Document ID: chunk:federal_register_of_legislation:F2022L00214:body:0:p2
Version: federal_register_of_legislation:F2022L00214
Segment Type: other
Provision Reference: 
Character Range: 2919–5850

3) on Reporting Form ARF 720.1A/B ABS/RBA Loans and Finance Leases (Standard)/(Reduced) (ARF 720.1A/B).

Class of financial institution  Applicable

ADIs                            Yes if total housing credit ≥ $3 billion.

RFCs                            Yes if total housing credit ≥ $3 billion.

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

    6.             This Reporting Standard applies for reporting periods ending on or after 31 March 2022.

Information required

    7.             An ADI or RFC to which this Reporting Standard applies must provide APRA with the information required by this Reporting Standard for each reporting period on a domestic books consolidation.

Method of submission

    8.             The information required by this Reporting Standard must be given to APRA in electronic format using an electronic method available on APRA's website or by a method notified by APRA prior to submission.

Reporting periods and due dates

    9.             The information required by this Reporting Standard must be provided in respect of each calendar month by an ADI or RFC to which this Reporting Standard applies under paragraphs 4 or 5.

    10.         The information required by this Reporting Standard must be provided to APRA within 10 business days after the end of the reporting period to which the information relates.

    11.         APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular ADI or RFC, to require it to provide the information required by this Reporting Standard more frequently, or less frequently, having regard to:

       (a)          the particular circumstances of the ADI or RFC; and

       (b)          the extent to which the information is required for the purposes of the ABS or RBA.

    12.         APRA may grant an ADI or RFC an extension of a due date, in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.

Quality control

    13.         All information provided by an ADI or RFC under this Reporting Standard must be the product of systems, processes and controls that have been reviewed and tested by the external auditor of the ADI or RFC as set out in Prudential Standard APS 310 Audit and Related Matters for ADIs or Reporting Standard RRS 710.0 ABS/RBA Audit Requirements for Registered Financial Corporations for RFCs. Relevant standards and guidance statements issued by the Auditing and Assurance Standards Board provide information on the scope and nature of the review and testing required from external auditors. This review and testing must be done on an annual basis or more frequently