APRA commences consultation on standardised submission dates for ADI quarterly reporting
The Australian Prudential Regulation Authority (APRA) has commenced consultation on a proposed standardisation of quarterly reporting due dates for authorised deposit-taking institutions (ADIs).
The proposed standardised due date is 35 calendar days after the last day of the reference quarter, which will create a 14 calendar day extension for credit unions and building societies.
APRA's goal is to streamline the data consultation process for APRA and ADIs alike, with a resulting reduction in the reporting burden, most notably for smaller ADIs.
A letter informing ADIs of the proposed changes and inviting feedback is available at: https://www.apra.gov.au/consultation-on-proposed-changes-to-due-dates-of-quarterly-reporting-for-adis
The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.