Financial Sector (Collection of Data) determination No. 87 of 2005 - Reporting Standard ARS 320.7 (2005) - Deposits and Loans Classified by State and Territory
Licensed ADILicensed ADI
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Licensed ADI
This refers to the operations of the reporting ADI on a stand-alone basis.
Reporting period
For Locally incorporated banks, Foreign ADIs and Special Service Providers, the form is to be completed as at the last day of the reporting month. The completed form should be submitted to APRA within 10 business days after the end of the relevant reporting month.
For Credit Unions, Cairns Penny Savings & Loans Limited, Building Societies and Specialist Credit Card Institutions (SCCIs), the form is to be completed as at the last day of the stated reporting quarter (i.e. September and December, March, June). The completed form should be submitted to APRA within 15 business days after the end of the relevant reporting quarter.
Unit of measurement
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:
- Foreign currency monetary items outstanding at the reporting date must be translated at the spot rate at the reporting date.
- Other items outstanding at the reporting date must not be retranslated subsequent to initial recognition of the transaction.
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:
- Where the exchange rate is fixed in the contract, at that fixed exchange rate; and
- Where the exchange rate varies, at the spot rate at the reporting date.
Netting
Unless otherwise specifically stated, institutions are to comply with the prerequisite for netting outlined in Australian accounting standards AASB 1014 ‘Set-off and Extinguishment of Debt’ and AASB 1033 ‘Presentation and Disclosure of Financial Instruments’.