APRA consults on updates to modernised Economic and Financial Statistics reporting standards and guidance
The Australian Prudential Regulation Authority (APRA) has released a consultation on its proposed changes to the Economic and Financial Statistics (EFS) reporting standards and guidance, drafted in conjunction with the Australian Bureau of Statistics (ABS) and the Reserve Bank of Australia (RBA).
In a letter released today, APRA, the ABS and the RBA propose to amend some inconsistencies found in Reporting Practice Guide RPG 701.0 ABS/RBA Reporting Concepts for the EFS Collection and Reporting Standard ARS 701.0 - ABS/RBA Definitions for the EFS Collection to align with the updated capital framework released in 2021. APRA, the ABS and the RBA are also consulting on changes to the EFS Priority Listing for Data Items.
Submissions should be sent to APRA by 6 November 2023.
The letter to ADIs, the clean and marked-up versions of the reporting standard and guidance, and other related consultation documents are available on the APRA website at: Latest updates to the modernised Economic and Financial Statistics reporting standards and guidance.
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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.