Financial Sector (Collection of Data) (reporting standard) determination No. 3 of 2020
Large ExposuresLarge Exposures
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This Reporting Standard sets out the requirements for the provision of information to APRA relating to an authorised deposit-taking institution’s large exposures.
It includes Reporting Form ARF 221.0 Large Exposures and Reporting Form ARF 221.1 Large Exposures – Foreign ADI and associated specific instructions and must be read in conjunction with Prudential Standard APS 221 Large Exposures.
Authority
This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.
Purpose
Information collected under this Reporting Standard 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
This Reporting Standard applies to all authorised deposit-taking institutions (ADIs) with the exception of providers of purchased payment facilities (PPFs). This Reporting Standard may also apply to the non-operating holding company (NOHC) of an ADI (refer to paragraph 6).
Commencement
This Reporting Standard applies to reporting periods ending on or after 1 January 2020.
Information required
A locally incorporated ADI to which this Reporting Standard applies must provide APRA with the information required by the version of Reporting Form ARF 221.0 Large Exposures (ARF 221.0) designated for an ADI on a Level 1 basis for each reporting period.
If a locally incorporated ADI, to which this Reporting Standard applies, is part of a Level 2 group, the ADI must also provide APRA with the information required by the version of ARF 221.0 designated for an ADI at Level 2 for each reporting period unless the ADI is a subsidiary of an authorised NOHC. If the ADI is a subsidiary of an authorised NOHC, the ADI’s immediate parent NOHC must provide APRA with the information required by that form for each reporting Yperiod. In doing so, the immediate parent NOHC must comply with this Reporting Standard (other than paragraph 5) as if it were the relevant ADI.
A foreign ADI to which this Reporting Standard applies must provide APRA with the information required by Reporting Form ARF 221.1 Large Exposures – Foreign ADI (ARF 221.1) 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 prior to submission.
Part Large Exposures - Financial Sector (Collection of Data) (reporting standard) determination No. 3 of 2020 - Large Exposures | Zoe
Note: the ‘Direct to APRA’ application software (also known as ‘D2A’) may be obtained from APRA.
Reporting periods and due dates
Subject to paragraph 11 of this Reporting Standard, 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.
Subject to paragraph 12 of this Reporting Standard, the information required by this Reporting Standard must be provided to APRA within 28 calendar days after the end of the reporting period to which the information relates.
APRA may 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 and the ABS.
APRA may grant an ADI an extension of a due date in which case the new date will be the date specified in the notice of extension.
Note: for the avoidance of doubt, if the due date for a particular reporting period falls on a day other than a usual business day, an ADI is nonetheless required to submit the information required no later than the due date.
Quality control
All information provided by an ADI under this Reporting Standard 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 necessary 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 systems, 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 software, or other method notified by APRA, the officer must 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 the application to the form,
without changing any substantive requirement in the form or instructions.
If APRA makes such a variation it must notify each ADI that is required to report under this Reporting Standard.
Transition
An ADI must report under the old Reporting Standard in respect of a transitional reporting period. For these purposes:
old Reporting Standard means the Reporting Standard revoked by the determination that makes this Reporting Standard (being the Reporting Standard which this Reporting Standard replaces), as in force immediately before the commencement of this Reporting Standard.
transitional reporting period means a reporting period under the old Reporting Standard:
(a) that ended on or before 31 December 2019; and
(b) in relation to which the ADI was required, under the old Reporting Standard, to report by a date on or after the date of revocation of the old Reporting Standard.
Note: for the avoidance of doubt, if an ADI was required to report under an old Reporting Standard, and the reporting documents were due before the date of revocation of the old Reporting Standard, the ADI is still required to provide the overdue reporting documents in accordance with the old Reporting Standard.
Interpretation
In this Reporting Standard:
AASB has the meaning given 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.
authorised NOHC has the meaning given in the Banking Act 1959.
business days means ordinary business days, exclusive of Saturdays, Sundays and public holidays.
due date means the last of the 28 calendar days provided for in paragraph 10 or, if applicable, the date on a notice of extension given under paragraph 12 of this Reporting Standard.
foreign ADI has the meaning given in section 5 of the Banking Act 1959.
immediate parent NOHC means an authorised NOHC, or a subsidiary of an authorised NOHC, that is an immediate parent NOHC within the meaning of Prudential Standard APS 001 Definitions (APS 001).
Level 1 has the meaning given in APS 001.
Level 2 has the meaning given in APS 001.
locally incorporated means incorporated in Australia or in a State or Territory of Australia, by or under a Commonwealth, State or Territory law.
provider of purchased payment facilities means an ADI that is subject to a condition on its authority under section 9 of the Banking Act 1959 confining the banking business that the ADI is authorised to carry on to providing purchased payment facilities.
reporting period means a financial year as provided for in paragraph 9 or, if applicable, the period specified in a notice given under paragraph 11 of this Reporting Standard.
subsidiary has the meaning given in the Corporations Act 2001.
Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard or Australian Accounting or Auditing Standard is a reference to the instrument as in force or existing from time to time.
Where this Reporting Standard provides for APRA to exercise a power or discretion, this power or discretion is to be exercised in writing.