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March 19, 2018

APRA published a letter to authorized deposit-taking institutions regarding changes to reporting requirements in the Reporting Standard ARS 110.0 Capital Adequacy (ARS 110.0). APRA proposed to defer implementation of the revised ARS 110.0 until September 30, 2018.

APRA is making minor consequential changes to the reporting requirements in ARS 110.0 based on the revised mutual equity interest framework in Prudential Standard APS 111 tilted "Capital Adequacy: Measurement of Capital," which came into effect on January 01, 2018. The mutual equity interest framework facilitates the issuance of common equity tier 1 (CET1) eligible capital instruments by mutually owned authorized deposit-taking institutions. The change adds the following two line items to Reporting Form ARF 110_0_1 Capital Adequacy (Level 1) and Reporting Form ARF 110_0_2 Capital Adequacy (Level 2):

  • Item 1.1.2—Mutual Equity Interests captures all mutual equity interests on issue up to a maximum of 25% of an authorized deposit taking institutions' CET1 capital before applying regulatory adjustments.
  • Item 3.5—Excess Mutual Equity Interests captures any mutual equity interests on issue that are not eligible for inclusion in CET1 capital.

 

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Effective Date: September 30, 2018 

Keywords: Asia Pacific, Banking, CET1, Capital Adequacy, ARS 110, APRA

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