Financial Sector (Collection of Data) (reporting standard) determination No. 13 of 2018
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This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 and outlines the overall requirements for the provision of information to APRA relating to an authorised deposit-taking institution’s commercial property. It should be read in conjunction with the versions of Reporting Form ARF 230.0 Commercial Property designated ‘Consolidated Group or Licensed ADI for Banks’ and ‘Consolidated Group and Licensed ADI for other ADIs’, and the associated instructions (all of which are attached and form part of this Reporting Standard).
Authority
This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.
Purpose
Data collected in Reporting Form ARF 230.0 Commercial Property (ARF 230.0) is used by APRA for the purpose of prudential supervision. It may also be used by the Reserve Bank of Australia (RBA) and the Australian Bureau of Statistics (ABS).
Application and commencement
This Reporting Standard applies to an authorised deposit-taking institution (ADI) as set out in the table below.
Class of ADI
Applicable
Australian-owned Bank
Yes
Foreign Subsidiary Bank
Yes
Branch of a Foreign Bank
Yes
Building Society
Yes
Credit Union
Yes
Other ADI
Yes
This Reporting Standard commences on 1 April 2018.
Information required
An Australian-owned bank, foreign subsidiary bank and branch of a foreign bank must provide APRA with the following information for each reporting period:
(a) if the ADI is the highest parent entity in relation to a consolidated ADI group – the information required by the version of ARF 230.0 designated ‘Consolidated Group or Licensed ADI for Banks’, completed on a consolidated group basis; or
(b) if the ADI is not a highest parent entity in relation to a consolidated ADI group – the information required by the version of ARF 230.0 designated ‘Consolidated Group or Licensed ADI for Banks’, completed on a licensed ADI basis.
Note: Paragraph (b) will apply to a branch of a foreign ADI (as well as to a certain Australian-owned banks and foreign subsidiary banks).
An ADI that is a building society, credit union, other ADI or Cairns Penny Savings & Loans Ltd, must provide APRA with the following information for each reporting period:
(a) the information required by the version of ARF 230.0 designated for a ‘Consolidated Group and Licensed ADI for other ADIs’, completed on a licensed ADI basis; and
(b) if the ADI is the highest parent entity in relation to a consolidated ADI group – the information required by the version of ARF 230.0 designated for a ‘Consolidated Group and Licensed ADI for other ADIs’, completed on a consolidated group basis.
Form and method of submission
The information required by this Reporting Standard must be given to APRA in electronic format, using the ‘Direct to APRA’ application or by a method notified by APRA, in writing, prior to submission.
Note: the Direct to APRA application software (also known as D2A) may be obtained from APRA.
Reporting periods and due dates
Subject to paragraph 9, an ADI to which this Reporting Standard applies must provide the information required by this Reporting Standard for reporting periods comprising each 6-month period ending 30 September and 31 March.
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 RBA or the ABS.
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 the information 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.
Quality control
All information provided by an ADI under this Reporting Standard (except for the information required under paragraphs 5(a) and 6(b)) must be the product of systems, processes and controls that have been reviewed and tested by the external auditor of the ADI as set out in Prudential Standard APS 310 Audit and Related Matters. Relevant standards and guidance statements issued by the Auditing and Assurance Standards Board provide information 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 required by the external auditor to enable the external auditor to form an opinion on the accuracy and reliability of the information provided by an ADI under this Reporting Standard.
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. These systems, processes and controls are to assure the completeness and reliability of the information provided.
Authorisation
When an officer of an ADI submits information under this Reporting Standard using the D2A application, or other method notified by APRA, it will be necessary for the officer to digitally sign the relevant information using a digital certificate acceptable to APRA.
Minor alterations to forms and instructions
APRA may make minor variations to:
(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.
If APRA makes such a variation it must notify in writing each ADI that is required to report under this Reporting Standard.
Interpretation
In this Reporting Standard:
AASB has the meaning in section 9 of the Corporations Act 2001.
AASB 127 means the Australian accounting standards AASB 127 Consolidated and Separate Financial Statements made by the Australian Accounting Standards Board.
ADI means an authorised deposit-taking institution within the meaning of the Banking Act 1959.
APRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998.
Australian-owned bank means a locally incorporated ADI that assumes or uses the word ‘bank’ in relation to its banking business and is not a foreign subsidiary bank.
branch of a foreign bank means a ‘foreign ADI’ as defined in section 5 of the Banking Act 1959.
building society means a locally incorporated ADI that assumes or uses the expression ‘building society’ in relation to its banking business.
business days means ordinary business days, exclusive of Saturdays, Sundays and public holidays.
class of ADI means each of the following:
(i) Australian-owned bank;
(ii) foreign subsidiary bank;
(iii) branch of a foreign bank;
(iv) building society;
(v) credit union; and
(vi) other ADI.
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 127) 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 a locally incorporated ADI that assumes or uses the expression ‘credit union’ in relation to its banking business and includes Cairns Penny Savings & Loans Limited.
due date means the relevant due date under paragraph 10 or, if applicable, paragraph 11.
foreign ADI has the meaning in section 5 of the Banking Act 1959.
foreign subsidiary bank means a locally incorporated ADI in which a bank that is not locally incorporated has a stake of more than 15 per cent.
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 127); and
(c) it is not itself a subsidiary (within the meaning of Accounting Standard AASB 127) of an ADI that is locally-incorporated.
locally incorporated means incorporated in Australia or in a State or Territory of Australia, by or under a Commonwealth, State or territory law.
other ADI means an ADI that is not an Australian-owned bank, a branch of a foreign bank, a building society, a credit union or a foreign subsidiary bank but does not include Cairns Penny Savings & Loans Limited.
reporting period means a period mentioned in paragraph 8 or, if applicable, paragraph 9.
stake means a stake determined under the Financial Sector (Shareholdings) Act 1998, as if the only associates that were taken into account under paragraph (b) of subclause 10(1) of the Schedule to that Act were those set out in paragraphs (h), (j) and (l) of subclause 4(1).
Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.
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