The prudential regulator has advised of changes to its underlying data collection in reporting its monthly banking statistics.
In a letter addressed to all authorised deposit-taking institutions, APRA said that, from March 2019, the data for its Monthly Banking Statistics (MBS) will be collected using the new Economic and Financial Statistics (EFS) collection, under section 13 of the Financial Sector (Collection of Data) Act 2001 (FSCODA).
It said it’s determining new data sources that will need to be determined non-confidential to facilitate the continuing publication of MBS.
APRA said it’s proposing to determine corresponding data collected under four EFS reporting standards to be non-confidential.
As a result, the determination includes data reported by ADIs in the following forms:
APRA also said it’s proposing to extend the coverage of MBS to credit unions and building societies but not to registered financial corporation.
Further, APRA plans to undertake a more holistic review of the scope of data items published for the ADI industry and intends to consult further in the second half of 2019.
Adrian Flores is a features editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.
You can contact him on [email protected]
Prime Minister Scott Morrison warned that next week’s budget would remain vulnerable to the global economic situation but was reluctant to...
Moody’s Investors Service has downgraded its ratings for AMP Group and its banking arm, citing dampened operating results, reputational da...
The cuts to dividends in the reporting season as 70 per cent of ASX-listed companies shrunk or axed their payouts have shown that generating...
Subscribe to our newsletter
Copyright © 2020 Investor Daily
Get notifications in real-time for staying up to date with content that matters to you.
Read More