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Financial Sector (Collection of Data) (reporting standard) determination No. 9 of 2019

Reporting Standard ARS 720.7 ABS/RBA Bill Acceptances and Endorsements

Financial Sector (Collection of Data) Act 2001

I, Alison Bliss, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) DETERMINE Reporting Standard ARS 720.7 ABS/RBA Bill Acceptances and Endorsements, in the form set out in the Schedule, which applies to the financial sector entities to the extent provided in paragraph 4 of the reporting standard.

Under section 15 of the Act, I DECLARE that the reporting standard shall begin to apply to those financial sector entities on 8 February 2019.

This instrument commences on 8 February 2019.

Dated: 1 February 2019

Alison Bliss
General Manager
Data Analytics Division

Interpretation

      In this Determination:

APRA means the Australian Prudential Regulation Authority.

    financial sector entity has the meaning given by section 5 of the Act.

Schedule

Reporting Standard ARS 720.7 ABS/RBA Bill Acceptances and Endorsements comprises the document commencing on the following page.

Reporting Standard ARS 720.7

ABS/RBA Bill Acceptances and Endorsements

Objective of this Reporting Standard

This Reporting Standard outlines the requirements for the provision of information to APRA relating to an authorised deposit-taking institution's or registered financial corporation's bill acceptances and endorsements.

It includes Reporting Form ARF 720.7 ABS/RBA Bill Acceptances and Endorsements and the associated specific instructions.

Authority

     1. This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.

Purpose

    2.             Information collected by Reporting Form ARF 720.7 ABS/RBA Bill Acceptances and Endorsements (ARF 720.7) is used by the ABS and RBA for various purposes, including the compilation of Australia's National Accounts and the calculation of the monetary and credit aggregates. This information may also be used by APRA for prudential and publication purposes.

    3.             This Reporting Standard is an Economic and Financial Statistics (EFS) Reporting Standard for the purposes of Reporting Standard ARS 701.0 ABS/RBA Definitions for the EFS Collection (ARS 701.0).

Application and commencement

    4.             This Reporting Standard applies to an authorised deposit-taking institution (ADI) or registered financial corporation (RFC) as set out in the table below, where 'total assets' are measured by the value reported in item 13 (column 1) on Reporting Form ARF 720.0A ABS/RBA Statement of Financial Position (Standard) (ARF 720.0A).

Class of financial institution  Applicable

ADI Reporting Category A        No

ADI Reporting Category B        Yes

RFCs                            Yes if total assets ≥ $500m

    5.             APRA may from time to time determine that a threshold, or a higher threshold than that specified in paragraph 4 of this Reporting Standard, will apply to a particular ADI or RFC. If APRA does so it will notify the ADI or RFC concerned in