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    APRA Updates Validation Rules, Proposes Changes Resulting from APS 220

    February 14, 2022

    The Australian Prudential Regulation Authority (APRA) updated the lists of the Direct to APRA validation and derivation rules for authorized deposit-taking institutions, insurers, and superannuation entities. APRA also proposed minor changes to the statistical publications on quarterly authorized deposit-taking institution performance (QADIP) and quarterly authorized deposit-taking institution property exposures (QPEX), with the consultation period ending on March 28, 2022. The proposed changes reflect the introduction of APS 220, the new prudential standard on credit risk management and the consequential changes to the reporting requirements, which took effect on January 01, 2022. These changes are expected to be effective from the March 2022 reference period.

    As a result of the new APS 220, APRA has updated various reporting standards, including reporting standard on credit quality (ARS 220.0). These updates give effect to a variety of changes, as part of which the concept of “impaired” has been replaced with the concept of “non-performing.” In August 2021, APRA had announced a phased implementation of the new ARS 220.0. In the meantime, an interim standard will apply while authorized deposit-taking institutions develop their solutions for delivering the full suite of data. The interim ARS 220.0 takes effect from the March 2022 quarter. Consequential changes to other reporting standards will take effect in the same period, including the reporting standard on residential mortgage lending (ARS 223.0) and commercial property exposures (ARS 230.0). As a result of the reporting standards changes, updates are required to QADIP and QPEX. The proposed changes include discontinuation of certain data series and addition of new data series to the QADIP and QPEX publications. Updates will be made to QADIP asset quality tables and QPEX asset quality items. APRA  also released a mock-up of the proposed statistical publications.

     

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    Keywords: Asia Pacific, Australia, Banking, Insurance, Validation Rules, Derivation Rules, Reporting, D2A, Basel, Statistical Reporting, QADIP, QPEX, Credit Risk, APS 220, ARS 220, APRA

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