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On 29 January 2024, APRA released a response to consultation on its proposed updates to the Economic and Financial Statistics (EFS) reporting standards and guidance.
The changes consulted on were drafted in conjunction with the Australian Bureau of Statistics (ABS) and the Reserve Bank of Australia (RBA).
The consultation letter, the clean and marked up versions of the reporting standard and guidance, and updated EFS Data Priority Listing can be found below:
Letter
Reporting standard
Reporting practice guide
Priority listing for data items
Non-confidential submissions
Previous updates
On 27 September 2023, APRA released for consultation its proposed updates to the EFS reporting standards and guidance.
The changes consulted on were drafted in conjunction with the ABS and the RBA.
Submissions should be sent by 6 November 2023.
The consultation letter, updated standard and guidance, and draft summary of the changes to the EFS Data Priority Listing can be found below:
Letter
Propose changes to modernised Economic and Financial Statistics reporting standards and guidance
Reporting standard
Reporting practice guide
Draft summary of changes
Priority listing for data items
About this consultation
Modernised economic and financial statistics
APRA requests feedback from interested stakeholders on proposed updates to the modernised Economic and Financial Statistics (EFS) data collection reporting standards and guidance.
The Economic and Financial Statistics (EFS) collection – previously informally known as the Domestic Books collection – will be administered on behalf of the ABS and the RBA by APRA in its role as national statistical agency for the financial sector. It consists of data collected from authorised-deposit-taking institutions (including banks, building societies and credit unions) and registered financial corporations. The data collected will be used to compile key macroeconomic indicators for Australia, for analysis and policy purposes by economic policy makers, and to meet Australia’s international reporting obligations. This has been a large scale and complex project, involving considerable collaboration between the three agencies and the industry.
The new collection will be implemented in a phased approach, with the first phase commencing in March 2019. APRA, the ABS and the RBA will be publishing data from the new collection during 2019. More information on changes to individual agencies’ publications will be published on the relevant agency’s website.
For more information read the EFS frequently asked questions.
Recent updates:
- Proposed changes to Modernised Economic and Financial Statistics (EFS) reporting standards and guidance - On 25 August APRA requested feedback from interested stakeholders on proposed updates to the modernised Economic and Financial Statistics (EFS) data collection reporting standards and guidance. APRA responded on 29 January.
- Consultation on proposed ARS 722.0 ABS/RBA Derivatives Data Collection - On 18 November, following a consultation period, APRA released a response to submissions on draft Reporting Standard ARS 722.0 ABS/RBA Derivatives.
- Consultation on proposed changes to reporting and prudential standards resulting from modernised economic and financial statistics data collection implementation - On 19 June 2019, APRA released a response letter on consequential amendments to a number of authorised deposit-taking institution (ADI) prudential and reporting standards resulting from the implementation of the modernised Economic and Financial Statistics (EFS) data collection and introduction of the new Accounting Standard AASB 9 Financial Instruments (AASB 9).
Consultations
Note on submissions
It is APRA's policy to publish all submissions on the APRA website unless the respondent specifically tells APRA in writing that all or part of the submission is to remain confidential. An automatically generated confidentiality statement in an email does not satisfy this purpose. If you would like only part of your submission to be confidential, you should provide this information marked as 'confidential' in a separate attachment.
Submissions may be the subject of a request for access made under the Freedom of Information Act 1982 (FOIA). APRA will determine such requests, if any, in accordance with the provisions of the FOIA. Information in the submission about any APRA-regulated entity that is not in the public domain and that is identified as confidential will be protected by section 56 of the Australian Prudential Regulation Authority Act 1998 and will therefore be exempt from production under the FOIA.