APRA to Finalize Design of the New Data Collection Solution This Year
APRA had commenced a major data transformation program to keep pace with the advancements in data, analytics, and technology. In December of last year, APRA had announced its decision to replace the data collection tool, Direct to APRA (D2A), with a new Data Collection Solution. APRA intends to finalize the design of the new Data Collection Solution this year and commence its implementation from late 2018. The roll-out and transition period is expected to start from late 2019. APRA also published an overview of the feedback received so far and continues to invite further feedback through a variety of avenues that will be available now and on an ongoing basis, as implementation takes place.
Based on stakeholder feedback calling for a system that is simpler, easier to use, and requires less manual entry, APRA requests further guidance and feedback to shape a solution that will adapt to future needs as reporting requirements, data analytics. and technology continue to evolve. The new solution is intended to be easier to use, without requiring software download and with an intuitive interface. It is expected to reduce ongoing maintenance and support costs, by enabling data uploads, so it is less dependent on manual data entry than D2A. It will also be web-based, which simplifies system maintenance. APRA intends to develop the new system fully based on Standard Business Reporting taxonomies. To shape the new Data Collection Solution, APRA want to know:
- What design features and functions in the new system would benefit an organization?
- What is involved in an organization’s processes for compiling data to submit to APRA?
- How challenging will an organization find it to switch from D2A attribute codes to SBR?
- How can APRA work with industry to lessen the burden of moving to the new system?
Related Links
Keywords: Asia Pacific, Australia, Reporting, D2A, Data Collection, APRA
Featured Experts

David Fihrer
Skilled life insurance actuary; subject matter expert on IFRS 17 and source of earnings

Eve Pastor
IFRS subject matter expert, accounting authority
Related Articles
News
APRA Publishes Proposal to Increase Transparency of Banking DataAPRA 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.
December 05, 2019
WebPage
Regulatory News
|
News
ESMA Consults on Guide to Internal Controls for Credit Rating AgenciesESMA launched a consultation on the guidelines on internal controls for credit rating agencies (CRAs).
December 05, 2019
WebPage
Regulatory News
|
News
EU Finalizes Directive and Prudential Rules for Investment FirmsEU published, in the Official Journal of the European Union, the Directive (2019/2034) and Regulation (2019/2033) on the prudential requirements and supervision of investment firms.
December 05, 2019
WebPage
Regulatory News
|
News
OSFI Revises Guideline on Principles for Management of Liquidity RiskOSFI finalized Guideline B-6 on the principles for the management of liquidity risk.
December 05, 2019
WebPage
Regulatory News
|
News
BoE, PRA, and FCA Consult to Strengthen Operational ResilienceBoE, PRA, and FCA published a shared policy summary and coordinated consultation papers on new requirements to strengthen operational resilience in the financial services sector.
December 05, 2019
WebPage
Regulatory News
|
News
PRA Consults on Framework to Manage Outsourcing and Third-Party RiskPRA published a consultation paper CP30/19 that sets out proposals to modernize the regulatory framework on outsourcing and third-party risk management.
December 05, 2019
WebPage
Regulatory News
|
News
EC Amends Rule on Mapping of External Credit Assessment InstitutionsEC published the implementing regulation (EU) 2019/2028, which amends Regulation 2016/1799, regarding the mapping tables specifying correspondence between the credit risk assessments of external credit assessment institutions (ECAIs) and the credit quality steps set out in the Capital Requirements Regulation.
December 04, 2019
WebPage
Regulatory News
|
News
EBA Issues Second Part of Advice on Implementation of Basel III in EUEBA published the second part of its advice on the implementation of Basel III in EU, which complements the report published on August 05, 2019.
December 04, 2019
WebPage
Regulatory News
|
News
EU Approves European Council Proposal on CCP Recovery and ResolutionEU ambassadors approved the position of European Council on a proposed framework for clearing houses and their authorities to prepare for and deal with financial difficulties.
December 04, 2019
WebPage
Regulatory News
|
News
OSFI Releases Guideline on Foreign Bank Branch Deposit RequirementsOSFI released the final version of Guideline A-10 on foreign bank branch deposit requirements, along with guideline impact analysis statement.
December 04, 2019
WebPage
Regulatory News
|