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
Previous Article
EIOPA Publishes Report on Understanding Cyber Insurance in EuropeRelated Insights
|
News
US Agencies Propose Revisions to FFIEC Reports 031, 041, 051, and 101US Agencies (FDIC, FED, and OCC) propose to extend for three years, with revision, FFIEC 031, FFIEC 041, FFIEC 051, and FFIEC 101.
February 21, 2019
WebPage
Regulatory News
|
|
News
OFR Adopts Data Collection Rule on Centrally Cleared Repo TransactionsOFR adopted a final rule to establish a data collection covering centrally cleared funding transactions in the U.S. repurchase agreement (repo) market.
February 20, 2019
WebPage
Regulatory News
|
|
News
FHFA Finalizes Rule on Federal Home Loan Bank Capital RequirementsFHFA published, in Federal Register, the final rule to adopt, as its own, portions of the regulations of the Federal Housing Finance Board pertaining to the capital requirements for the Federal Home Loan Banks.
February 20, 2019
WebPage
Regulatory News
|
|
News
PRA Publishes PS4/19 on Loss-Absorbency Mechanism Under Solvency IIPRA published a policy statement (PS4/19) that provides feedback on responses to the consultation paper (CP27/18) on adjusting for the reduction of loss absorbency where own fund instruments are taxed on write down under Solvency II.
February 20, 2019
WebPage
Regulatory News
|
|
News
SRB Publishes Framework for Performing Valuations in ResolutionThe framework provides independent valuers and the general public with an indication of the expectations of SRB on the principles and methodologies for valuation reports, as set out in the legal framework.
February 19, 2019
WebPage
Regulatory News
|
|
News
BIS Paper on Effect of Securities Lending on OTC Market LiquidityBIS published a working paper that studies how securities lending affects over-the-counter market (OTC) liquidity.
February 19, 2019
WebPage
Regulatory News
|
|
News
US Agencies Extend Consultation Period for the Proposed SA-CCRUS Agencies (FDIC, FED, and OCC) extended the comment period for a proposed rule to update their standards for how firms measure counterparty credit risk posed by derivative contracts.
February 18, 2019
WebPage
Regulatory News
|
|
News
FED Extends Consultation Period for Stress Testing RuleFED has published in the Federal Register a notice proposing amendments to the company run and supervisory stress test rules.
February 15, 2019
WebPage
Regulatory News
|
|
News
EBA Single Rulebook Q&A: Third Update for February 2019EBA published answers to two questions under the Single Rulebook question and answer (Q&A) updates for this week.
February 15, 2019
WebPage
Regulatory News
|
|
News
SEC Proposes Rule on Risk Mitigation Techniques for Uncleared SBSSEC proposed a rule that would require the application of specific risk-mitigation techniques to portfolios of security-based swaps (SBS) that are not submitted for clearing.
February 15, 2019
WebPage
Regulatory News
|
