APRA published the revised “Reporting Practice Guide RPG 702.0 ABS/RBA Data Quality for the EFS Collection” and “Reporting Standard RRS 710.0 ABS/RBA Registered Financial Corporations audit for the EFS Collection.” RRS 710.0 will commence on July 01, 2019. APRA also created a web page dedicated to the Economic and Financial Statistics (EFS) data collection.
Additionally, APRA published its response to the submissions received to the proposal for a new data quality reporting standard (RRS 710.0) and the guidance (RPG 702.0) that would apply to the EFS data collection. APRA, RBA, and the Australian Bureau of Statistics (ABS) received 11 submissions from reporting entities, auditors, and an industry association. In January 2017, APRA, ABS, and RBA had proposed a revised EFS data collection, which included proposal for a new EFS data quality framework. In August 2017, in response to the feedback received, the agencies and APRA undertook a further round of consultation on the proposed framework. The revised framework retained the data quality, as indicators of the level of accuracy expected by the agencies for specified data items. The response paper sets out details of the submissions received, along with the agencies’ responses to the comments on RPG 702.0 and RRS 710.0.
Effective Date: July 01, 2019 (RRS 710.0)
Keywords: Asia Pacific, Australia, Banking, EFS Collection, Data Quality Framework, Response to Consultation, RRS 710.0, RPG 702.0, APRA
EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.
BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.
HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.
EBA published an erratum for technical package on phase 1 of the reporting framework 3.0.
APRA updated a frequently asked question (FAQ), for authorized deposit-taking institutions, on the measurement of credit risk weighted assets.
EBA published the quarterly risk dashboard, along with the results of the Risk Assessment Questionnaire survey among 60 banks and 15 market analysts.
ECB concluded the public consultation on the introduction of a digital euro in EU.
ECB published a guide that sets out the supervisory approach to consolidation in the banking sector.
The SRB Chair Elke König published an article setting out work priorities for 2021.
FDIC has selected 11 technology companies—including BearingPoint, Fed Reporter, Inc, and S&P Global Market Intelligence, LLC—for inclusion in the third and final phase of the rapid prototyping competition.