APRA Responds to Consultation on EFS Collection
APRA released a response to the submissions paper to the consultation on proposed changes to the Economic and Financial Statistics (EFS) data collection. APRA had received 29 submissions to the consultation. APRA also published the revised “Reporting Standard ARS 701.0 ABS/RBA Definitions” and “Reporting Guidance ABS/RBA Reporting Concepts for the EFS Collection." APRA, Australian Bureau of Statistics (ABS), and Reserve Bank of Australia (RBA) are now consulting on the revised version of the data quality framework for the EFS collection. Written submissions should be sent by October 18, 2017.
APRA, ABS, and RBA had, on January 18, 2017, proposed to modernize the data collection renamed as the EFS collection. The proposal included implementation of updated and new forms in three phases. The response paper sets out the main themes of the submissions received and details both the agencies’ responses to the feedback and the considerations involved in reaching these responses. The main themes raised are related to implementation, data quality, and data concepts.
Related Links
Consultation on EFS Collection
Comment Due Date: October 18, 2017
Keywords: Asia Pacific, Australia, Banking, Statistics, Data Collection, EFS Collection, APRA
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