APRA Adds a Reporting Requirement for Government SME Guarantee Scheme
APRA released a new reporting standard ARS 920.0 Australian Government Small and Medium Enterprise (SME) Guarantee Scheme to collect data from financial institutions taking part in the Federal government’s COVID SME Guarantee Scheme. The reporting standard includes Reporting Form ARF 920.0 Australian Government SME Guarantee Scheme (Portfolio Information) and Reporting Form ARF 920.1 Australian Government SME Guarantee Scheme (Loan Level Details). ARS 920.0 must be completed weekly by all lenders that are approved under the scheme. ARS 920.0 will be in effect from April 16, 2020 and will apply to reporting periods ending on or after April 17, 2020. The first data collection is due on May 01, 2020 for information as at April 17, 2020.
Under the COVID SME Guarantee Scheme, the government will provide a guarantee of 50% to SME lenders for new unsecured loans to be used for working capital. ARS 920.0 will support the scheme by providing data to government on key metrics, including number of loans approved, number of loans impaired, and number of guarantee claims made and paid. This reporting standard applies to all authorized deposit-taking institutions and registered financial corporations that are granted a guarantee under section 5 of the Guarantee of Lending to SMEs (Coronavirus Economic Response Package) Act 2020. Due to the need to provide this data to the government promptly, APRA has had to forgo its usual consultation process for the new reporting standards in this instance.
Related Links
Effective Date: April 16, 2020
Keywords: Asia Pacific, Australia, Banking, SME, COVID-19, Reporting, Guarantee Scheme, ARS 920, Data Collection, ARF 920, Statistics, APRA
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Victor Calanog, Ph.D.
Leading economist; commercial real estate; performance forecasting, econometric infrastructure; data modeling; credit risk modeling; portfolio assessment; custom commercial real estate analysis; thought leader.
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Previous Article
RBI Announces Regulatory Measures to Ease Impact of COVID-19 CrisisRelated Articles
EC to Defer Application of SFDR Standards Till July 2022
The European Commission (EC) announced plans to defer the application of 13 regulatory technical standards under the Sustainable Finance Disclosure Regulation (2019/2088) by six months, from January 01, 2022 to July 01, 2022.
BoE Consults on Approach to Setting MREL, Publishes Bail-In Guidance
The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.
EBA Seeks Views on Proportionality Assessment Methodology
The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.
US Agencies Propose Changes to Call Reports and Instructions
Certain regulatory authorities in the US are extending period for completion of the review of certain residential mortgage provisions and for publication of notice disclosing the determination of this review until December 20, 2021.
PRA Finalizes Rulebook Definition of Higher Paid Material Risk-Taker
The Prudential Regulation Authority (PRA) published the policy statement PS18/21, which introduces an amendment in the definition of "higher paid material risk taker" in the Remuneration Part of the PRA Rulebook.
EBA Examines Asset Encumbrance in Banking Sector
The European Banking Authority (EBA) published its annual report on asset encumbrance in banking sector.
EBA Publishes Methodological Guide to Mystery Shopping
The European Banking Authority (EBA) published a methodological guide to mystery shopping.
APRA Issues Update on Capital Reform Policy Settings for Banks
The Australian Prudential Regulation Authority (APRA) released a letter to authorized deposit-taking institutions to provide an update on key policy settings for the capital framework reforms, which will come into effect from January 01, 2023.
CPMI-IOSCO Assess Continuity Planning of Market Infrastructures
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a report that assesses the business continuity planning activities of financial market infrastructures or FMIs.
ESMA Responds to Proposal Related to Sustainability Standards Board
The European Securities and Markets Authority (ESMA) has responded to the IFRS consultation on targeted amendments to the IFRS Foundation constitution to accommodate an International Sustainability Standards Board (ISSB) to set IFRS Sustainability Standards.
