Financial Sector (Collection of Data) (reporting standard) determination No. 7 of 2020
Reporting Standard ARS 920.4Reporting Standard ARS 920.4
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Australian Government Arts Sector Show Starter Loan (SSL) Guarantee Scheme
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Authority
This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.
Purpose
Information collected by Reporting Form ARF 920.4 Australian Government Arts Sector SSL Guarantee Scheme (Portfolio Information) (ARF 920.4) and Reporting Form ARF 920.5 Australian Government Arts Sector SSL Guarantee Scheme (Loan Level Details) (ARF 920.5) is used for the purpose of enabling APRA to assist the Commonwealth Government administer the Australian Government SSL Guarantee Scheme. [1] This information may also be used by APRA for prudential purposes.
Application
This Reporting Standard applies to all authorised deposit-taking institutions (ADIs) granted a guarantee under section 5 of the Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Act 2020 in relation to the Australian Government Arts Sector SSL Guarantee Scheme.
Commencement
This Reporting Standard applies to reporting periods ending on or after 18 December 2020.
Information required
An ADI to which this reporting standard applies must provide APRA with the information required by ARF 920.4 and ARF 920.5 in respect of each reporting period on a domestic books consolidation.
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 (i.e. a web-based solution) 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 of this Reporting Standard, an ADI to which this Reporting Standard applies must provide the information required by this Reporting Standard in respect of each business week.
Subject to paragraph 10 of this Reporting Standard, the information required by this Reporting Standard must be provided to APRA within 10 business 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; and
(b) the requirements of the Commonwealth Government of Australia.
APRA may, in writing, grant an ADI an extension of a due date in which case the new due 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 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 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.
Interpretation
In this Reporting Standard:
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 Government Arts Sector SSL Guarantee Scheme means the scheme whereby the Minister may grant a guarantee to an ADI under section 5 of the Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Act 2020.
business days means ordinary business days, exclusive of Saturdays, Sundays and public holidays.
business week means the period commencing each Monday and ending the following Friday.
domestic books has the meaning given by Reporting Standard ARS 701.0 ABS/RBA Definitions for the EFS Collection.
due date means the relevant due date under paragraph 8 or, if applicable, paragraph 10.
reporting period means a period mentioned in paragraph 7 or, if applicable, paragraph 9.
Unless the contrary intention appears, a reference to an Act, Prudential Standard, Australian Accounting Standard or Reporting 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.
Part Reporting Standard ARS 920.4 - Financial Sector (Collection of Data) (reporting standard) determination No. 7 of 2020 - Reporting Standard ARS 920.4 | Zoe