Document ID: chunk:federal_register_of_legislation:F2023L01225:body:0:p14
Version: federal_register_of_legislation:F2023L01225
Segment Type: other
Provision Reference: 
Character Range: 39978–43158

more AusPayNet payment systems while participating indirectly in others, the treatment of customer accounts may vary by payment instrument.

Attachment C

This Attachment sets out the principles that an ADI must use in its calculations to meet its payment and reporting information requirements.

Account-holder FCS balance and payment details
     1. An ADI must be able to calculate the FCS balance for each account-holder to the nearest cent.

     2. An ADI must provide to the RBA, or APRA's paying agent, information specified in the file specifications in the approved form. This will include calculations, alternative ADI account data, and information generated by ADI systems such as record codes and reference information, for example, the name of the declared ADI and unique reference numbers which are required to generate the payment instruction information.

     3. EFT and cheque payment instruction information must have a date no later than the timeframes specified in paragraph 18 of this Prudential Standard, as calculated from the date of the generation of SCV.

Account priority
    4.             An ADI must be able to identify for every protected account:

       (a)          the account category as either non-prescribed or prescribed as defined under the Regulations; and

       (b)          the account status as either non-exception or exception, where an exception status indicates that a payment cannot be made at the time of generating and transmitting the payment instruction information specified in paragraph 18.

    5.             An ADI, must give priority for payment and reporting up to the FCS limit to each account-holder's accounts in the following order:

       (a)          non-prescribed, non-exception accounts; then

       (b)          non-prescribed, exception accounts; then

       (c)          prescribed, non-exception accounts; then

       (d)          prescribed, exception accounts,

    with any portion of the aggregated balance over the FCS limit to be identified. Within each category, accounts are to be treated equally.

Apportionment when the aggregate account-holder entitlement is above the FCS limit
    6.             When the account-holder's aggregate entitlement is above the FCS limit, apportionment of the components is as follows:

       (a)          the account balance principal and accrued interest components are apportioned on a pro rata basis; and

       (b)          withholding tax calculated on the portion of the accrued interest below the FCS limit is deducted from the payment to the account-holder.

ADI summary account-holder and payment data
    7.             An ADI's SCV and other systems must be able to generate summary account-holder entitlement and FCS balance and payment data aggregated by value and volume for use by APRA. An ADI may include any additional information it considers relevant for this purpose.

    [1]  Consequently, when a requirement falls due on a non-business day, it must be done by that day, not the next occurring business day.
    [2]  Refer to Prudential Standard CPS 232 Business Continuity Management (CPS 232).
    [3]  Refer