Financial Sector (Collection of Data) (reporting standard) determination No. 6 of 2025
Liquidity demandLiquidity demand
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This instruction guide is designed to assist in the completion of Reporting Form SRF 551.1 Liquidity Demand (SRF 551.1). This form collects information on actual and estimated cashflows, member transactions and foreign currency contracts outstanding.
General directions and notes
Reporting level
SRF 551.1 must be completed for each RSE, defined benefit RSE and pooled superannuation trust (PST).
Reporting tables
Tables described in this reporting form list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.
The Unique identifier column indicates which field or fields form the primary key of the table. Where a field has ‘Y’ in the Unique identifier column, this denotes that this field forms part of the primary key for the table. A blank cell in the Unique identifier column means that the field does not form part of the primary key for the table. Any specific combination of values in the fields that form the primary key of a table must not appear on more than one row in that table when reported.
Reporting basis and unit of measurement
Report all items on SRF 551.1 in accordance with the Australian Accounting Standards.
Assets and liabilities denominated in currencies other than AUD are to be converted to AUD using the mid-point rate (of market buying and selling spot quotations) effective as at the end of the reporting period. An RSE licensee may use those AUD exchange rates that it judges to be a representative closing mid-market rate as at the end of the reporting period. However, to ensure consistency across related returns and to assist in the reconciliation between these returns, an RSE licensee must use the same exchange rates across all returns submitted to APRA.
Amounts in SRF 551.1 are to be reported as whole dollars. Percentages are to be reported as an unconverted number to two decimal places. For example, 12.34 per cent is to be reported as 0.1234.
Items on SRF 551.1 must be reported as at the end of the reporting period.
Tables 2 and 4 are to be reported for internally managed investment options only.
Definitions
Terms highlighted in bold italics indicate that the definition is provided in Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections (SRS 101.0).
Specific instructions
Table 1: RSE Member Cash Flows
Instructions
Part Liquidity demand - Financial Sector (Collection of Data) (reporting standard) determination No. 6 of 2025 - Liquidity demand | Zoe
For each RSE, report the dollar value of net members’ flows within the reporting period in Column 1.
Where a liquidity stress test has been conducted during the reporting period, report the estimated value of net members’ flows in Column 2 based on the relevant worst case liquidity stress test scenario of the RSE licensee’s liquidity stress testing.
In Column 3, report the number of days used to calculate the estimated stressed net cash flows based on the RSE licensee’s liquidity stress testing. For example, if the estimated stressed net cash outflows is for 30 days, report 30 days. The liquidity stress test relied upon in this table must be the same as the test reported in SRF 551.0 table 1.
Column
Field name
Unique identifier
Applicable to
Valid values
Description
1
Actual Net Cash Flows
All filers
Whole dollars
Report the actual net cash flows.Report net inflows as a positive number and net outflows as a negative number.
2
Estimated Stressed Net Cash Flows
All filers
Whole dollars
Report the estimated stressed net cash flows. This should reflect the RSE licensee’s stressed net cash flows under its worst case liquidity stress test scenario.Report net inflows as a positive number and net outflows as a negative number.
3
Number Of Days Covered
All filers
Positive Integer
Report the assumed number of days used to calculate the estimated stressed net cash flows.
Table 2: RSE Investment Calls On Liquidity
Instructions
For each RSE, report the dollar value of actual net cash flows for internally managed investment options within the reporting period in Column 3.
Where a liquidity stress test has been conducted during the reporting period, report the estimated value of net cash inflows or outflows based on the relevant worst case liquidity stress test scenario of the RSE licensee’s liquidity stress testing in Column 4 for the relevant Cash Flow Type.
In Column 5, report the number of days that applies to the estimated cash flows in Column 4 based on the RSE licensee’s liquidity stress test. The liquidity stress test relied upon in this Table must be the same as the test reported in SRF 551.0 Table 1.
Report a description of other funding requirements.Where the Cash Flow Type reported in Column 1 is not ‘Other Funding Requirements’, report ‘Not Applicable’.
3
Actual Net Cash Flows
All filers
Whole Dollars
Report the actual net cash flows associated with internally managed investment options of the RSE.Report net inflows as a positive number and net outflows as a negative number.
4
Estimated Stressed Net Cash Flows
All filers
Whole Dollars
Report the estimated stressed net cash flows. This should reflect the RSE licensee’s stressed net cash flows under its worst case liquidity stress test scenario.Report net inflows as a positive number and net outflows as a negative number.
5
Number Of Days Covered
All filers
Positive Integer
Report the assumed number of days used to calculate the estimated stressed net cash flows.
Table 3: Investment Option Member Cash Flows
SRF 551.1 Table 3 must be completed for the following types of investment options within an RSE, defined benefit RSE or PST:
investment options which underlie a MySuper Product;
investment options with a Liquidity Provider Type of ‘Liquidity Provider’ as reported in Table 1 of Reporting Form SRF 605.1 Investment Option Transaction and Pricing Attributes (SRF 605.1);
investment options with actual allocation of 20% or more to unlisted assets as reported in Table 2 of Reporting Form SRF 550.0 Asset Allocation (SRF 550.0) and with an investment value of at least $50 million. For the purposes of reporting in this form, unlisted assets include Unlisted Property, Unlisted Infrastructure, Unlisted Equity, Unlisted Alternatives and Private Debt;
investment options with a 100% benchmark allocation to Investment Strategic Sector Type of 'Cash' as reported in Table 1 of SRF 550.0 and with an investment value of at least $50 million.
The following types of investment option are excluded from SRF 551.1 Table 3:
investment options which are permitted to be aggregated in Table 3 of SRF 605.0;
investment options which are reported on SRF 605.0 under investment option category Annuity; and
investment options which solely underlie products with the Superannuation Product Category Type of ‘Insurance Only’ or ‘Whole of Life or Endowment’.
Instructions
Items on SRF 551.1 Table 3 must be reported with respect to transactions that occurred during the reporting period.
For each investment option, report the dollar value of Net Members’ Flows within the reporting period in Column 5 for the relevant combination of Taxation Status and Cash Flow Type.
Where a liquidity stress test has been conducted during the reporting period, report the estimated value of net members’ flows based on the relevant worst case liquidity stress test scenario of the RSE licensee’s liquidity stress testing in Column 6 for the relevant combination of Taxation Status and Cash Flow Type.
In Column 7, report the assumed number of days used to calculate the estimated cashflows reported in Column 6 based on the RSE licensee’s liquidity stress test. The liquidity stress test relied upon in this Table 3 must be the same as the test reported in SRF 551.0 Table 1.
Column
Field name
Unique identifier
Applicable to
Valid values
Description
1
Investment Option Identifier
Y
All filers
No more than 20 alpha-numeric characters (with no special characters)
Report the investment option identifier. The investment option identifier must correspond to an investment option identifier reported in SRF 605.0.
2
Taxation Status
Y
All filers
Taxed (Accumulation and Transition to Retirement)Untaxed (Retirement)Taxed and Untaxed (Defined Benefit)
Report the criteria for reporting the investment option.
4
Cash Flow Type
Y
All filers
Net Members’ FlowsProduct Transfers
Report the cash flow type.
5
Actual Net Cash Flows
All filers
Whole dollars
Report the actual net cash flows.Report net inflows as a positive number and net outflows as a negative number.
6
Estimated Stressed Net Cash Flows
All filers
Whole dollars
Report the estimated stressed net cash flows. This should reflect the RSE licensee’s stressed net cash flows under its worst case liquidity stress test scenario.Report net inflows as a positive number and net outflows as a negative number.
7
Number Of Days Covered
All filers
Positive Integer
Report the assumed number of days used to calculate the estimated stressed net cash flows.
Table 4: Investment Option Investment Calls On Liquidity
SRF 551.1 Table 4 must be completed for the following types of internally managed investment options within an RSE, defined benefit RSE or PST:
investment options which underlie a MySuper Product;
investment options with a Liquidity Provider Type of ‘Liquidity Provider’ as reported in Table 1 of Reporting Form SRF 605.1 Investment Option Transaction and Pricing Attributes (SRF 605.1) for the same reporting period;
investment options with actual allocation of 20% or more to unlisted assets as reported in Table 2 of Reporting Form SRF 550.0 Asset Allocation (SRF 550.0) and with an investment value of at least $50 million. For the purposes of reporting in this form, unlisted assets include Unlisted Property, Unlisted Infrastructure, Unlisted Equity, Unlisted Alternatives and Private Debt;
investment options with a 100% benchmark allocation to Investment Strategic Sector Type of ‘Cash’ as reported in Table 1 of SRF 550.0 and with an investment value of at least $50 million.
The following types of investment option are excluded from SRF 551.1 Table 4:
investment options which are permitted to be aggregated in Table 3 of SRF 605.0;
investment options which are reported on SRF 605.0 under investment option category Annuity; and
investment options which solely underlie products with the Superannuation Product Category Type of ‘Insurance Only’ or ‘Whole of Life or Endowment’.
Instructions
Items on SRF 551.1 Table 4 must be reported with respect to transactions that occurred during the reporting period.
For each investment option, report the dollar value of actual net cash flows within the reporting period in Column 6, for the relevant combination of Taxation Status and Cash Flow Type.
Where derivatives are managed at the RSE level, APRA expects RSE licensees to apportion margining or contract settlements to each relevant investment option, including in scope option.
Where a liquidity stress test has been conducted during the reporting period, report the estimated value of net cash inflows or outflows based on the relevant worst case liquidity stress test scenario of the RSE licensee’s liquidity stress testing in Column 7, for the relevant combination of Taxation Status and Cashflow Type.
In Column 8, report the assumed number of days used to calculate the estimated stressed net cash flows in Column 7 based on the RSE licensee’s liquidity stress testing. The liquidity stress test relied upon in this Table must be the same as the test reported in SRF 551.0 Table 1.
Column
Field name
Unique identifier
Applicable to
Valid values
Description
1
Investment Option Identifier
Y
All filers
No more than 20 alpha-numeric characters (with no special characters)
Report the investment option identifier. The investment option identifier must correspond to an investment option identifier reported in SRF 605.0.
2
Taxation Status
Y
All filers
Taxed (Accumulation and Transition to Retirement)Untaxed (Retirement)Taxed and Untaxed (Defined Benefit)
Report a description of other funding requirements.Where the Cash Flow Type reported in Column 1 is not ‘Other Funding Requirements’, report ‘Not Applicable’.
6
Actual Net Cash Flows
All filers
Whole Dollars
Report the actual net cash flows.Report net inflows as a positive number and net outflows as a negative number.
7
Estimated Stressed Net Cash Flows
All filers
Whole Dollars
Report the estimated stressed net cash flows.Report net inflows as a positive number and net outflows as a negative number.
8
Number Of Days Covered
All filers
Positive Integer
Report the assumed number of days used to calculate the estimated stressed net cash flows.
Table 5: Foreign Currency Contracts Outstanding
Instructions
Report the aggregate amount of directly held (including Individually Managed Mandate) foreign exchange (FX) contracts outstanding as at the end of the reporting period.
Column
Field name
Unique identifier
Applicable to
Valid values
Description
1
Foreign Currency Contracts Outstanding
Y
All filers
Principal Value Of Foreign Currency Contracts OutstandingPositive Market Value Of Foreign Currency Contracts OutstandingNegative Market Value Of Foreign Currency Contracts Outstanding
Report the foreign currency contract outstanding value type.Report in one row (Principal Value of Foreign Currency Contracts Outstanding) the Principal Value of Foreign Currency Contracts Outstanding and allocate values under each of the respective maturity time periods.Report in one row (Positive Market Value of Foreign Currency Contracts Outstanding) the Positive Market Value of Foreign Currency Contracts Outstanding and allocate values under each of the respective maturity time periods.Report in one row (Negative Market Value of Foreign Currency Contracts Outstanding) the Negative Market Value of Foreign Currency Contracts Outstanding and allocate values under each of the respective maturity time periods.
2
Up To 7 Days
All filers
Whole dollars
Report the principal value, positive or negative market value of foreign currency contracts outstanding maturing within 7 days.
3
8 To 30 Days
All filers
Whole dollars
Report the principal value, positive or negative market value of foreign currency contracts outstanding maturing from 8 days up to 30 days.
4
31 To 90 Days
All filers
Whole dollars
Report the principal value, positive or negative market value of foreign currency contracts outstanding maturing from 31 days up to 90 days.
5
91 to 120 Days
All filers
Whole dollars
Report the principal value, positive or negative market value of foreign currency contracts outstanding maturing from 91 days up to 120 days.
6
121 To 150 Days
All filers
Whole dollars
Report the principal value, positive or negative market value of foreign currency contracts outstanding maturing from 121 days up to 150 days.
7
151 To 180 Days
All filers
Whole dollars
Report the principal value, positive or negative market value of foreign currency contracts outstanding maturing from 151 days up to 180 days.
8
Greater than 180 Days
All filers
Whole dollars
Report the principal value, positive or negative market value of foreign currency contracts outstanding maturing after 180 days.
Table 6: Investment Options With Significant Net Member Flows
Instructions
Report the investment options with an investment value of at least $50 million that have actual net cash flows that represent 3% or more of the investment option’s total investment values as at the beginning of the quarter.
The following types of investment options are excluded from SRF 551.1 Table 6:
investment options which are permitted to be aggregated in Table 3 of SRF 605.0;
investment options which are reported on SRF 605.0 under investment option category Annuity; and
investment options which solely underlie products with the Superannuation Product Category Type of ‘Insurance Only’ or ‘Whole of Life or Endowment’.
Column
Field name
Unique identifier
Applicable to
Valid values
Description
1
Investment Option Identifier
Y
All filers
No more than 20 alpha-numeric characters (with no special characters)
Report the investment option identifier. The investment option identifier must correspond to an investment option identifier reported in SRF 605.0.
2
Taxation Status
Y
All filers
Taxed (Accumulation and Transition to Retirement)Untaxed (Retirement)Taxed and Untaxed (Defined Benefit)
Report the taxation status
3
In-Specie Indicator
Y
YesNo
Report whether the member inflow/(outflow) is in-specie or not.Report ‘Yes’ if in-specie, otherwise report ‘No’.
4
Actual Net Cash Flows
All filers
Whole Dollars
Report the actual net cash flows. Report inflows as a positive number and outflows as a negative number.