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Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 29 of 2006 - Reporting Standard ARS 325.0 - International Operations.

Interpretation - classifications of ADIs

In this reporting standard:

ADI means an authorised deposit-taking institution within the meaning of the Banking Act 1959.

ADI list means the attached ADI list.

foreign bank office means, in relation to a locally-incorporated bank:

(a) a branch or office of the bank;

(b) a subsidiary of the bank;

(c) an entity over which the bank has control (within the meaning of Accounting Standard AASB 124 Related Party Disclosures); or

(d) a joint venture in which the bank is a participant

that is located outside Australia.

locally-incorporated means incorporated in Australia.

locally-incorporated bank means, for the purposes of this standard, an ADI whose name appears under the heading ‘Australian-owned Banks’ or ‘Foreign Subsidiary Banks’ in the ADI list.

If an ADI is not in the ADI list, then if the ADI assumes or uses the word ‘bank’ in relation to its financial business, and it is locally-incorporated, it is taken to be a locally-incorporated bank for the purposes of this reporting standard.
APRA may in writing determine that an ADI is taken to be a locally-incorporated bank for the purposes of this reporting standard (even if, under paragraph 15 or 16, it comes within a different classification).