Featured Product

    APRA Releases Improved Data Quality Controls for D2A Reporting

    August 02, 2018

    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
    Related Articles
    News

    FSB Sets Out Effective Practices for Cyber Incident Recovery

    FSB finalized the toolkit of effective practices to assist financial institutions in their cyber incident response and recovery activities.

    October 19, 2020 WebPage Regulatory News
    News

    HKMA Urges Early Action for Adherence to IBOR Fallbacks Protocol

    HKMA urged authorized institutions to take early action to adhere to the IBOR Fallbacks Protocol, which ISDA is expected to publish soon.

    October 16, 2020 WebPage Regulatory News
    News

    FSB Sets Out Roadmap for Transition to Alternative Reference Rates

    FSB published a global transition roadmap for London Inter-bank Offered Rate (LIBOR).

    October 16, 2020 WebPage Regulatory News
    News

    HM Treasury Publishes Response to Proposal on BRRD2 Transposition

    HM Treasury published a document that summarizes the responses received from a consultation on the approach of UK to transposition of the revised Bank Resolution and Recovery Directive (BRRD2).

    October 15, 2020 WebPage Regulatory News
    News

    HM Treasury Publishes Response to Proposal on CRD5 Transposition

    HM Treasury published the government response to the feedback received on the consultation for updating the prudential regime of UK before the end of the Brexit transition period.

    October 15, 2020 WebPage Regulatory News
    News

    BoE Publishes Reporting Schedule for Statistical Returns

    In a recent statistical notice, BoE announced publication of the reporting schedule for statistical returns for 2021.

    October 15, 2020 WebPage Regulatory News
    News

    EC Welcomes Declaration by Member States on EU Cloud Federation

    EC welcomed the joint declaration by 25 EU member states on building the next generation of cloud in Europe.

    October 15, 2020 WebPage Regulatory News
    News

    PRA Updates Supervisory Statement on Counterparty Credit Risk

    PRA published the final policy statement PS22/20, which contains the updated supervisory statement SS12/13 on counterparty credit risk.

    October 14, 2020 WebPage Regulatory News
    News

    FSB Publishes Update on Work to Address Market Fragmentation

    FSB published an update on its work to address market fragmentation. FSB is working in this area in collaboration with the other standard-setting bodies.

    October 14, 2020 WebPage Regulatory News
    News

    EBA Proposes to Revise Guidelines on Incident Reporting Under PSD2

    EBA proposed revisions to the guidelines on major incident reporting under the second Payment Service Directive (PSD2).

    October 14, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5967