Subdivision APRA's clean sale and separation require - Financial Sector (Collection of Data) (reporting standard) determination No. 10 of 2006 - Reporting Standard ARS 221.0 - Large Exposures - APRA's clean sale and separation requirements are set out in APS 120 Funds Management and Securitisation and related Guidance Notes AGN 120.3 Purchase and Supply of Assets (including Securities Issued by SPVs) and AGN 120.1 Disclosure and Separation. Whenever the clean sale and separation requirements are not met, all the assets, liabilities, revenues and expenses of the SPV are to be consolidated with the ADI’s reported amounts.

APRA's clean sale and separation requirements are set out in APS 120 Funds Management and Securitisation and related Guidance Notes AGN 120.3 Purchase and Supply of Assets (including Securities Issued by SPVs) and AGN 120.1 Disclosure and Separation. Whenever the clean sale and separation requirements are not met, all the assets, liabilities, revenues and expenses of the SPV are to be consolidated with the ADI’s reported amounts.

Note: ADIs should consult APRA in case of doubt as to whether a subsidiary or controlled entity that engaged in non-financial operations should be consolidated at Level 2 for capital adequacy purposes.

Consolidated group

The consolidated group form is to be completed by all ADIs (where applicable) at Level 2 (i.e. the consolidated banking group level) defined in accordance with APS 110. Foreign ADIs and SCCIs operating through branches in Australia are not required to complete this form.

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