APRA announced that it is resuming consultation on the confidentiality of data submitted to APRA by the authorized deposit-taking institutions. To this end, APRA has published a consultation letter proposing a list of key data items to be determined non-confidential and is inviting stakeholder feedback on the consultation by November 20, 2020. APRA intends to publish entity-level data in 2021, with the exception of data on certificates of deposit.
Earlier, APRA had published, on December 05, 2019, a letter advising that it was proposing to determine data sources for its authorized deposit-taking institution quarterly publications to be non-confidential and to provide an opportunity to the institutions to make submissions on these proposals. However, this consultation had been paused in response to the challenges posed by the COVID-19 outbreak. The December proposal outlined plans to determine that certain data collected for quarterly authorized deposit-taking institution publications should be considered non-confidential, thus allowing it to be published. A common theme in the industry submissions, by authorized deposit-taking institutions, to the December consultation was to break up and slow down the proposed publication of authorized deposit-taking institution data into more manageable stages. In response to this, APRA is now re-consulting on a much shorter list of key authorized deposit-taking institution metrics, sourced almost entirely from the Quarterly Authorized Deposit-taking Institution Performance Statistics (QADIP). The key authorized deposit-taking institution metrics subject to this consultation relate to capital adequacy, liquidity, asset quality, financial statements, and financial performance.
APRA also intends to use this publication as a foundation to reduce the burden of disclosure requirements for smaller authorized deposit-taking institutions. As has been consulted on previously, APRA is proposing to reduce the Pillar 3 disclosure burden for smaller institutions. Publication of these key metrics by APRA would be an enabler of this initiative. This proposal, which is outlined in Attachment 1 to the APRA letter, is a major step in improving the transparency of the risk profiles of authorized deposit-taking institutions while Attachment 2 to the letter contains a table of key authorized deposit-taking institution metrics. Publication of these data will assist in providing the public with a centralized and consistent data source on individual institutions.
Comment Due Date: November 20, 2020
Keywords: Asia Pacific, Australia, Banking, Securities, Reporting, Disclosures, QADIP, EFS, Statistics, Regulatory Capital, Liquidity, APRA
Previous ArticlePRA Proposes to Amend SS11/13 on Internal Ratings-Based Approaches
In a letter addressed to the industry, the Australian Prudential Regulation Authority (APRA) set out an updated schedule of policy priorities for the banking, insurance, and superannuation industries.
The European Commission (EC) adopted a comprehensive review package of Solvency II rules in the European Union.
The Office of the Comptroller of the Currency (OCC) issued Versions 1.0 of the "Earnings" and "Regulatory Reporting" booklets of the Comptroller's Handbook.
The European Central Bank (ECB) published results of its economy-wide climate stress test, which aimed to assess the resilience of non-financial corporates and euro area banks to climate risks.
The European Banking Authority (EBA) published a report on the use of digital platforms in the banking and payments sector in European Union.
The Hong Kong Monetary Authority (HKMA) published updates on the policy measures that were announced in context of the ongoing pandemic.
The International Swaps and Derivatives Association (ISDA), along with several other associations, submitted a joint response to the Basel Committee on Banking Supervision (BCBS) consultation on preliminary proposals for the prudential treatment of cryptoasset exposures.
BIS published the September issue of the Quarterly Review, which contains special features that analyze the rapid rise in equity funding for financial technology firms, the effectiveness of policy measures in response to pandemic, and the evolution of international banking.
The Basel Committee for Banking Supervision (BCBS) met in September 2021 and reviewed climate-related financial risks, discussed impact of digitalization, and welcomed efforts by the International Financial Reporting Standards (IFRS) Foundation to develop a common set of sustainability reporting standards
The Office of the Comptroller of the Currency (OCC) issued a Cease and Desist Order against MUFG Union Bank for deficiencies in technology and operational risk governance.