Document ID: chunk:federal_register_of_legislation:F2024L00434:body:0:p1
Version: federal_register_of_legislation:F2024L00434
Segment Type: other
Provision Reference: 
Character Range: 0–3175

Financial Sector (Collection of Data) (reporting standard) determination No. 5 of 2024

Reporting Standard ARS 701.0 ABS/RBA Definitions for the EFS Collection

Financial Sector (Collection of Data) Act 2001

I, Andrew Robertson, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) and subsection 33(3) of the Acts Interpretation Act 1901:

    (a)          revoke Financial Sector (Collection of Data) (reporting standard) determination No. 8 of 2022, including Reporting Standard ARS 701.0 ABS/RBA Definitions for the EFS Collection made under that Determination; and

    (b)          determine Reporting Standard ARS 701.0 ABS/RBA Definitions for the EFS Collection, in the form set out in the Schedule, which applies to the financial sector entities to the extent provided in paragraph 2 of that reporting standard.

Under section 15 of the Act, I declare that Reporting Standard ARS 701.0 ABS/RBA Definitions for the EFS Collection shall begin to apply to those financial sector entities, and the revoked reporting standard shall cease to apply, at the start of the day after Reporting Standard ARS 701.0 ABS/RBA Definitions for the EFS Collection is registered on the Federal Register of Legislation.

This instrument commences at the start of the day after the day the instrument is registered on the Federal Register of Legislation.

Dated: 5 April 2024

Andrew Robertson
General Manager - Chief Data Officer
Technology and Data Division

Interpretation

In this Determination:

APRA means the Australian Prudential Regulation Authority.

Federal Register of Legislation means the register established under section 15A of the Legislation Act 2003.

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

Schedule

Reporting Standard ARS 701.0 ABS/RBA Definitions for the EFS Collection comprises the document commencing on the following page.

Reporting Standard ARS 701.0

ABS/RBA Definitions for the EFS Collection

Objective of this Reporting Standard

This Reporting Standard defines key terms referred to in other reporting standards applicable to authorised deposit-taking institutions (ADIs) and registered financial corporations (RFCs), where these reporting standards form part of the Economics and Financial Statistics (EFS) Collection. All EFS reporting standards applicable to ADIs and RFCs must be read in conjunction with this Reporting Standard.

Authority

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

Application and commencement

    2.             This Reporting Standard applies in relation to the Economics and Financial Statistics (EFS) collection to all entities which submit data to APRA under the EFS reporting standards.

    3.             Unless the contrary intention appears, definitions in this Reporting Standard apply to all EFS reporting standards.

    4.             This Reporting Standard applies for reporting periods ending on or after 30 June 2024.

General

    5.             Terms defined in this Reporting Standard appear in bold italics.

Transition