Document ID: chunk:federal_register_of_legislation:F2023L01225:body:0:p5
Version: federal_register_of_legislation:F2023L01225
Segment Type: other
Provision Reference: 
Character Range: 11481–14532

with approved forms within the time periods specified in this Prudential Standard; and

       (b)          be able to generate reports on behalf of APRA in accordance with the approved forms, and be able to transmit those reports to APRA, and to any person nominated by APRA, in sufficient time to enable APRA to comply with its obligations to issue reports to account-holders and the Australian Taxation Office (ATO) under the Banking Act.

    21.         An ADI's systems must be able to be updated to reflect account-holder balances, taking account of amounts that are paid for FCS purposes, to enable an account-holder to be provided with information on the balance in each protected account they hold, including transaction details related to FCS payments made.

Time for generating and transmitting reports to APRA

    22.         An ADI must be able to generate and transmit reports referred to in paragraph 20(a) of this Prudential Standard to APRA, or a person nominated by APRA, as follows:

       (a)          the SCV summary report - at the same time as the SCV;

       (b)          the EFT and cheque payments and summary reports - at the same time as the payment instruction information;

       (c)          the exception and summary report - at the same time as the EFT and cheque payments reports;

       (d)          the prescribed accounts and summary report - within 48 hours following the provision of the EFT and cheque payments reports; and

       (e)          any other report specified by APRA in an approved form - within the period specified by APRA.

Communications
    23.         An ADI must be able to communicate with account-holders and other customers in the event that it becomes a declared ADI by way of the communication channels maintained by the ADI including, where applicable, the ADI's website, electronic banking facilities and call centre. Communications for this purpose include:

       (a)          conveying FCS-related information as specified by APRA;

       (b)          responding to FCS-related enquiries from account-holders and other customers; and

       (c)          recording information from an account-holder relevant to the preparation of the SCV and payment instruction information for FCS payments.

    24.         An ADI must maintain communication channels that are adequate to respond effectively, and in a timely manner, to the volumes of account-holder and other customer enquiries that may reasonably be expected in the event that the ADI becomes a declared ADI.[2] At a minimum, an ADI must maintain an existing website to convey FCS-related information specified by APRA from time to time, and must maintain the capability to respond to account-holder and customer queries by telephone and internet.

Testing
    25.         An ADI must regularly review and test[3] its ability to:

       (a)          generate SCV data as required by this Prudential Standard;

       (b)          capture alternative ADI account data for an existing electronic banking