Reporting Standard ARS 320.5 (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This Act has been repealed and is no longer in force. It is retained for historical reference.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 instrument requires banks and listed special service providers (including foreign ADI branches) to submit Form ARF 320.5 to APRA—generally quarterly—disclosing securities held under repurchase/resale agreements and stock lending/borrowing, reported at market value and by counterparty. APRA collects the data for prudential supervision and may share it with the RBA and ABS. The rules set deadlines (20 business days), require board-approved authorisation controls and digital signatures for electronic lodgement, and give APRA discretion to alter frequency or vary form instructions.
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Direct links to the current provisions in Financial Sector (Collection of Data) determination No. 86 of 2005 - Reporting Standard ARS 320.5 (2005) - Securities Subject to Repurchase and Resale and Stock Lending and Borrowing.
This reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires all banks and special service providers, including those that are foreign ADIs operating in Australia through branch operations, to report to APRA, generally on a quarterly basis, in relation to securities subject to repurchase and resale and stock lending and borrowing.
This reporting standard outlines the overall requirements for the provision of relevant information to APRA. It should be read in conjunction with:
Application and commencement
Information required
(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.
Subject to paragraph 6, 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.
The information required by this reporting standard must be provided to APRA by 20 business days after the end of the reporting period to which it relates.
APRA may grant an ADI an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.
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.
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
14.15.In this reporting standard:
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.
foreign ADI means an ADI that is not incorporated in Australia;
relevant ADI means an ADI covered by paragraph 2 of this 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 Ltd).
15.16.If an ADI is not in the ADI list, then 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.
16.17.APRA may in writing determine that an ADI is taken to be a bank or special service provider for the purposes of this reporting standard (even if, under paragraph 15 or 16, it comes within a different classification).
Interpretation - other definitions
17.18.In this reporting standard:
business days means ordinary business days, exclusive of Saturdays, Sundays and public holidays.
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 5 or, if applicable, paragraph 6.
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 all banks and special service providers, including those that are foreign ADIs operating in Australia through branch operations, to report to APRA, generally on a quarterly basis, in relation to securities subject to repurchase and resale and stock lending and borrowing.
This reporting standard outlines the overall requirements for the provision of relevant information to APRA. It should be read in conjunction with:
Application and commencement
Information required
(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.
Subject to paragraph 6, 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.
The information required by this reporting standard must be provided to APRA by 20 business days after the end of the reporting period to which it relates.
APRA may grant an ADI an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.
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.
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
14.15.In this reporting standard:
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.
foreign ADI means an ADI that is not incorporated in Australia;
relevant ADI means an ADI covered by paragraph 2 of this 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 Ltd).
15.16.If an ADI is not in the ADI list, then 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.
16.17.APRA may in writing determine that an ADI is taken to be a bank or special service provider for the purposes of this reporting standard (even if, under paragraph 15 or 16, it comes within a different classification).
Interpretation - other definitions
17.18.In this reporting standard:
business days means ordinary business days, exclusive of Saturdays, Sundays and public holidays.
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 5 or, if applicable, paragraph 6.
This reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires all banks and special service providers, including those that are foreign ADIs operating in Australia through branch operations, to report to APRA, generally on a quarterly basis, in relation to securities subject to repurchase and resale and stock lending and borrowing.
This reporting standard outlines the overall requirements for the provision of relevant information to APRA. It should be read in conjunction with:
Application and commencement
Information required
(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.
Subject to paragraph 6, 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.
The information required by this reporting standard must be provided to APRA by 20 business days after the end of the reporting period to which it relates.
APRA may grant an ADI an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.
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.
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
14.15.In this reporting standard:
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.
foreign ADI means an ADI that is not incorporated in Australia;
relevant ADI means an ADI covered by paragraph 2 of this 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 Ltd).
15.16.If an ADI is not in the ADI list, then 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.
16.17.APRA may in writing determine that an ADI is taken to be a bank or special service provider for the purposes of this reporting standard (even if, under paragraph 15 or 16, it comes within a different classification).
Interpretation - other definitions
17.18.In this reporting standard:
business days means ordinary business days, exclusive of Saturdays, Sundays and public holidays.
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 5 or, if applicable, paragraph 6.
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.
Specific instructions
Refer to the sector definitions in the ARF 320.0 Statement of Financial Position (Domestic Books) instructions as a general guide for reporting by sector. In particular, care should be taken in reporting debt securities that appear to be issued by State, territory and local government (and therefore classified on this form as "Other debt securities"), which may actually be issued by Central Borrowing Authorities. State central borrowing authorities have taken over almost all bond issuance for funding required by state, territory and local governments.
Securities subject to repurchase and resale and Stock lending and borrowing
Repurchase/Resale agreements (repos) are undertaken for the purposes of liquidity management, increasing income generated from a security, and/or to minimise the cost of borrowing. Securities lending tends to take place to cover "short" positions in a security, and/or to increase income generated from a security. Repos and Securities lending are very similar, with only a very fine division between the two types of transactions. In both cases the arrangement involves the transfer of legal ownership of securities (debt or equity) between the original holder and "borrower", including the right for the "borrower" to on-sell the securities. However, in both transactions, the market risk on the security and right to holding gains (and losses) and income generated by the security remains with the original holder. Repos and securities lending both occur at a specified price with a commitment to repurchase the same or similar securities at a fixed price on a future date, which is specified in the contract or available on demand. Primarily the difference between Repos and Securities lending transactions is that Securities lending involves the payment of a fee to the "lender" as an incentive to agree to the transaction as it generates an additional return on the security. The fee is independent of any income that may be earned on the security. Repo transactions however generate interest income for the "borrower" although in certain circumstances where the cash provider ("borrower") as a specific need for a security, the borrowing rate could fall to zero.[1] Repos involve the provision of collateral and an exchange of cash whereas Securities lending doesn't necessarily involve cash exchange or collateral.
Securities subject to repurchase and resale
Report all securities (debt and equity) held under resale agreements and due for repurchase at the end of the reference period by counterparty to the agreement. Report all securities at market value.
Separate repurchase/resale agreements, even when with the same counterparty, should not be netted against each other if they involve different security types.
Include:
Stock lending and borrowing
Report all securities (debt and equity) borrowed and lent at the end of the reference period by counterparty to the agreement. Report all securities at market value.
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 all banks and special service providers, including those that are foreign ADIs operating in Australia through branch operations, to report to APRA, generally on a quarterly basis, in relation to securities subject to repurchase and resale and stock lending and borrowing.
This reporting standard outlines the overall requirements for the provision of relevant information to APRA. It should be read in conjunction with:
Application and commencement
Information required
(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.
Subject to paragraph 6, 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.
The information required by this reporting standard must be provided to APRA by 20 business days after the end of the reporting period to which it relates.
APRA may grant an ADI an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.
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.
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
14.15.In this reporting standard:
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.
foreign ADI means an ADI that is not incorporated in Australia;
relevant ADI means an ADI covered by paragraph 2 of this 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 Ltd).
15.16.If an ADI is not in the ADI list, then 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.
16.17.APRA may in writing determine that an ADI is taken to be a bank or special service provider for the purposes of this reporting standard (even if, under paragraph 15 or 16, it comes within a different classification).
Interpretation - other definitions
17.18.In this reporting standard:
business days means ordinary business days, exclusive of Saturdays, Sundays and public holidays.
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 5 or, if applicable, paragraph 6.
The ADI list
This is an opening excerpt, not the complete document.