APRA Publishes Proposal to Increase Transparency of Banking Data
APRA proposed to substantially increase the volume and breadth of data it makes publicly available on authorized deposit-taking institutions, including banks, credit unions, and building societies. To this end, APRA has published a consultation on the confidentiality of data used in authorized deposit-taking institution quarterly publications and additional historical data. The quarterly aggregate authorized deposit-taking institution statistical publications include Quarterly Authorized Deposit-taking Institution Performance Statistics (QADIP) and Quarterly Authorized Deposit-taking Institution Property Exposures Statistics (QPEX). In a letter to industry, APRA outlined plans to determine that all data collected for its quarterly authorized deposit-taking institution publications should be considered non-confidential, allowing it to be published. The consultation is open until February 28, 2020.
The proposed non-confidentiality determination would apply to all such data from the date the authorized deposit-taking institution was required to provide the information to APRA under the relevant reporting standard. The determination will apply prospectively to data of the kind specified in the determination in reporting documents yet to be received by APRA. From 2020, APRA proposes to publish:
- Entity-level data specified in the consultation (that is related to current authorized deposit-taking institution quarterly publications)
- Historical data series for entity level data for all data from reporting forms used in its authorized deposit-taking institution publications (Attachment 1) with a three-year lag from when it is given to APRA
- Specific commentary from individual authorized deposit-taking institutions explaining material revisions to, or large movements in their data, including whether or not APRA requested the revision
APRA is proposing to determine as non-confidential all the data items sourced from the forms (that is, reporting documents, listed in Attachment 1) used in QADIP. The proposed determination will include data items reported by authorized deposit-taking institutions, highlighted in Attachment 2. APRA also proposes to determine non-confidential, in their entirety, the main forms used for the new version of QPEX and similar forms in the Economic and Financial Statistics (EFS) data collection, due to the significant public interest in and usage of these statistics:
- Reporting Form ARF 223.0 Residential Mortgage Lending
- Reporting Form ARF 230.0 Commercial Property
- Reporting Form ARF 743.0 ABS/RBA Business Finance
- Reporting Form ARF 744.0 ABS/RBA Housing Credit Stocks, Flows and Interest Rates (Standard/Reduced)
The move toward greater transparency and scrutiny of the banking sector is aimed to increase accountability, supporting competition, and lifting overall industry standards. At present, APRA publishes less than 1% of the authorized deposit-taking institution data it collects due to legal restrictions in the APRA Act 1998. This change would allow APRA to significantly increase this figure. APRA intends to consult about forms not included in the consultation at a later date.
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Comment Due Date: February 28, 2020
Keywords: Asia Pacific, Australia, Banking, Reporting, QADIP, QPEX, Data Collection, Statistics, EFS, Transparency, APRA
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