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March 19, 2018

APRA revised and published the final standard APS 330, which is the Prudential Standard on Public Disclosures. APS 330 will be effective from July 01, 2018. APRA also published its response to the submissions received to the proposal for revised APS 330.

APS 330 facilitates market discipline by providing a set of common disclosure requirements for authorized deposit-taking institutions. These disclosure requirements allow market participants to assess the institutions' capital adequacy, remuneration, and other indicators of financial condition and risk profile. APS 330 of APRA implements Pillar 3 disclosure requirements of BCBS. APRA had, in November 2017, released the consultation on APS 330 to include disclosure requirements for the net stable funding ratio (NSFR). APRA received two submissions in response to its proposals:

  • One submission sought clarification on the disclosure of certain items in the NSFR disclosure template and the frequency of liquidity disclosures. In the final APS 330, APRA has provided additional guidance to clarify the issues raised with the NSFR disclosure template (Attachment F on Liquidity disclosures of the final revised APS 330). Regarding the frequency of liquidity disclosures, APRA confirms that NSFR disclosures must be made with the same frequency as, and concurrent with, the lodgment of the authorized deposit-taking institutions’ financial reports under the Corporations Act. However, the liquidity coverage ratio (LCR) disclosures are required on a quarterly basis.
  • The other submission suggested how APS 330 could be improved. The BCBS Pillar 3 framework, particularly the requirements for credit risk disclosures, are likely to be further revised following finalization of the Basel III reforms. APRA intends to consult on further changes to APS 330 and the Pillar 3 framework, when the next phase of the review of BCBS is finalized. 

 

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Effective Date: July 01, 2018

Keywords: Asia Pacific, Australia, Banking, Pillar 3, Basel III, APS 330, NSFR, LCR, Disclosure Requirements, APRA

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