Featured Product

    APRA Releases Information to Help Prepare for APRA Connect

    August 19, 2021

    The Australian Prudential Regulation Authority (APRA) has published further information to assist entities in getting ready for the new data collection solution APRA Connect, which will be available from September 13, 2021. This information covers the migration to new solution, the reporting of information on responsible persons and the Banking Executive Accountability Regime (BEAR), the application programming interface (API) functionality, and the final taxonomy artefacts. The APRA Connect taxonomy artefacts are being provided to help entities prepare data for submission on APRA Connect. The artefacts include data dictionary, validations, reporting taxonomy, and schema (XSD) to validate files. Artefacts should be used in conjunction with the relevant reporting standard.

    All entities will be responsible for maintaining entity information, including contact details, responsible persons, and related parties (including BEAR reporting for authorized deposit-taking institutions), on APRA Connect. To enable a smooth transition to APRA Connect, all responsible persons and BEAR data submitted in D2A prior to September 05, 2021 will be migrated to APRA Connect. Entities should submit any known updates to responsible persons and BEAR prior to that date. Any updates for the period September 06-12 should be submitted through APRA Connect after September 13, 2021. However, entities that need to submit BEAR information in the week of September 06 to meet required reporting timeframes should submit via D2A. APRA will update this data in APRA Connect and the data will be available soon after APRA Connect goes live. Where invalid data have been submitted in D2A, placeholders will be entered into APRA Connect during migration. Entities are required to review and update responsible person information migrated into APRA Connect. The APRA Connect Guide provides information on how to add or update responsible persons and BEAR returns.

    The APRA Connect API functionality for the submission of data returns will not be available at go-live. APRA will advise when API submissions will be available in the APRA Connect test and production environments. APRA also set out the following reminders for entities to get ready for go-live:

    • APRA Connect test and production environments are distinct and separate environments and there is no data transfer between the two environments.
    • Entities will need to be ready to set up users in the APRA Connect production environment from September 13. Entities are required to nominate an initial Regulatory Reporting Administrator (RRA) for each entity (ABN) via the D2A form “RRA_PROD: APRA Connect nomination for 13 September go live.”
    • Entities will need to nominate any additional roles that are required to be assigned to the initial RRA. Additional roles that can be requested for the initial RRA are Corporate Profile Administrator and Ad hoc return permissions.
    • A webinar is scheduled for September 01, 2021 to provide entities with an overview of available information and support and will include a demonstration of APRA Connect.  

     

    Related Links

    Keywords: Asia Pacific, Australia, Banking, APRA Connect, D2A, Reporting, Data Collection, BEAR, Operational Risk, API, APRA

    Related Articles
    News

    EU Agencies Update LCR Rule and Macro-Prudential Policy Recommendation

    The European Commission (EC) published the Delegated Regulation 2022/786 with regard to the liquidity coverage requirements for credit institutions under the Capital Requirements Regulation (CRR).

    May 23, 2022 WebPage Regulatory News
    News

    EBA Publishes Regulatory Standards to Identify Shadow Banking Entities

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying the criteria to identify shadow banking entities for the purposes of reporting large exposures.

    May 23, 2022 WebPage Regulatory News
    News

    EIOPA Examines Physical Climate Risk Exposure, SII Non-Compliance

    The European Insurance and Occupational Pensions Authority (EIOPA) published a report assessing insurers' exposure to physical climate change risks

    May 20, 2022 WebPage Regulatory News
    News

    EC Publishes Results on Review of Web Accessibility Directive

    The European Commission (EC) published the results of a public consultation, held in October 2021, on the review of the Web Accessibility Directive.

    May 19, 2022 WebPage Regulatory News
    News

    NGFS Report Explores Quantification of Climate Risk Differentials

    The Network for Greening the Financial System (NGFS) published two reports to aid central banks and regulators in their oversight of the financial sector and in their central bank operations

    May 19, 2022 WebPage Regulatory News
    News

    MAS Consults on Adjustment Spreads for Conversion of SOR Contracts

    The Monetary Authority of Singapore (MAS) and the SC-STS are jointly consulting, until June 10, 2022, on setting adjustment spreads for the conversion of legacy SOR contracts to SORA reference rate.

    May 18, 2022 WebPage Regulatory News
    News

    OSFI Discusses Benchmark Rate Transition, Sets Out Work Priorities

    The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.

    May 17, 2022 WebPage Regulatory News
    News

    EBA Proposes Standards to Support Secondary NPL Markets

    The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.

    May 17, 2022 WebPage Regulatory News
    News

    EU Confirms Agreement on Rules on Cybersecurity and Banking Resolution

    The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).

    May 13, 2022 WebPage Regulatory News
    News

    EBA Issues Standards for Crowdfunding Service Providers Under ECSPR

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.

    May 13, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8206