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
EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.
In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.
IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.
FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.
EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.
FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.
RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.
The Trustees of the IFRS Foundation, which are responsible for the governance and oversight of IASB, have announced the appointment of Dr. Andreas Barckow as the IASB Chair, effective July 2021.
HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.
ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).