Financial Sector (Collection of Data) (reporting standard) determination No. 27 of 2018
In ForceCTH
Jurisdiction
Commonwealth
Collection
legislative instrument
Plain English Summary
4/10 complexity
This Reporting Standard requires every authorised deposit-taking institution (ADI) to submit standardised data on its "other operating income" to APRA (quarterly, with deadlines that vary by ADI class). APRA may use the data for prudential supervision and share it with the RBA and ABS. The Standard sets electronic submission rules, auditor and internal-control requirements, consolidated-group reporting rules, and limited exceptions (for certain securitisations) to align regulatory reporting with accounting practice.
This Reporting Standard, titled Reporting Standard ARS 330.2 Other Operating Income, prescribes mandatory data collection and submission requirements for authorised deposit‑taking institutions (ADIs) relating to “other operating income”. It is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (para 1). The Standard commences on 1 April 2018 (para 4) and requires ADIs to submit the version of Reporting Form ARF 330.2 that is designated for a “Licensed ADI” for each reporting period (para 5). Where an ADI is the highest parent entity of a consolidated ADI group, it must also provide the consolidated‑group version of ARF 330.2 for each reporting period (para 6). The forms and the attached instructions are expressly part of the Standard and must be read together (Objective).
Mechanically, submissions must be provided in electronic format using APRA’s Direct to APRA (D2A) application, or by an alternative method that APRA notifies in writing prior to submission (para 7). An authorised officer must digitally sign submissions using a digital certificate acceptable to APRA (para 14). The default reporting frequency is quarterly based on the ADI’s financial year as defined in the Corporations Act 2001 (para 8), with APRA retaining the discretion to change the frequency for particular ADIs by written notice (para 9). The Standard sets class‑specific due dates measured in business days after the reporting period (para 10): typically 25 business days for Australian‑owned banks, foreign subsidiary banks, branches of foreign banks and “other ADI”, and 15 business days for building societies and credit unions (para 10 table). APRA can grant written extensions (para 11).
Quality control obligations require that all reported information, except consolidated‑group information required by para 6, be produced by systems, processes and controls reviewed and tested by the ADI’s external auditor in accordance with Prudential Standard APS 310 Audit and Related Matters (para 12). Institutions must also maintain internal review and authorisation processes for the completeness and reliability of the information (para 13). APRA may make minor variations to the forms or instructions to correct technical or clarity issues without changing substantive requirements, and must notify affected ADIs in writing when it does so (paras 15-16). The Standard cross‑references a set of accounting and prudential instruments (para 18) and includes detailed instructions on consolidation, foreign currency translation, and securitisation deconsolidation (Instruction Guide).
Current sections
Direct links to the current provisions in Financial Sector (Collection of Data) (reporting standard) determination No. 27 of 2018.
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 other operating income. It should be read in conjunction with the versions of Reporting Form ARF 330.2 Other Operating Income designated for a ‘Licensed ADI’ and ‘Consolidated Group’, 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 330.2 Other Operating Income (ARF 330.2) 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 all authorised deposit-taking institutions (ADIs).
This Reporting Standard commences on 1 April 2018.
Information required
An ADI to which this Reporting Standard applies must provide APRA with the information required by the version of ARF 330.2 designated for a ‘Licensed ADI’ for each reporting period.
An ADI to which this Reporting Standard applies that is a highest parent entity in relation to a consolidated ADI group must also provide APRA the information required by the version of ARF 330.2 designated for a ‘Consolidated Group’ for each reporting period.
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 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 RBA or the ABS.
The information required by this Reporting Standard must be provided to APRA in accordance with the table below. The right hand column of the table sets out the number of business days after the end of the reporting period to which the information relates within which information must be submitted to APRA by an ADI in the classes set out in the left hand column.
Class of ADI
Number of business days
Australian-owned Bank
25
Foreign Subsidiary Bank
25
Branch of a Foreign Bank
25
Building Society
15
Credit Union[1]
15
Other ADI
25
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 paragraph 6) 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.
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.
Other Operating Income
Other Operating Income
Other Operating Income
Objective of this Reporting Standard
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 other operating income. It should be read in conjunction with the versions of Reporting Form ARF 330.2 Other Operating Income designated for a ‘Licensed ADI’ and ‘Consolidated Group’, 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 330.2 Other Operating Income (ARF 330.2) 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 all authorised deposit-taking institutions (ADIs).
This Reporting Standard commences on 1 April 2018.
Information required
An ADI to which this Reporting Standard applies must provide APRA with the information required by the version of ARF 330.2 designated for a ‘Licensed ADI’ for each reporting period.
An ADI to which this Reporting Standard applies that is a highest parent entity in relation to a consolidated ADI group must also provide APRA the information required by the version of ARF 330.2 designated for a ‘Consolidated Group’ for each reporting period.
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 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 RBA or the ABS.
The information required by this Reporting Standard must be provided to APRA in accordance with the table below. The right hand column of the table sets out the number of business days after the end of the reporting period to which the information relates within which information must be submitted to APRA by an ADI in the classes set out in the left hand column.
Class of ADI
Number of business days
Australian-owned Bank
25
Foreign Subsidiary Bank
25
Branch of a Foreign Bank
25
Building Society
15
Credit Union[1]
15
Other ADI
25
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 paragraph 6) 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.
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.
Objective of this Reporting Standard
Objective of this Reporting Standard
Objective of this Reporting Standard
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 other operating income. It should be read in conjunction with the versions of Reporting Form ARF 330.2 Other Operating Income designated for a ‘Licensed ADI’ and ‘Consolidated Group’, and the associated instructions (all of which are attached and form part of this Reporting Standard).
Authority
Authority
Authority
This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.
Purpose
Purpose
Purpose
Data collected in Reporting Form ARF 330.2 Other Operating Income (ARF 330.2) 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
Application and commencement
Application and commencement
This Reporting Standard applies to all authorised deposit-taking institutions (ADIs).
This Reporting Standard commences on 1 April 2018.
Information required
Information required
Information required
An ADI to which this Reporting Standard applies must provide APRA with the information required by the version of ARF 330.2 designated for a ‘Licensed ADI’ for each reporting period.
An ADI to which this Reporting Standard applies that is a highest parent entity in relation to a consolidated ADI group must also provide APRA the information required by the version of ARF 330.2 designated for a ‘Consolidated Group’ for each reporting period.
Form and method of submission
Form and method of submission
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
Reporting periods and due dates
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 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 RBA or the ABS.
The information required by this Reporting Standard must be provided to APRA in accordance with the table below. The right hand column of the table sets out the number of business days after the end of the reporting period to which the information relates within which information must be submitted to APRA by an ADI in the classes set out in the left hand column.
Class of ADI
Number of business days
Australian-owned Bank
25
Foreign Subsidiary Bank
25
Branch of a Foreign Bank
25
Building Society
15
Credit Union[1]
15
Other ADI
25
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 paragraph 6) 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.
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.
All information provided by an ADI under this Reporting Standard (except for the information required under paragraph 6) 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
Authorisation
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 instructi
Minor alterations to forms and instructions
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
Interpretation
Interpretation
In this Reporting Standard:
AASB has the meaning in section 9 of the Corporations Act 2001.
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.
Instruction Guide
Instruction Guide
Instruction Guide
General directions and notes
Reporting entity
This form is to be completed by all authorised deposit-taking institutions (ADIs) on both a licensed ADI and consolidated ADI group basis (where applicable).
ADIs incorporated in Australia which do not have any controlled entities, or interests in joint venture operations are not required to complete the section of the form relating to the consolidated ADI.
Branches of foreign banks are required to complete this form for the Australian branch only.
Licensed ADI
Licensed ADI
Licensed ADI
This refers to the operations of the reporting ADI on a stand-alone basis.
Securitisation deconsolidation principle
Except as otherwise specified in these instructions, the following applies:
Where an ADI (or a member of its Level 2 consolidated group) participates in a securitisation that meets APRA’s operational requirements for regulatory capital relief under Prudential Standard APS 120 Securitisation (APS 120):
(a) special purpose vehicles (SPVs) holding securitised assets may be treated as non-consolidated independent third parties for regulatory reporting purposes, irrespective of whether the SPVs (or their assets) are consolidated for accounting purposes;
(b) the assets, liabilities, revenues and expenses of the relevant SPVs may be excluded from the ADI’s reported amounts in APRA’s regulatory reporting returns; and
(c) the underlying exposures (i.e. the pool) under such a securitisation may be excluded from the calculation of the ADI’s regulatory capital (refer to APS 120). However, the ADI must still hold regulatory capital for the securitisation exposures[2] that it retains or acquires and such exposures are to be reported in Reporting Form ARF 120.1 Securitisation – Regulatory Capital. The risk-weighted assets (RWA) relating to such securitisation exposures must also be reported in Reporting Form ARF 110.0.1 Capital Adequacy (Level 1) and Reporting Form ARF 110.0.2 Capital Adequacy (Level 2).
Where an ADI (or a member of its Level 2 consolidated group) participates in a securitisation that does not meet APRA’s operational requirements for regulatory capital relief under APS 120, or the ADI undertakes a funding-only securitisation or synthetic securitisation, such exposures are to be reported as on-balance sheet assets in APRA’s regulatory reporting returns. In addition, these exposures must also be reported as a part of the ADI’s total securitised assets within Reporting Form ARF 120.2 Securitisation – Supplementary Items.
Consolidated ADI group
Consolidated ADI group
Consolidated ADI group
This refers to the global operations of the ADI and all its controlled entities (where relevant), consolidated in accordance with Australian accounting standards (AASB 127 Consolidated and Separate Financial Statements (AASB 127) and AASB 3 Business Combinations (AASB 3)).
‘Controlled entity’ (subsidiary), ‘parent entity’
These terms are defined in accordance with AASB 127 and AASB 3.
The basis of consolidation required in this form is in accordance with the accounting consolidated group. The accounting consolidated group is to be determined in accordance with the requirements of the Australian accounting standards, notably AASB 127 and AASB 3.
Exclude from the accounting consolidated group SPVs whose assets have satisfied the clean sale requirements set down in APS 120 (refer to Securitisation deconsolidation principle).
Reporting period
The form is to be completed as at the last day of the stated reporting quarter on a financial year-to-date basis of the ADI. Australian-owned banks, foreign subsidiary banks, branches of foreign banks and other ADIs should submit the completed form to APRA within 25 business days after the end of the relevant reporting quarter. Credit Unions, Cairns Penny Savings & Loans Limited and Building Societies should submit the completed form to APRA within 15 business days after the end of the relevant reporting quarter.
Unit of measurement
Amounts denominated in foreign currency are to be converted to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates (AASB 121).
The general requirements of AASB 121 for translation are:
foreign currency monetary items outstanding at the reporting date must be translated at the spot rate at the reporting date;[3]
foreign currency non-monetary items that are measured at historical cost in a foreign currency must be translated using the exchange rate at the date of the transaction;[4]
foreign currency non-monetary items that are measured at fair value will be translated at the exchange rate at the date when fair value was determined.
Transactions arising under foreign currency derivative contracts at the reporting date must be prepared in accordance with AASB 139 Financial Instruments: Recognition and Measurement (AASB 139). However, those foreign currency derivatives that are not within the scope of AASB 139 (e.g. some foreign currency derivatives that are embedded in other contracts) remain within the scope of AASB 121.
For APRA purposes equity items must be translated using the foreign currency exchange rate at the date of investment or acquisition. Post-acquisition changes in equity are required to be translated on the date of the movement.
As foreign currency derivatives are measured at fair value, the currency derivative contracts are translated at the spot rate at the reporting date.
Exchange differences should be recognised in profit and loss in the period which they arise. For foreign currency derivatives, the exchange differences would be recognised immediately in profit and loss if the hedging instrument is a fair value hedge. For derivatives used in a cash flow hedge, the exchange differences should be recognised directly in equity.
The ineffective portion of the exchange differences in all hedges would be recognised in profit and loss; and
translation of financial reports of foreign operations.
A foreign operation is defined in AASB 121 as meaning an entity that is a subsidiary, associate, joint venture or branch of a reporting entity, the activities of which are based or conducted in a country or currency other than those of the reporting entity.
Exchange differences relating to foreign currency monetary items that form part of the net investment of an entity in a foreign operation, must be recognised as a separate component of equity.
Translation of financial reports should otherwise follow the requirements in AASB 121.
Basis of preparation
In completing this form, unless otherwise specifically stated, institutions are recommended to follow the Australian accounting standards regarding the:
interpretation/definition of items of income and expense;
measurement basis of items of income and expense; and
netting of items of income and expense.
Source text: opening excerpt
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
Reporting Standard ARS 330.2 Reporting Standard ARS 330.2
Reporting Standard ARS 330.2
Other Operating Income
Objective of this Reporting Standard
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 other operating income. It should be read in conjunction with the versions of Reporting Form ARF 330.2 Other Operating Income designated for a ‘Licensed ADI’ and ‘Consolidated Group’, 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 330.2 Other Operating Income (ARF 330.2) 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 all authorised deposit-taking institutions (ADIs).
This Reporting Standard commences on 1 April 2018.
Information required
An ADI to which this Reporting Standard applies must provide APRA with the information required by the version of ARF 330.2 designated for a ‘Licensed ADI’ for each reporting period.
An ADI to which this Reporting Standard applies that is a highest parent entity in relation to a consolidated ADI group must also provide APRA the information required by the version of ARF 330.2 designated for a ‘Consolidated Group’ for each reporting period.
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 each quarter based on the financial year (within the meaning of the Corporations Act 2001) of the ADI.
Financial Sector (Collection of Data) (reporting standard) determination No. 27 of 2018 | Zoe
APRA describes the use of the collected data as for prudential supervision, and indicates the Reserve Bank of Australia and the Australian Bureau of Statistics may also use the data (para 2). Those stated purposes are the official rationale; the Standard sets out the concrete mechanics for collection, timing, format, quality assurance and the treatment of specific accounting and securitisation matters that will drive ADIs’ operational, audit and IT responses.
Main concepts
The Standard rests on several interlocking concepts that determine scope, measurement and operational treatment. First, the reporting object is “other operating income” as captured in Reporting Form ARF 330.2, with separate form versions for a Licensed ADI (stand‑alone operations) and for a Consolidated Group (global operations) (Objective; paras 5-6; Instruction Guide). The Instruction Guide makes clear that the consolidated form is to follow Australian accounting standards for consolidation (AASB 127 and AASB 3) and that SPVs meeting APRA’s clean sale/operational requirements under Prudential Standard APS 120 Securitisation may be treated as non‑consolidated for APRA reporting (Securitisation deconsolidation principle).
Second, the Standard distinguishes reporting entities. “Licensed ADI” denotes the ADI’s stand‑alone operations; “Consolidated ADI group” refers to the highest parent entity and its subsidiaries as defined by AASB 127 (para 17 definitions; Instruction Guide). The Standard sets out classes of ADI , Australian‑owned bank, foreign subsidiary bank, branch of a foreign bank, building society, credit union, other ADI , with class membership affecting timing (para 17 definitions; para 10 table). Certain named exceptions appear in the definitions (for example Cairns Penny Savings & Loans Limited is explicitly included as a credit union; the “other ADI” definition excludes Cairns Penny) and the Standard treats “highest parent entity” as locally incorporated and not itself a subsidiary (para 17).
Third, measurement and translation are governed by Australian accounting standards. Foreign currency amounts must be converted to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates (Instruction Guide). The Instruction Guide further specifies translation for monetary and non‑monetary items, treatment of foreign currency derivatives under AASB 139, and treatment of exchange differences in profit and loss or equity depending on hedge accounting. The basis of preparation instruction recommends following Australian accounting standards for interpretation, measurement and netting of income and expense items (Instruction Guide).
Fourth, quality assurance is an embedded concept. Reported information is to be generated by systems and controls subject to external auditor review and testing pursuant to APS 310 (para 12). The Standard requires internal processes for review and authorisation (para 13). The external auditor obligation does not apply to consolidated‑group information required by para 6, an express carve‑out in para 12; that difference matters operationally because it changes audit scope for consolidated reporting.
Fifth, operational mechanics include the electronic submission channel (D2A), a digital signature requirement (para 14), and APRA’s power to make non‑substantive changes to forms and instructions with notification (paras 15-16). APRA also retains discretion to alter reporting frequency or periods for particular ADIs (para 9) and to grant extensions (para 11). The Standard therefore creates a fixed reporting architecture while preserving supervisory flexibility.
Finally, the Standard cross‑references other prudential and accounting instruments: APS 310 (audit), APS 120 (securitisation), AASB 121 and AASB 139 (currency and financial instruments), AASB 127 and AASB 3 (consolidation), Corporations Act for the meaning of financial year (para 8), the Financial Sector (Shareholdings) Act 1998 for the definition of “stake” used in “foreign subsidiary bank” (para 17). Paragraph 18 makes clear references to instruments are to their versions as in force from time to time. These cross‑references mean compliance involves coordinated treatment across prudential reporting and accounting regimes.
Who it affects
The Standard applies to all authorised deposit‑taking institutions within the meaning of the Banking Act 1959 (para 3; definition of ADI at para 17). That catchment includes a range of legal forms and ownerships: Australian‑owned banks, foreign subsidiary banks, branches of foreign banks, building societies, credit unions (including the named Cairns Penny Savings & Loans Limited), and an “other ADI” residual category (para 17 definitions; para 10 table). For ADIs that are highest parent entities in respect of consolidated ADI groups, the Standard imposes an additional consolidated reporting obligation (para 6).
Who bears the operational and compliance costs is explicit in the text: the ADIs themselves must prepare and submit the data (paras 5-7). The institution supplies information in the specified electronic format, and an officer must digitally sign the submission (para 14). The ADI must maintain systems, processes and controls that produce the reported information and subject that information (other than consolidated information under para 6) to external auditor review and testing under APS 310 (para 12). The ADI must also implement internal review and authorisation mechanisms (para 13). These requirements allocate costs to ADIs for data capture, IT integration with the D2A application, audit fees (external auditor review), and staff time for internal authorisation and the digital signing process.
APRA is the decisionmaker and recipient of the data. The Standard gives APRA discretional powers that affect ADIs’ obligations: APRA may change reporting frequency or periods for a particular ADI by written notice (para 9); APRA may grant extensions of due dates in writing (para 11); and APRA may make minor variations to the forms and instructions and must notify ADIs of such variations (paras 15-16). The Standard also envisages data sharing for specified purposes: APRA states the data is used for prudential supervision and may also be used by the Reserve Bank of Australia and the Australian Bureau of Statistics (para 2). Those downstream uses are stated purposes, but the Standard does not itself create any separate obligations for RBA or ABS.
Auditors affect operations because the external auditor must perform the review and testing in accordance with APS 310 (para 12), and relevant AU auditing standards provide scope guidance; APRA expressly references that guidance. Where ADIs participate in securitisations, the Instruction Guide sets out special treatment for SPVs that meet APRA’s operational requirements for regulatory capital relief under APS 120; that choice affects whether SPV assets are excluded from APRA reporting and whether the ADI must report retained securitisation exposures in other ARFs (Instruction Guide: Securitisation deconsolidation principle). Finally, the Standard refers to definitions and thresholds from other legislation, for example “stake” as determined under the Financial Sector (Shareholdings) Act 1998 for the foreign subsidiary bank concept (para 17), which can pull in further governance and shareholder reporting obligations.
In short, the Standard’s compliance burden falls on all ADIs, with consolidated parents bearing an extra reporting stream, external auditors engaged for validation of most reported data, and APRA exercising supervisory discretion that can change frequency and form content. Those parties decide (ADIs operate the systems; APRA decides frequency and form variation; auditors validate) and bear the associated costs and resource commitments.
Key duties and rights
Duties in the instrument are concrete and prescriptive. Primary duties for ADIs are: provide ARF 330.2 Licensed ADI data for each reporting period (para 5); if the ADI is a highest parent entity, also provide the Consolidated Group version for each reporting period (para 6); provide submissions electronically via D2A or an APRA‑notified method (para 7); sign the submission digitally with an APRA‑acceptable certificate (para 14); ensure reported information (except consolidated‑group information required by para 6) derives from systems, processes and controls reviewed and tested by the external auditor per APS 310 (para 12); and maintain internal processes and controls for review and authorisation to assure completeness and reliability (para 13). ADIs must also follow the measurement and translation rules set out in the Instruction Guide (AASB 121, AASB 139 guidance, and basis of preparation recommendations).
Timing duties specify quarterly reporting based on the ADI’s financial year unless APRA alters the periods by written notice (para 8). APRA may change the reporting frequency (para 9) or grant an extension in writing (para 11). The Standard provides fixed due dates by class (para 10 table) , for example 25 business days for Australian‑owned banks and 15 business days for building societies and credit unions , and sets “due date” to mean the date in para 10 or the extended date under para 11 (para 17 definition of due date).
APRA’s rights and supervisory discretion are explicit. APRA has the power to: vary reporting periods/frequency for specified ADIs, with rationale factors listed (para 9); accept alternative submission methods if notified in writing prior to submission (para 7); make minor variations to forms and instructions to correct technical or clarification matters, without changing substantive requirements (para 15) and notify affected ADIs in writing (para 16). APRA also defines and designates the specific ARF 330.2 versions for reporting (paras 5-6) and controls the D2A application as the default submission mechanism (para 7 note).
Audit interface duties require ADIs to ensure the external auditor reviews and tests systems producing the reported information annually or more frequently if the auditor requires it to form an opinion on accuracy and reliability (para 12). The Standard explicitly links the auditor’s scope to APS 310 and to relevant Auditing and Assurance Standards Board guidance (para 12). Internal duties bind ADIs to create processes and controls to assure completeness and reliability of reported information (para 13).
The Standard confers no express rights of appeal against APRA notices within its text. It does, however, provide procedural constraints on APRA: notices to change reporting frequency are to be in writing (para 9), and variations to forms/instructions are limited to non‑substantive corrections or clarifications and require written notification to ADIs (paras 15-16).
Finally, the Standard limits its own purview by excluding consolidated information under para 6 from the external auditor testing requirement in para 12. That exception is a duty distinction that must be operationalised by ADIs and their auditors.
Penalties and enforcement
This Reporting Standard does not set out specific civil or criminal penalties, fines, or enforcement sanctions within its text. The instrument is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (para 1), and it prescribes mandatory reporting mechanics and quality assurance obligations; however, any statutory enforcement powers and penalties that could follow non‑compliance would be located in the Financial Sector (Collection of Data) Act 2001, the Banking Act 1959, the Australian Prudential Regulation Authority Act 1998, or other Acts referenced by the Standard. The Standard itself is silent on monetary penalties and detailed enforcement procedures.
Enforcement, where necessary, will therefore be effected by APRA using whatever statutory powers it has under its enabling Acts, and by administrative tools the Standard explicitly provides APRA; for example APRA can change reporting frequency (para 9), require different submission methods (para 7), and make form or instruction changes (paras 15-16). Those supervisory levers enable APRA to make compliance expectations and operational modifications, which in practice carry regulatory weight.
The Standard creates a compliance architecture that supports detection and audit of non‑compliance: ADIs must maintain documented internal controls and subject most reported information to external auditor review and testing (paras 12-13). External auditors are required to provide the level of review and testing necessary under APS 310 to form an opinion on accuracy and reliability (para 12), which creates a routine audit trail that APRA can rely on. The requirement for an authorised officer to digitally sign submissions (para 14) creates a clear accountability point within the ADI.
Because the Standard references other instruments (APS 310, APS 120, Corporations Act and AASB standards), discretionary enforcement may be pursued under those instruments’ compliance frameworks where breaches implicate their provisions. The Standard itself limits APRA’s ability to unilaterally change substantive reporting obligations without issuing a new substantive instrument, by permitting only “minor variations” to forms or instructions without substantive change (para 15). APRA must notify ADIs of such minor variations in writing (para 16), which creates an administrative check.
If an ADI fails to comply, the immediate administrative consequences in the Standard are procedural: APRA may require more frequent reporting (para 9) or withhold acceptance of submissions until authorisation requirements are met (para 14). Any statutory sanctions would need to be traced to the enabling Acts; the Standard provides the operational and evidential framework through audit, internal controls and digital authorisation that supports APRA’s supervisory and enforcement activities.
How it interacts with other laws
The Standard is overtly integrative, cross‑referencing multiple prudential and accounting instruments. It is made under the Financial Sector (Collection of Data) Act 2001 (para 1), and thus interacts with the statutory framework and enforcement mechanisms in that Act. The definition of “ADI” and related classifications invoke the Banking Act 1959 (para 17 references), so the Standard operates inside banking regulatory architecture. The authorised recipient and supervisor is APRA, established under the Australian Prudential Regulation Authority Act 1998 (para 17).
Accounting standards are central to measurement and consolidation. The Instruction Guide requires ADIs to follow AASB 121 for foreign currency translation (Instruction Guide), and consolidation bases are required to follow AASB 127 Consolidated and Separate Financial Statements and AASB 3 Business Combinations (Instruction Guide). Consequently, the Standard’s measurement and consolidation rules must be reconciled with obligations imposed on reporting entities by the Corporations Act 2001 and Australian accounting standards; paragraph 8 explicitly ties the reporting periods to the financial year as defined in the Corporations Act 2001. Paragraph 18 clarifies that references to Acts, Prudential Standards, Reporting Standards, and Australian Accounting or Auditing Standards are to be read as instruments in force from time to time, which expressly links the Standard to evolving versions of those instruments.
Prudential standards intersect operationally. The Standard calls out Prudential Standard APS 310 Audit and Related Matters as the standard governing external auditor review and testing of reporting systems (para 12). The Instruction Guide references APS 120 Securitisation to determine whether SPVs may be treated as non‑consolidated for APRA reporting (Securitisation deconsolidation principle). Where APRA permits securitisation deconsolidation under APS 120, the Instruction Guide requires that the ADI still report securitisation exposures retained or acquired in separate returns (ARF 120.1 and ARF 110.0.1/110.0.2). That creates an interaction that can move exposures between different reporting returns depending on APS 120 compliance.
Other statutory instruments are implicated by definitions. The term “stake” is defined with reference to the Financial Sector (Shareholdings) Act 1998 (para 17), affecting whether an ADI is a foreign subsidiary bank. The Standard also permits APRA to adjust reporting periods to satisfy RBA or ABS requirements (para 9), showing an administrative interaction with the Reserve Bank Act and ABS mandates for statistical data collection.
Operationally, conflicts or coordination challenges can arise when accounting treatments under AASB standards diverge from prudential treatments under APRA standards. The Standard directs ADIs to use accounting standards for the basis of preparation, but for securitisation aggregates APRA’s prudential treatment under APS 120 governs deconsolidation for reporting. Paragraph 18 mitigates uncertainty by tying references to instruments in force from time to time, yet such references require ADIs to monitor changes in accounting and prudential standards continuously.
Finally, enforcement mechanisms are not specified in the Standard itself; any statutory enforcement would arise under the FS(CoD) Act, APRA Act, Banking Act or other relevant legislation. The Standard is therefore an operationally binding instrument within a network of prudential and accounting law, requiring institutional coordination between legal, accounting, audit and compliance functions within ADIs.
Amendment history
The text of this Reporting Standard indicates a single formal temporal marker: it "commences on 1 April 2018" (para 4). The instrument does not include an embedded schedule of prior versions, tracked amendments, or a formal legislative amendment history within the text provided. It does expressly permit APRA to make "minor variations" to any form or the instructions to correct technical, programming or logical errors or to clarify instructions without changing substantive requirements (para 15). When APRA makes such non‑substantive variations, it must notify each ADI that is required to report under the Standard in writing (para 16).
Paragraph 18 establishes an interpretative rule that references to Acts, Prudential Standards, Reporting Standards, and Australian Accounting or Auditing Standards are to the instruments "as in force from time to time". That provision means the Standard's operation is dynamically linked to the current versions of those instruments and thus may change in practice when those referenced standards are amended. For example, if APS 310, APS 120, AASB 121, or AASB 127 are amended, the practical requirements for audit review, securitisation deconsolidation, currency translation or consolidation will shift accordingly without this Reporting Standard itself being amended.
The Instruction Guide and attached forms are stated to "form part of this Reporting Standard" (Objective). In practice, APRA can update the forms and instructions by the minor‑variation route in para 15. That route constrains APRA from making substantive changes under the guise of a technical correction, but it does allow APRA to correct or clarify programming, logical or technical issues in the forms. Any material change to reporting requirements (for example, adding new fields or changing substantive definition of items to be reported) would, on the face of the instrument, require a substantive amendment rather than a minor variation; the instrument does not provide a pathway for unilateral substantive change via a simple notification. Those structural constraints appear in the Standard text, but the instrument itself includes no list of prior amendments, nor does it report any consultation history or version numbering in the excerpt provided.
If users need a formal amendment trail, the source text suggests the place to look is APRA’s public registers for Reporting Standards and for updated forms and instructions, because the Standard contemplates that APRA will notify ADIs of any minor variations (para 16) and that forms and instructions are maintained as part of the Standard. The Standard does not record any prior judicial or administrative amendments in the provided text.
Litigation history
The Reporting Standard as provided contains no record of litigation, judicial decisions, or administrative appeals concerning its validity, interpretation, or enforcement. The instrument itself does not cite any court cases and does not summarise litigation. Because the Standard is an administrative instrument made under the Financial Sector (Collection of Data) Act 2001 (para 1), any disputes about its application, APRA notices issued under paras 9-11, or the exercise of APRA’s powers could in principle give rise to judicial review or other legal proceedings under general administrative law principles, but the text contains no examples or history of such proceedings.
Absent reported cases in the instrument, practitioners should be alert to likely loci for dispute based on provisions in the Standard. Those loci include APRA’s discretion to change reporting periods or frequency for a particular ADI by written notice (para 9), the scope of APRA’s power to make "minor variations" to forms and instructions without changing substantive requirements (para 15), and the carve‑out in para 12 that excludes consolidated information required under para 6 from the external auditor review obligation. Disputes could arise over whether a given APRA notice properly exercised the powers under the Standard, whether a variation was in substance or merely technical, or whether an ADI’s data flows meet the APS 310 external auditor testing standard as incorporated by para 12. Those are modal legal risk areas; the Standard itself provides the textual framework that would be litigated but contains no litigation history.
Where litigation does occur relating to APRA reporting instruments, the legal doctrines implicated would typically include statutory interpretation (construction of paras 9, 12, 15), administrative law review (procedural fairness and reasonableness of supervisory notices), and challenges that turn on the application of accounting standards referenced by the Standard. Because paragraph 18 ties references to the instruments “as in force from time to time,” litigation might also engage questions about retrospective application of amended accounting standards to reporting obligations. Practitioners should therefore treat the Standard as enforceable administrative law under APRA’s supervisory apparatus and should check external legal databases and APRA’s public materials to see whether any judicial or tribunal decisions have arisen since commencement in April 2018.
Gotchas
Several practical and legal pitfalls in the Standard are likely to produce operational surprises if not attended to. The following are concrete items to watch, with references to the relevant provisions.
Consolidated reporting versus Licensed ADI reporting. The Standard requires both licensed ADI (para 5) and consolidated ADI group (para 6) submissions where the ADI is the highest parent entity. The Instruction Guide makes the consolidation basis dependent on AASB 127 and AASB 3 (Instruction Guide). That means an accountant’s view of the accounting consolidated group controls APRA consolidation reporting, subject to the securitisation deconsolidation principle; failure to segregate and reconcile stand‑alone and consolidated flows will create reporting discrepancies.
External auditor carve‑out for consolidated data. Paragraph 12 requires external auditor review and testing for all reported information except the information required under paragraph 6 (the consolidated information). That carve‑out is non‑intuitive: consolidated information is often the larger aggregation, yet the Standard excludes it from the external auditor testing requirement. ADIs must therefore be deliberate about which reported datasets are subject to auditor testing and ensure documentation supports the distinction.
Securitisation deconsolidation complexity. The Instruction Guide allows SPVs that meet APRA’s operational requirements under APS 120 to be treated as non‑consolidated for APRA reporting (Securitisation deconsolidation principle). However, the Instruction Guide also requires retained securitisation exposures to be reported in ARF 120.1 and capital and RWA effects to be reported in ARF 110.0.1/110.0.2. This creates cross‑form coordination: exclusion from ARF 330.2 may not remove the need to report related exposures elsewhere. Systems must reconcile APRA prudential treatment with accounting consolidation.
Foreign currency and derivatives translation detail. The Instruction Guide’s detailed tie to AASB 121 and AASB 139 imposes specific translation dates and hedge accounting treatments for exchange differences. ADIs that use internal reporting systems with different FX rules risk producing inconsistent results; the Standard requires translation rules aligned with AASB 121 and AASB 139 for APRA purposes.
Class‑specific timing and exceptions. The due date table in paragraph 10 has different turnaround targets by class (15 days for building societies and credit unions; 25 days for most banks). The definition section includes explicit exceptions such as Cairns Penny Savings & Loans Limited being included as a credit union and excluded from “other ADI” (para 17). Mis‑classification of an ADI may lead to missing a shorter due date or being subject to an incorrect reporting template.
Digital signing and format rigidity. Submissions must be electronically supplied via D2A or an APRA‑approved alternative, and an officer must digitally sign via a certificate acceptable to APRA (paras 7 and 14). ADIs that have not implemented a D2A integration and certificate process risk late submissions and integrity rejections.
APRA’s discretionary notices. APRA can change reporting periods or frequency for particular ADIs (para 9) and can grant extensions in writing (para 11). Where APRA exercises discretion, an ADI’s compliance calendar may need rapid adjustment. Because notices must be in writing, ADIs should preserve those written notices and ensure internal controls capture their effect.
Minor variations by APRA. APRA’s power to make minor variations to forms and instructions without changing substantive requirements (para 15) is useful operationally but can hide material impacts if an ADI interprets a minor technical change as substantive. APRA must notify ADIs in writing of such changes (para 16), so ADIs should monitor APRA notifications closely and maintain an internal change log linked to reporting templates.
Cross‑form dependencies. The Instruction Guide’s references to ARF 120.1 and ARF 110.x show that ARF 330.2 does not exist in isolation; data fields may depend on entries in other regulatory returns. Ensure mapping and reconciliations across ARFs.
Ambiguities that invite challenge. Definitions such as “other ADI” and the specific carve‑outs in securitisation deconsolidation can leave room for divergent interpretations between ADIs and APRA. Those ambiguities are likely candidates for pre‑submission clarification requests to APRA to avoid material misreporting.
Auditor timing requirement. Paragraph 12 requires external auditor review “on an annual basis or more frequently if required by the external auditor to enable the external auditor to form an opinion”. If an auditor requires more frequent testing, ADIs must be ready to accommodate that, with attendant cost and scheduling implications.
Record retention and audit evidence. The Standard’s emphasis on audit testing and internal authorisation (paras 12-13) implies a need for robust record retention and audit trails for data lineage, reconciliations, and sign‑off. Weak documentation will impair the auditor’s ability to form the required opinion and may lead to follow up from APRA.
Addressing these gotchas requires close coordination between treasury, risk, accounting, IT, audit and compliance teams. Practitioners should catalogue cross‑form item dependencies, maintain a current classification of the ADI class, ensure D2A connectivity and digital certificate readiness, and create an APRA notification monitoring process.
How to comply
A compliance programme for ARS 330.2 should be operational, evidence‑based and mapped to the Standard’s specific provisions. The following actionable steps align to the Standard’s mechanics and the Instruction Guide.
Governance and responsibilities. Nominate a reporting owner responsible for ARF 330.2 submissions and a delegated officer authorised to sign via the digital certificate acceptable to APRA (para 14). Maintain a documented authorisation matrix tying individuals to electronic signatory privileges.
Determine reporting coverage. For each entity in the legal group, establish whether it must complete the Licensed ADI form (para 5) and whether the highest parent entity must submit the Consolidated Group form (para 6). Use AASB 127/AASB 3 to determine the accounting consolidated group (Instruction Guide).
Classification and due dates. Classify the ADI under APRA’s class definitions (para 17) so you know the applicable due date from the table in para 10. Implement a reporting calendar that maps quarter ends (as per the ADI’s financial year under the Corporations Act 2001) to due dates and includes lead times for internal review and external auditor testing (paras 8, 10).
IT and D2A integration. Implement a submission process to transmit the ARF 330.2 data in the format required by APRA’s D2A application (para 7). If APRA notifies an alternative method, ensure timely compliance with that method. Set up digital certificate provisioning and renewal processes for the authorised officer (para 14).
Data model and mapping. Map internal accounting and general ledger categories to all ARF 330.2 fields for the Licensed ADI and Consolidated Group forms, following the Instruction Guide’s basis of preparation recommendations. Ensure reconciliations between the ARF 330.2 fields and ARF 120.x and ARF 110.x where the securitisation deconsolidation principle creates cross‑form reporting obligations (Instruction Guide).
FX and valuation treatment. Implement foreign currency translation rules in line with AASB 121 and AASB 139 as set out in the Instruction Guide. Document translation rates, timing for monetary and non‑monetary items, treatment of derivatives, and hedge accounting effects so that reports are consistent and auditable.
Securitisation treatment. If the ADI participates in securitisation, document whether SPVs meet APRA’s operational requirements for regulatory capital relief under APS 120. Where they do, apply the Instruction Guide’s deconsolidation approach for APRA reporting but ensure securitisation exposures retained or acquired are reported in ARF 120.1 and capital/RWA items are reported in ARF 110.0.1/110.0.2 as required (Instruction Guide).
Controls, audit and evidence. Establish internal controls and authorisation procedures for the completeness and reliability of reported information (para 13). Prepare for the external auditor’s review and testing under APS 310 (para 12) by maintaining an audit trail: data lineage documents, reconciliation schedules, exception logs, change management records for forms, evidence of D2A submission and digital sign‑off.
External auditor engagement. Coordinate with the external auditor early to define the scope and timing of the APS 310 review. Because para 12 allows the auditor to require more frequent testing, the ADI should secure auditor availability and budget for potential additional testing cycles.
Monitoring APRA notices and changes. Monitor APRA communications for notices to change reporting frequency or periods (para 9), for extensions (para 11), and for any minor variations to forms and instructions (paras 15-16). Maintain a change log to track form/instruction versions and APRA notifications, and adjust internal procedures when notified.
Documentation and training. Document policies and procedures for ARF 330.2 reporting, including data definitions, consolidation rules, mapping tables, and translation rules. Train staff in month‑end and quarter‑end processes to ensure data is captured, reviewed and authorised within the due dates.
Reconciliation to financial statements. Implement reconciliations between ARF 330.2 reported figures and the ADI’s statutory accounts and management accounts, making clear any prudential adjustments (for example securitisation deconsolidation) that cause differences.
Pre‑submission validation. Run internal validation checks aligned with APRA’s form logic and instructions; confirm the digital certificate is current and perform a pre‑submission audit check list: reconciliations, sign‑off records, auditor sign‑off evidence where applicable, and backup of submission files.
Contingency planning. Have a contingency plan for D2A outages or certificate issues, including the process for applying to APRA for an alternative submission method or for extensions (paras 7, 11). Preserve copies of any written notices from APRA regarding frequency changes or extensions.
Record retention and evidence. Retain evidence of submissions, APRA notifications, internal and external audit workpapers, and reconciliation schedules for the retention period required by APRA or other applicable law, so that documentary proof is available if APRA queries a submission.
Following these steps will operationalise the Standard’s technical requirements (paras 5-18 and Instruction Guide). Practically, the biggest resourcing items are IT integration to D2A and the external audit programme under APS 310, plus the reconciliations required when securitisation treatments shift assets between reporting forms. Maintain close coordination among finance, risk, IT and audit teams, and use APRA notification procedures to resolve ambiguous classification questions in advance of quarter‑end submissions.
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 in accordance with the table below. The right hand column of the table sets out the number of business days after the end of the reporting period to which the information relates within which information must be submitted to APRA by an ADI in the classes set out in the left hand column.
Class of ADI
Number of business days
Australian-owned Bank
25
Foreign Subsidiary Bank
25
Branch of a Foreign Bank
25
Building Society
15
Credit Union[1]
15
Other ADI
25
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 paragraph 6) 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.
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.
Other Operating Income Other Operating Income
Other Operating Income
Objective of this Reporting Standard
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 other operating income. It should be read in conjunction with the versions of Reporting Form ARF 330.2 Other Operating Income designated for a ‘Licensed ADI’ and ‘Consolidated Group’, 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 330.2 Other Operating Income (ARF 330.2) 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 all authorised deposit-taking institutions (ADIs).
This Reporting Standard commences on 1 April 2018.
Information required
An ADI to which this Reporting Standard applies must provide APRA with the information required by the version of ARF 330.2 designated for a ‘Licensed ADI’ for each reporting period.
An ADI to which this Reporting Standard applies that is a highest parent entity in relation to a consolidated ADI group must also provide APRA the information required by the version of ARF 330.2 designated for a ‘Consolidated Group’ for each reporting period.
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 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 RBA or the ABS.
The information required by this Reporting Standard must be provided to APRA in accordance with the table below. The right hand column of the table sets out the number of business days after the end of the reporting period to which the information relates within which information must be submitted to APRA by an ADI in the classes set out in the left hand column.
Class of ADI
Number of business days
Australian-owned Bank
25
Foreign Subsidiary Bank
25
Branch of a Foreign Bank
25
Building Society
15
Credit Union[1]
15
Other ADI
25
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 paragraph 6) 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.
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 incorporate
This is an opening excerpt, not the complete document.