APRA Releases Improved Data Quality Controls for D2A Reporting
APRA released improved data quality controls on text fields for D2A reporting. These changes are relevant for all APRA-reporting institutions.
APRA is committed to ensuring that data submitted through D2A is fit for purpose and complies with its reporting standards. To do this, APRA uses a range of measures to confirm the quality of data submitted to it. Due to a shortcoming of the D2A system, entities that submit data via XML files are currently able to submit invalid values in D2A input fields for drop-down lists (that is, values that are not in the drop-down list according to the values prescribed in the reporting standards and taxonomy). Moreover, some forms have minor inconsistencies between the APRA reporting taxonomy and the drop-down lists in the D2A form specifications. As a result of these issues, some entities have been able to (unintentionally) submit invalid values in the past.
To fix the first issue, APRA will be implementing additional validation rules for most returns starting from the September 2018 quarterly reporting period. These rules will check to ensure that values submitted for drop-down list fields match the list of valid values as per the APRA reporting taxonomy. APRA will not yet implement additional validation rules on forms where it has identified minor inconsistencies between the form specification and the reporting taxonomy (the second issue). APRA will first make minor changes to these forms to fix the inconsistencies and will communicate such changes in advance of implementation. In situations where it is clear what the correct value should be, APRA will internally adjust the already submitted invalid data for reporting and analysis purposes. APRA will do so without modifying the original submitted D2A records. APRA will contact affected entities if there is any doubt about what course of action to take.
Related Links
Keywords: Asia Pacific, Australia, Banking, Insurance, Reporting, D2A, Validation Rules, APRA
Featured Experts

David Fihrer
Skilled life insurance actuary; subject matter expert on IFRS 17 and source of earnings
Previous Article
OSFI Publishes the 2019 LICAT Guideline for Life InsurersRelated Articles
EBA Finalizes Remuneration Standards for Investment Firms in EU
EBA finalized the two sets of draft regulatory technical standards on the identification of material risk-takers and on the classes of instruments used for remuneration under the Investment Firms Directive (IFD).
ECA Recommends Actions to Enhance Resolution Planning for Banks
EC published, in the Official Journal of the European Union, a notification that the European Court of Auditors (ECA) has published a special report on resolution planning in the Single Resolution Mechanism.
BoE Publishes Key Elements of the 2021 Stress Testing for Banks in UK
BoE published a scenario against which it will be stress testing banks in 2021, in addition to setting out the key elements of the 2021 stress test, guidance on the 2021 stress test, and the variable paths for the 2021 stress test.
PRA Proposes Rules on Identity Verification of Depositor Protection
PRA published a consultation paper (CP3/21) proposes rules regarding the timing of identity verification required for eligibility of depositor protection under the Financial Services Compensation Scheme (FSCS).
FSB Publishes Work Program for 2021
FSB published the work program for 2021, which reflects a strategic shift in priorities in the COVID-19 environment.
FCA Issues Update on Move to New Data Collection Platform
FCA announced that 50% firms have started using the new data collection platform RegData, which is slated to replace the existing platform known Gabriel.
Bundesbank Publishes Derivation Rules for Reporting by Banks
Bundesbank published Version 5.0 of the derivation rules for completeness check at the form level, with respect to the data quality of the European harmonized reporting system.
FED Revises Capital Planning and Stress Testing Requirements for Banks
FED finalized a rule that updates capital planning requirements to reflect the new framework from 2019 that sorts large banks into categories, with requirements that are tailored to the risks of each category.
ECB Releases Results of Bank Lending Survey for Fourth Quarter of 2020
ECB published results of the quarterly lending survey conducted on 143 banks in the euro area.
ESAs Publish Reporting Templates for Financial Conglomerates
ESAs published the final draft implementing technical standards on reporting of intra-group transactions and risk concentration of financial conglomerates subject to the supplementary supervision in EU.