APRA releases response to submissions on proposed Reporting Standard ARS 722.0 Derivatives
The Australian Prudential Regulation Authority (APRA) has released its response to submissions on the proposed modernised Economic and Financial Statistics (EFS) Reporting Standard ARS 722.0 Derivatives (ARS 722.0).
ARS 722.0 will be used to collect quarterly data on the derivatives activity of authorised deposit-taking institutions (ADIs) and registered financial corporations (RFCs).
APRA’s new approach to ARS 722.0 will provide greater certainty about reporting obligations and will reduce the reporting burden for most financial sector entities.
The response letter, and the clean and marked-up versions of the reporting standard and reporting practice guide are available on the APRA website at: Modernised economic and financial statistics.
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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.