Media release

APRA releases consultation on further updates to Reporting Standard ARS 720.1 ABS/RBA Loans and Finance Leases

Superannuation
Published
11 August 2021
Print

The Australian Prudential Regulation Authority (APRA) has released a consultation on its proposed changes to Reporting Standard ARS 720.1 ABS/RBA Loans and Finance Leases (ARS 720.1).

In a letter to industry published today, APRA, the Australian Bureau of Statistics and the Reserve Bank of Australia propose to amend ARS 720.1 to accurately align with the latest version of Prudential Standard APS 220 Credit Risk Management (APS 220) released in December 2019.

ARS 720.1 currently collects data on impaired exposures, which will no longer be used in APS 220. As such, APRA and the agencies propose to replace this item with the collection of data on non-performing exposures. 

This reporting standard is part of the modernised Economic and Financial Statistics data collection which replaced the domestic books collection submitted by authorised deposit-taking institutions and registered financial corporations. 

The consultation letter and the draft ARS 720.1 can be found on the APRA website at: Proposed changes to modernised Economic and Financial Statistics (EFS) reporting standards and guidance.

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Contact APRA Media Unit, on +61 2 9210 3636

All other enquiries

For more information contact APRA on 1300 558 849.

 

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9.8 trillion in assets for Australian depositors, policyholders and superannuation fund members. 

Footnotes