit co-operative’ in relation to its financial business, and it is locally-incorporated, it is taken to be a locally-incorporated credit union for the purposes of this reporting standard; and
(e) if an ADI engages in credit card issuing or credit card acquiring, or both, and does not otherwise carry on banking business within the meaning of section 5 of the Banking Act 1959, it is taken to be a specialist credit card institution for the purposes of this reporting standard.
Interpretation - other definitions
business days means ordinary business days, exclusive of Saturdays, Sundays and public holidays.
old reporting standards means the reporting standards made under section 13 of the Collection of Data Act entitled Reporting Standard ARS 113.1 and Reporting Standard ARS 113.1 (2003).
Principal Executive Officer means the principal executive officer of the ADI for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the entity.
reporting period means a reporting period under paragraph 6 or, if applicable, paragraph 7.
The ADI list
Foreign-owned SCCIs
Locally Incorporated SCCIs
These companies are run by industry bodies and provide services (e.g. payments clearing) to member building societies and credit unions.
One ADI that provides general banking services which does not fall into the other categories.
This reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires non-bank ADIs, and particular banks determined by APRA (including, where determined, foreign ADIs operating in Australia through branch operations), to report to APRA, generally on a quarterly basis, in relation to their repricing analysis.
This reporting standard outlines the overall requirements for the provision of relevant information to APRA. It should be read in conjunction with:
all of which are attached and form part of this reporting standard.
A relevant ADI must provide APRA with the information required by the versions of Form ARF 113.1a and Form ARF 113.1b designated for a ‘Licensed ADI’ for each reporting period.
A relevant ADI that is a highest parent entity in relation to a consolidated ADI group must also provide APRA with the information required by the versions of Form ARF 113.1a and Form 113.1b designated for a ‘Consolidated Group’ for each reporting period.
(a) in electronic form, using one of the electronic submission mechanisms provided by the ‘Direct to APRA’ (also known as ‘D2A’) application; or
(b) manually completed on paper, which must be faxed or mailed to APRA’s head office.
Note: the Direct to APRA application software and paper forms may be obtained from APRA.
Reporting periods and due dates
Subject to paragraph 7, a relevant ADI must provide the information required by this reporting standard for each quarter based on the financial year (within the meaning of the Corporations Act 2001) of the ADI.
APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular ADI, to require it to provide the information required by this reporting standard more frequently, or less frequently, having regard to:
(a) the particular circumstances of the ADI;
(b) the extent to which the information is required for the purposes of the prudential supervision of the ADI; and
(c) the requirements of the Reserve Bank of Australia or the Australian Bureau of Statistics.
(a) in the case of information required by paragraphs 3 and 4 from a locally-incorporated bank, locally-incorporated special service provider or foreign ADI (other than a specialist credit card institution) – 20 business days after the end of the reporting period to which the information relates; and
(b) in the case of information required by paragraphs 3 and 4 from a locally- incorporated credit union, locally-incorporated building society, specialist credit card institution (whether or not locally-incorporated) or Cairns Penny Savings & Loans Limited – 15 business days after the end of the reporting period to which the information relates.
The information provided by an ADI under this reporting standard (except for the information required under paragraph 4) must be the product of processes and controls that have been reviewed and tested by the external auditor of the ADI. AGS 1008 ‘Audit Implications of Prudential Reporting Requirements for Authorised Deposit-taking Institutions’, issued by the Auditing and Assurances Standards Board of the Australian Accounting Research Foundation, provides guidance on the scope and nature of the review and testing required from external auditors. This review and testing must be done on an annual basis or more frequently if necessary to enable the external auditor to form an opinion on the accuracy and reliability of the data.
All information provided by an ADI under this reporting standard must be subject to processes and controls developed by the ADI for the internal review and authorisation of that information. It is the responsibility of the board and senior management of the ADI to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.
Authorisation
If an ADI submits information under this reporting standard using the ‘Direct to APRA’ software, it will be necessary for an officer of the ADI to digitally sign, authorise and encrypt the relevant data. For this purpose, APRA’s certificate authority will issue ‘digital certificates’, for use with the software, to officers of the ADI who have authority from the ADI to transmit the data to APRA.
If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:
(a) the Principal Executive Officer of the ADI; or
(b) the Chief Financial Officer of the ADI (whatever his or her official title may be).
(a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or
(b) the instructions to a form, to clarify their application to the form
without changing any substantive requirement in the form or instructions.
Transitional
Interpretation - classifications of ADIs
Accounting Standard AASB 1024 means the accounting standard so designated made by the Australian Accounting Standards Board, being the accounting standard that applied in respect of reporting periods (within the meaning of the accounting standard) commencing immediately before 1 January 2005.
ADI means an authorised deposit-taking institution within the meaning of the Banking Act 1959.
ADI list means the attached ADI list.
bank means an ADI whose name appears under the heading ‘Australian-owned Banks’, ‘Foreign Subsidiary Banks’ or ‘Branches of Foreign Banks’ in the ADI list.
building society means an ADI whose name appears under the heading ‘Building Societies’ in the ADI list.
consolidated ADI group means a group comprising:
(a) an ADI that is a highest parent entity; and
(b) each subsidiary (within the meaning of Accounting Standard AASB 1024) of that ADI, whether the subsidiary is locally-incorporated or not, other than a subsidiary that is excluded by the instructions attached to this standard.
credit union means an ADI whose name appears under the heading ‘Credit Unions’ in the ADI list.
foreign ADI means an ADI that is not incorporated in Australia.
highest parent entity means an ADI that satisfies all of the following conditions:
(a) it is locally-incorporated;
(b) it has at least one subsidiary (within the meaning of Accounting Standard AASB 1024); and
(c) it is not itself a subsidiary (within the meaning of Accounting Standard AASB 1024) of an ADI that is locally-incorporated.
locally-incorporated means incorporated in Australia.
locally–incorporated bank means an ADI whose name appears under the heading ‘Australian-owned Banks’ or ‘Foreign Subsidiary Banks’ in the ADI list.
relevant ADI means:
(a) an ADI that is not a bank; and
(b) a bank if APRA has determined in writing that the bank is a relevant ADI for the purposes of either:
(i) this reporting standard (having regard to the particular circumstances of the bank and whether it is necessary or desirable to obtain the information required by this reporting standard for the purposes of the prudential supervision of that bank or to meet the requirements for data of the Reserve Bank of Australia or the Australian Bureau of Statistics); or
(ii) an old reporting standard (before this reporting standard came into effect), in accordance with paragraph (b) of the definition of relevant ADI in an old reporting standard.
special service provider means an ADI whose name appears under the heading ‘Other ADIs’ in the ADI list (other than Cairns Penny Savings & Loans Limited).
specialist credit card institution means an ADI whose name appears under the heading ‘Specialist Credit Card Institutions (SCCIs)’ in the ADI list.
(a) if the ADI assumes or uses the word ‘bank’ in relation to its financial business, it is taken to be a bank for the purposes of this reporting standard;
(b) if the ADI assumes or uses the word ‘bank’ in relation to its financial business, and it is locally-incorporated, it is taken to be a locally-incorporated bank for the purposes of this reporting standard;
(c) if the ADI assumes or uses the expression ‘building society’ in relation to its financial business, and it is locally-incorporated, it is taken to be a locally-incorporated building society for the purposes of this reporting standard;
(d) if the ADI assumes or uses the expression ‘credit union’, ‘credit society’ or ‘credit co-operative’ in relation to its financial business, and it is locally-incorporated, it is taken to be a locally-incorporated credit union for the purposes of this reporting standard; and
(e) if an ADI engages in credit card issuing or credit card acquiring, or both, and does not otherwise carry on banking business within the meaning of section 5 of the Banking Act 1959, it is taken to be a specialist credit card institution for the purposes of this reporting standard.
Interpretation - other definitions
business days means ordinary business days, exclusive of Saturdays, Sundays and public holidays.
old reporting standards means the reporting standards made under section 13 of the Collection of Data Act entitled Reporting Standard ARS 113.1 and Reporting Standard ARS 113.1 (2003).
Principal Executive Officer means the principal executive officer of the ADI for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the entity.
reporting period means a reporting period under paragraph 6 or, if applicable, paragraph 7.
This reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires non-bank ADIs, and particular banks determined by APRA (including, where determined, foreign ADIs operating in Australia through branch operations), to report to APRA, generally on a quarterly basis, in relation to their repricing analysis.
This reporting standard outlines the overall requirements for the provision of relevant information to APRA. It should be read in conjunction with:
all of which are attached and form part of this reporting standard.
A relevant ADI must provide APRA with the information required by the versions of Form ARF 113.1a and Form ARF 113.1b designated for a ‘Licensed ADI’ for each reporting period.
A relevant ADI that is a highest parent entity in relation to a consolidated ADI group must also provide APRA with the information required by the versions of Form ARF 113.1a and Form 113.1b designated for a ‘Consolidated Group’ for each reporting period.
(a) in electronic form, using one of the electronic submission mechanisms provided by the ‘Direct to APRA’ (also known as ‘D2A’) application; or
(b) manually completed on paper, which must be faxed or mailed to APRA’s head office.
Note: the Direct to APRA application software and paper forms may be obtained from APRA.
Reporting periods and due dates
Subject to paragraph 7, a relevant ADI must provide the information required by this reporting standard for each quarter based on the financial year (within the meaning of the Corporations Act 2001) of the ADI.
APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular ADI, to require it to provide the information required by this reporting standard more frequently, or less frequently, having regard to:
(a) the particular circumstances of the ADI;
(b) the extent to which the information is required for the purposes of the prudential supervision of the ADI; and
(c) the requirements of the Reserve Bank of Australia or the Australian Bureau of Statistics.
(a) in the case of information required by paragraphs 3 and 4 from a locally-incorporated bank, locally-incorporated special service provider or foreign ADI (other than a specialist credit card institution) – 20 business days after the end of the reporting period to which the information relates; and
(b) in the case of information required by paragraphs 3 and 4 from a locally- incorporated credit union, locally-incorporated building society, specialist credit card institution (whether or not locally-incorporated) or Cairns Penny Savings & Loans Limited – 15 business days after the end of the reporting period to which the information relates.
The information provided by an ADI under this reporting standard (except for the information required under paragraph 4) must be the product of processes and controls that have been reviewed and tested by the external auditor of the ADI. AGS 1008 ‘Audit Implications of Prudential Reporting Requirements for Authorised Deposit-taking Institutions’, issued by the Auditing and Assurances Standards Board of the Australian Accounting Research Foundation, provides guidance on the scope and nature of the review and testing required from external auditors. This review and testing must be done on an annual basis or more frequently if necessary to enable the external auditor to form an opinion on the accuracy and reliability of the data.
All information provided by an ADI under this reporting standard must be subject to processes and controls developed by the ADI for the internal review and authorisation of that information. It is the responsibility of the board and senior management of the ADI to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.
Authorisation
If an ADI submits information under this reporting standard using the ‘Direct to APRA’ software, it will be necessary for an officer of the ADI to digitally sign, authorise and encrypt the relevant data. For this purpose, APRA’s certificate authority will issue ‘digital certificates’, for use with the software, to officers of the ADI who have authority from the ADI to transmit the data to APRA.
If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:
(a) the Principal Executive Officer of the ADI; or
(b) the Chief Financial Officer of the ADI (whatever his or her official title may be).
(a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or
(b) the instructions to a form, to clarify their application to the form
without changing any substantive requirement in the form or instructions.
Transitional
Interpretation - classifications of ADIs
Accounting Standard AASB 1024 means the accounting standard so designated made by the Australian Accounting Standards Board, being the accounting standard that applied in respect of reporting periods (within the meaning of the accounting standard) commencing immediately before 1 January 2005.
ADI means an authorised deposit-taking institution within the meaning of the Banking Act 1959.
ADI list means the attached ADI list.
bank means an ADI whose name appears under the heading ‘Australian-owned Banks’, ‘Foreign Subsidiary Banks’ or ‘Branches of Foreign Banks’ in the ADI list.
building society means an ADI whose name appears under the heading ‘Building Societies’ in the ADI list.
consolidated ADI group means a group comprising:
(a) an ADI that is a highest parent entity; and
(b) each subsidiary (within the meaning of Accounting Standard AASB 1024) of that ADI, whether the subsidiary is locally-incorporated or not, other than a subsidiary that is excluded by the instructions attached to this standard.
credit union means an ADI whose name appears under the heading ‘Credit Unions’ in the ADI list.
foreign ADI means an ADI that is not incorporated in Australia.
highest parent entity means an ADI that satisfies all of the following conditions:
(a) it is locally-incorporated;
(b) it has at least one subsidiary (within the meaning of Accounting Standard AASB 1024); and
(c) it is not itself a subsidiary (within the meaning of Accounting Standard AASB 1024) of an ADI that is locally-incorporated.
locally-incorporated means incorporated in Australia.
locally–incorporated bank means an ADI whose name appears under the heading ‘Australian-owned Banks’ or ‘Foreign Subsidiary Banks’ in the ADI list.
relevant ADI means:
(a) an ADI that is not a bank; and
(b) a bank if APRA has determined in writing that the bank is a relevant ADI for the purposes of either:
(i) this reporting standard (having regard to the particular circumstances of the bank and whether it is necessary or desirable to obtain the information required by this reporting standard for the purposes of the prudential supervision of that bank or to meet the requirements for data of the Reserve Bank of Australia or the Australian Bureau of Statistics); or
(ii) an old reporting standard (before this reporting standard came into effect), in accordance with paragraph (b) of the definition of relevant ADI in an old reporting standard.
special service provider means an ADI whose name appears under the heading ‘Other ADIs’ in the ADI list (other than Cairns Penny Savings & Loans Limited).
specialist credit card institution means an ADI whose name appears under the heading ‘Specialist Credit Card Institutions (SCCIs)’ in the ADI list.
(a) if the ADI assumes or uses the word ‘bank’ in relation to its financial business, it is taken to be a bank for the purposes of this reporting standard;
(b) if the ADI assumes or uses the word ‘bank’ in relation to its financial business, and it is locally-incorporated, it is taken to be a locally-incorporated bank for the purposes of this reporting standard;
(c) if the ADI assumes or uses the expression ‘building society’ in relation to its financial business, and it is locally-incorporated, it is taken to be a locally-incorporated building society for the purposes of this reporting standard;
(d) if the ADI assumes or uses the expression ‘credit union’, ‘credit society’ or ‘credit co-operative’ in relation to its financial business, and it is locally-incorporated, it is taken to be a locally-incorporated credit union for the purposes of this reporting standard; and
(e) if an ADI engages in credit card issuing or credit card acquiring, or both, and does not otherwise carry on banking business within the meaning of section 5 of the Banking Act 1959, it is taken to be a specialist credit card institution for the purposes of this reporting standard.
Interpretation - other definitions
business days means ordinary business days, exclusive of Saturdays, Sundays and public holidays.
old reporting standards means the reporting standards made under section 13 of the Collection of Data Act entitled Reporting Standard ARS 113.1 and Reporting Standard ARS 113.1 (2003).
Principal Executive Officer means the principal executive officer of the ADI for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the entity.
reporting period means a reporting period under paragraph 6 or, if applicable, paragraph 7.
The ADI list
Foreign-owned SCCIs
Locally Incorporated SCCIs
These companies are run by industry bodies and provide services (e.g. payments clearing) to member building societies and credit unions.
One ADI that provides general banking services which does not fall into the other categories.
Foreign-owned SCCIs
Locally Incorporated SCCIs
These companies are run by industry bodies and provide services (e.g. payments clearing) to member building societies and credit unions.
One ADI that provides general banking services which does not fall into the other categories.
The Repricing Analysis form is to be completed by Banks[1], Credit Unions, Cairns Penny Savings & Loans Limited, Building Societies, Specialist Credit Card Institutions (SCCIs) and Special Service Providers on both a Licensed ADI and Consolidated ADI Group basis (where applicable).
Foreign ADIs[1] and Specialist Credit Card Institutions (SCCIs) operating through branches in Australia are required to complete this form for the Australian branch only.
This refers to the operations of the reporting ADI on a stand-alone basis.
This refers to the global operations of the ADI and all its controlled entities (where relevant), consolidated in accordance with Australian accounting standards (AASB 1024).
‘Controlled entity’, ‘parent entity’. These terms are defined in accordance with AASB 1024 ‘Consolidated Accounts’.
The basis of consolidation required in this form is in accordance with the prudential Consolidated ADI Group. The prudential consolidated group should also be determined in accordance with Australian accounting standards, notably AASB 1024 ‘Consolidated Accounts’ with the following modifications:
(1) Include the following:
(2) Exclude subsidiary entities involved in the following business activities:
The form is to be completed as at the last day of the stated reporting quarter, unless the forms are completed on a more frequent basis as required by APRA. Locally incorporated banks, Foreign ADIs (other than specialist credit card institutions) and Special Service Providers should submit the completed form to APRA within 20 business days after the end of the relevant reporting quarter. Credit Unions, Cairns Penny Savings & Loans Limited, Building Societies and Specialist Credit Card Institutions (SCCIs) should submit the completed form to APRA within 15 business days after the end of the relevant reporting quarter.
Banks are asked to complete the form in millions of Australian dollars rounded to one decimal place. Special Service Providers, Building Societies, Credit Unions, Specialist Credit Card Institutions (SCCIs) and Cairns Penny Savings & Loans Limited are asked to complete the form in whole Australian dollars (no decimal place).
Amounts denominated in foreign currency are to be converted to AUD in accordance with AASB 1012 ‘Foreign Currency Translation’.
The general requirements of AASB 1012 for translation are:
Monetary items are defined to mean money held and assets and liabilities that are to be received or paid in fixed or determinable amounts of money.
Monetary items arising under foreign currency derivative contracts at the reporting date must be translated as follows:
The measurement of on balance sheet items is to be consistent with the measurement basis adopted by institutions in accordance with Australian accounting standards.
Instruments are to be measured consistent with the nature of purpose of use and with the applicable accounting pronouncements. As a guide we recommend:
For derivative instruments used for hedging assets/liabilities (specific positions or portfolios) in the banking book where the items are recorded on the basis of the lower of cost or recoverable value, the face value of the derivative instruments is to be used.
For derivative instruments used for trading purposes (position taking and hedging of trading portfolios/positions where the underlying values are recorded at market value), the market value of the derivative instrument is to be used.
For other commitments:
These would include unused credit card and overdraft facilities, loans approved not advanced, standby facilities offered by the ADI etc.
Specific instructions
Measurement of assets, liabilities and equity:
Unless specifically advised, the measurement of assets, liabilities and equity items for the repricing analysis is to be completed consistent with the approach used by the institution in complying with AASB 1033 ‘Presentation and Disclosure of Financial Instruments’.
Repricing profile:
We recommend that where possible the repricing analysis should be completed on the basis of the expected repricing profile of assets and liabilities, rather than the contractual repricing (i.e. contractual loan repayment rates) or original maturity. The expected repricing profile of assets and liabilities should take into account expected loan prepayment/amortisation rates and deposit portfolio run-off, rather than contractual repricing where these are expected to be materially different. The absence of prepayment penalties/break clauses should be considered for fixed rate products when determining the amount recorded in the respective time bucket.
If a portfolio of assets (e.g. the trading portfolio) is managed for risk management purposes against a benchmark portfolio or index, it is acceptable to use the repricing profile of the nominated benchmark or index.
The time buckets on the form indicate the periods when the interest rates applying to portfolios (e.g. investments, loans, deposits and borrowings) will reprice (i.e. term to next interest rate repricing/change). They do not indicate the residual term of the original maturity of the instrument itself, however the two may coincide (e.g. bank bills, term deposits/money market loans).
In the case of variable rate loans for example, they do not have a fixed repricing term. Accordingly these should be included in either the 0 to 1 months or 1 to 3 months time bucket, depending on the time frame the institution expects to take to adjust its variable rates after movements in the official or market rate. A 20 year residential loan with a two year fixed interest rate would be included in the 1-2 year time bucket (when the interest rate on the loan will next change/reprice) and not the >5 year time bucket (reflecting the maturity/repayment of the loan). In subsequent quarters, as the term of this fixed interest rate runs its course, it would be included in the 6 -12 month category and so on.
Not all assets and liabilities would be exposed to interest rate risk. Such items should be classified as Non Interest Rate Sensitive Assets/Liabilities.
Shareholders equity should be placed in the non interest rate sensitive bucket, unless analysis has been performed and presented to APRA to indicate another repricing profile.
Several validation rules have been applied to assist you in this process.
Measurement of off balance sheet exposures
Other commitments should only be included where the timing is known. For example a loan approved but not advanced where a 2 year fixed rate has been offered to the borrower should be included in the 1 to 2 year time bucket. Whereas a loan approved but not advanced where no rate has been locked in would typically be recorded in the 0 to 1 month bucket.
For derivative instruments the underlying cash flows should be recorded with the correct sign. Examples of swaps, futures and FRAs are described below.
For an interest rate swap, the fixed leg should be allocated to the time bucket corresponding to the residual maturity of the swap and the floating leg should be allocated to the time bucket corresponding to the next rate reset date. Additionally the pay side should be recorded as negative the face value, whilst the receive side should be recorded as positive the face value.
Example 1:
An ADI enters into a 3 year swap with a face value of $5M, under which the ADI pays fixed, receives floating with quarterly resets. The swap should be initially recorded in the repricing analysis form as negative $5M in the 2 to 3 year time bucket (as the swap has a residual maturity of 3 years) and positive $5M in the 1 to 3 month time bucket (as the next interest rate reset date occurs in 3 months time. See table below.
| Total | 1 to 3 Months | 2 to 3 years | |
|---|---|---|---|
| Swaps | 0 | +5,000,000 | -5,000,000 |
In subsequent quarters the two legs of the swap would be allocated to different time buckets, where appropriate, such that the fixed leg corresponds to the residual maturity of the swap and the floating leg corresponds to the next rate reset date.
Example 2:
On 11 June 2003 an ADI enters into a 4.5 year swap with a face value of $10M, under which the ADI receives fixed, pays floating with semi annual resets. The swap should be recorded in the repricing analysis form as at 30 June 2003 as positive $10M in the 4 to 5 years time bucket (as the swap has a residual maturity of just less than 4.5 years) and negative $10M in the 3 to 6 month time bucket (as the next reset date of 11 December 2003 occurs in just under 6 months time).
In subsequent quarters the two legs of the swap would be allocated to different time buckets, as appropriate. Using example 2 to illustrate this, on 30 September 2003 the swap should be recorded as positive $10M in the 4 to 5 year time bucket and negative $10M in the 1 to 3 month time bucket (as the next reset date of 11 December 2003 has moved into the 1 to 3 month bucket). Subsequently on 31 December 2003 the swap should be recorded as positive $10M in the 3 to 4 years time bucket (as the swap now has a residual maturity of just less than 4 years) and a negative $10M in the 3 to 6 month time bucket (as the next reset date is 11 June 2004).
Futures
For a futures contract the face value should be allocated to time buckets according to the cash flows of the underlying physical instrument.
Example 1:
On 25 June 2003 an ADI purchases 20 Sydney Futures Exchange (SFE) September 2003 90 day bank bill futures contracts. This transaction results in a notional cash outflow in September 2003 to purchase the underlying physical 90 day bank bills and a notional cash inflow in December 2003 when the bank bills mature. This futures transaction should be recorded in the 30 June 2003 repricing analysis form as negative $20M in the 1 to 3 month time bucket (as the underlying physical bills will be purchased in 3 months time) and positive $20M in the 3 to 6 month time bucket (as the bills mature in 6 months time). See the table below.
| Total | 1 to 3 Months | 3 to 6 Months | |
|---|---|---|---|
| Futures & FRAs | 0 | -20,000,000 | +20,000,000 |
Example 2:
On 23rd September 2003 an ADI sells 15 March 2004 bank bill futures contracts. This transaction results in a notional cash inflow in March 2004 when the ADI sells the bank bills and a notional cash outflow in June 2004 when the bank bills mature. This futures transaction would be recorded in the 30th September 2003 repricing analysis form as positive $15M in the 3 to 6 month time bucket (as the physical bills will be sold in 6 months time) and negative $15M in the 6 to 12 month time bucket (as the physical bills mature in 9 months time).
In subsequent quarters the futures transaction is allocated to different time buckets, as appropriate. Using example 2 for bill futures to illustrate this, on 31 December 2003 the positive $15M would have moved into the 1 to 3 month time bucket and the negative $15M would have moved into the 3 to 6 month time bucket.
The approach described above for allocating bought and sold bank bill futures to the repricing analysis form also applies to bond futures.
Forward rate agreements (FRA’s)
As with a futures contract, a FRA contract is similarly broken down into the underlying notional cash flows. A FRA 2/5 for $50M as a lender (also termed receiver {of interest}) would be reported as a negative $50M in the 1 to 3 month time bucket and positive $50M in the 3 to 6 month time bucket. This represents lending $50M in 2 months time until 5 months.
| Total | 1 to 3 Months | 3 to 6 Months | |
|---|---|---|---|
| Futures & FRAs | 0 | -50,000,000 | +50,000,000 |
A FRA1/4 for $100M as a borrower (also termed payer {of interest}) would be represented as a positive $100M in the 0 to 1 month time bucket and a negative $100M in the 3 to 6 month time bucket.
Options
Where options are used to hedge interest rate risk in the banking book APRA should be consulted, before completing the report.
Note on References to Accounting Standards
This Note is about references in these instructions to an accounting standard or accounting standards, e.g. where the instructions say that something must be done in accordance with a particular AASB or international accounting standard, or must be done in accordance with the accounting standards (however described) generally.
Where you see such a reference, you must read it as meaning the version of the accounting standard, or versions of the accounting standards, applying to reporting periods (within the meaning of the accounting standards) beginning immediately before 1 January 2005.
Accordingly, the new AASB standards for 2005 are not to be applied.
Similarly, a reference to principles or conventions (however described) governing an accounting procedure or treatment shall be taken to refer to principles or conventions applicable in relation to reporting periods (within the meaning of the accounting standards) that began immediately before 1 January 2005.
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
This reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires non-bank ADIs, and particular banks determined by APRA (including, where determined, foreign ADIs operating in Australia through branch operations), to report to APRA, generally on a quarterly basis, in relation to their repricing analysis.
This reporting standard outlines the overall requirements for the provision of relevant information to APRA. It should be read in conjunction with:
all of which are attached and form part of this reporting standard.
A relevant ADI must provide APRA with the information required by the versions of Form ARF 113.1a and Form ARF 113.1b designated for a ‘Licensed ADI’ for each reporting period.
A relevant ADI that is a highest parent entity in relation to a consolidated ADI group must also provide APRA with the information required by the versions of Form ARF 113.1a and Form 113.1b designated for a ‘Consolidated Group’ for each reporting period.
(a) in electronic form, using one of the electronic submission mechanisms provided by the ‘Direct to APRA’ (also known as ‘D2A’) application; or
(b) manually completed on paper, which must be faxed or mailed to APRA’s head office.
Note: the Direct to APRA application software and paper forms may be obtained from APRA.
Reporting periods and due dates
Subject to paragraph 7, a relevant ADI must provide the information required by this reporting standard for each quarter based on the financial year (within the meaning of the Corporations Act 2001) of the ADI.
APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular ADI, to require it to provide the information required by this reporting standard more frequently, or less frequently, having regard to:
(a) the particular circumstances of the ADI;
(b) the extent to which the information is required for the purposes of the prudential supervision of the ADI; and
(c) the requirements of the Reserve Bank of Australia or the Australian Bureau of Statistics.
(a) in the case of information required by paragraphs 3 and 4 from a locally-incorporated bank, locally-incorporated special service provider or foreign ADI (other than a specialist credit card institution) – 20 business days after the end of the reporting period to which the information relates; and
(b) in the case of information required by paragraphs 3 and 4 from a locally- incorporated credit union, locally-incorporated building society, specialist credit card institution (whether or not locally-incorporated) or Cairns Penny Savings & Loans Limited – 15 business days after the end of the reporting period to which the information relates.
The information provided by an ADI under this reporting standard (except for the information required under paragraph 4) must be the product of processes and controls that have been reviewed and tested by the external auditor of the ADI. AGS 1008 ‘Audit Implications of Prudential Reporting Requirements for Authorised Deposit-taking Institutions’, issued by the Auditing and Assurances Standards Board of the Australian Accounting Research Foundation, provides guidance on the scope and nature of the review and testing required from external auditors. This review and testing must be done on an annual basis or more frequently if necessary to enable the external auditor to form an opinion on the accuracy and reliability of the data.
All information provided by an ADI under this reporting standard must be subject to processes and controls developed by the ADI for the internal review and authorisation of that information. It is the responsibility of the board and senior management of the ADI to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.
Authorisation
If an ADI submits information under this reporting standard using the ‘Direct to APRA’ software, it will be necessary for an officer of the ADI to digitally sign, authorise and encrypt the relevant data. For this purpose, APRA’s certificate authority will issue ‘digital certificates’, for use with the software, to officers of the ADI who have authority from the ADI to transmit the data to APRA.
If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:
(a) the Principal Executive Officer of the ADI; or
(b) the Chief Financial Officer of the ADI (whatever his or her official title may be).
(a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or
(b) the instructions to a form, to clarify their application to the form
without changing any substantive requirement in the form or instructions.
Transitional
Interpretation - classifications of ADIs
Accounting Standard AASB 1024 means the accounting standard so designated made by the Australian Accounting Standards Board, being the accounting standard that applied in respect of reporting periods (within the meaning of the accounting standard) commencing immediately before 1 January 2005.
ADI means an authorised deposit-taking institution within the meaning of the Banking Act 1959.
ADI list means the attached ADI list.
bank means an ADI whose name appears under the heading ‘Australian-owned Banks’, ‘Foreign Subsidiary Banks’ or ‘Branches of Foreign Banks’ in the ADI list.
building society means an ADI whose name appears under the heading ‘Building Societies’ in the ADI list.
consolidated ADI group means a group comprising:
(a) an ADI that is a highest parent entity; and
(b) each subsidiary (within the meaning of Accounting Standard AASB 1024) of that ADI, whether the subsidiary is locally-incorporated or not, other than a subsidiary that is excluded by the instructions attached to this standard.
credit union means an ADI whose name appears under the heading ‘Credit Unions’ in the ADI list.
foreign ADI means an ADI that is not incorporated in Australia.
highest parent entity means an ADI that satisfies all of the following conditions:
(a) it is locally-incorporated;
(b) it has at least one subsidiary (within the meaning of Accounting Standard AASB 1024); and
(c) it is not itself a subsidiary (within the meaning of Accounting Standard AASB 1024) of an ADI that is locally-incorporated.
locally-incorporated means incorporated in Australia.
locally–incorporated bank means an ADI whose name appears under the heading ‘Australian-owned Banks’ or ‘Foreign Subsidiary Banks’ in the ADI list.
relevant ADI means:
(a) an ADI that is not a bank; and
(b) a bank if APRA has determined in writing that the bank is a relevant ADI for the purposes of either:
(i) this reporting standard (having regard to the particular circumstances of the bank and whether it is necessary or desirable to obtain the information required by this reporting standard for the purposes of the prudential supervision of that bank or to meet the requirements for data of the Reserve Bank of Australia or the Australian Bureau of Statistics); or
(ii) an old reporting standard (before this reporting standard came into effect), in accordance with paragraph (b) of the definition of relevant ADI in an old reporting standard.
special service provider means an ADI whose name appears under the heading ‘Other ADIs’ in the ADI list (other than Cairns Penny Savings & Loans Limited).
specialist credit card institution means an ADI whose name appears under the heading ‘Specialist Credit Card Institutions (SCCIs)’ in the ADI list.
(a) if the ADI assumes or uses the word ‘bank’ in relation to its financial business, it is taken to be a bank for the purposes of this reporting standard;
(b) if the ADI assumes or uses the word ‘bank’ in relation to its financial business, and it is locally-incorporated, it is taken to be a locally-incorporated bank for the purposes of this reporting standard;
(c) if the ADI assumes or uses the expression ‘building society’ in relation to its financial business, and it is locally-incorporated, it is taken to be a locally-incorporated building society for the purposes of this reporting standard;
(d) if the ADI assumes or uses the expression ‘credit union’, ‘credit society’ or ‘credit co-operative’ in relation to its financial business, and it is locally-incorporated, it is taken to be a locally-incorporated credit union for the purposes of this reporting standard; and
(e) if an ADI engages in credit card issuing or credit card acquiring, or both, and does not otherwise carry on banking business within the meaning of section 5 of the Banking Act 1959, it is taken to be a specialist credit card institution for the purposes of this reporting standard.
Interpretation - other definitions
business days means ordinary business days, exclusive of Saturdays, Sundays and public holidays.
old reporting standards means the reporting standards made under section 13 of the Collection of Data Act entitled Reporting Standard ARS 113.1 and Reporting Standard ARS 113.1 (2003).
Principal Executive Officer means the principal executive officer of the ADI for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the entity.
reporting period means a reporting period under paragraph 6 or, if applicable, paragraph 7.
The ADI list
This is an opening excerpt, not the complete document.