Financial Sector (Collection of Data) (reporting standard) determination No. 38 of 2021
Reporting Standard ARS 745.0 ABS/RBA Personal Finance
Financial Sector (Collection of Data) Act 2001
I, Alison Bliss, 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. 14 of 2019, including Reporting Standard ARS 745.0 ABS/RBA Personal Finance made under that Determination; and
(b) determine Reporting Standard ARS 745.0 ABS/RBA Personal Finance, in the form set out in the Schedule, which applies to the financial sector entities to the extent provided in paragraph 4 of the reporting standard.
Under section 15 of the Act, I declare that the reporting standard shall begin to apply to those financial sector entities, and the revoked reporting standard shall cease to apply, on the day it is registered on the Federal Register of Legislation.
This instrument commences upon registration on the Federal Register of Legislation.
Dated: 30 July 2021
[Signed]
Alison Bliss
General Manager
Data Analytics & Insights Division
Interpretation
In this Determination:
APRA means the Australian Prudential Regulation Authority.
financial sector entity has the meaning given by section 5 of the Act.
Schedule
Reporting Standard ARS 745.0 ABS/RBA Personal Finance comprises the document commencing on the following page.
Reporting Standard ARS 745.0
ABS/RBA Personal Finance
Objective of this Reporting Standard
This Reporting Standard outlines the requirements for the provision of information to APRA relating to an authorised deposit-taking institution’s or registered financial corporation’s provision of personal finance to households.
It includes Reporting Form ARF 745.0 ABS/RBA Personal Finance and the associated specific instructions.
Authority
- This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.
Purpose
2. Information collected by Reporting Form ARF 745.0 ABS/RBA Personal Finance (ARF 745.0) is used by the ABS and RBA for various purposes, including statistical publications. This information may also be used by APRA for prudential and publication purposes.
3. This Reporting Standard is an Economic and Financial Statistics (EFS) Reporting Standard for the purposes of Reporting Standard ARS 701.0 ABS/RBA Definitions for the EFS Collection (ARS 701.0).
Application and commencement
4. This Reporting Standard applies to an authorised deposit-taking institution (ADI) or registered financial corporation (RFC) as set out in the table below, where ‘personal credit’ is measured by the value reported in item 1.1.1.1.2 (column 1) on Reporting Form ARF 720.1A/B ABS/RBA Loans and Finance Leases (Standard)/(Reduced) (ARF 720.1A/B).
Class of financial institution | Applicable |
ADIs | Yes if personal credit ≥ $500 million |
RFCs | Yes if personal credit ≥ $500 million |
5. APRA may from time to time determine that a higher threshold will apply to a particular ADI or RFC than that specified in paragraph 4 of this Reporting Standard and if APRA does so it will notify the ADI or RFC concerned in writing.
6. This Reporting Standard applies for reporting periods ending on or after 30 September 2021.
Information required
7. An ADI or RFC to which this Reporting Standard applies must provide APRA with the information required by this Reporting Standard for each reporting period on a domestic books consolidation.
Method of submission
8. The information required by this Reporting Standard must be given to APRA in electronic format, using the ‘Direct to APRA’ application or by a method (i.e. a web-based solution) notified by APRA, in writing, prior to submission.
Note: the Direct to APRA application software (also known as D2A) may be obtained from APRA.
Reporting periods and due dates
9. The information required by this Reporting Standard must be provided in respect of each calendar month by an ADI or RFC to which this Reporting Standard applies under paragraphs 4 or 5.
10. The information required by this Reporting Standard must be provided to APRA within 10 business days after the end of the reporting period to which the information relates.
11. APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular ADI or RFC, to require it to provide the information required by this Reporting Standard more frequently, or less frequently, having regard to:
(a) the particular circumstances of the ADI or RFC; and
(b) the extent to which the information is required for the purposes of the ABS or RBA.
12. APRA may grant an ADI or RFC an extension of a due date, in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.
Quality control
13. All information provided by an ADI or RFC under this Reporting Standard must be the product of systems, processes and controls that have been reviewed and tested by the external auditor of the ADI or RFC as set out in Prudential Standard APS 310 Audit and Related Matters for ADIs or Reporting Standard RRS 710.0 ABS/RBA Audit Requirements for Registered Financial Corporations for RFCs. Relevant standards and guidance statements issued by the Auditing and Assurance Standards Board provide information on the scope and nature of the review and testing required from external auditors. This review and testing must be done on an annual basis or more frequently if required by the external auditor to enable the external auditor to form an opinion on the accuracy and reliability of the information provided by an ADI or RFC under this Reporting Standard.
14. All information provided by an ADI or RFC under this Reporting Standard must be subject to systems, processes and controls developed by the ADI or RFC for the internal review and authorisation of that information. These systems, processes and controls are to assure the completeness and reliability of the information provided.
Authorisation
15. When an officer or agent of an ADI or RFC submits information under this Reporting Standard and uses the D2A application, or other method notified by APRA, it will be necessary for the officer or agent to digitally sign the relevant information using a digital certificate or other digital identity credential acceptable to APRA.
Interpretation
16. Terms that are defined in ARS 701.0 appear in bold and italics in this Reporting Standard.
17. In this Reporting Standard:
due date means the last day of the 10 business days provided for in paragraph 10 or, if applicable, the date on a notice of extension given under paragraph 12.
reporting period means a month of a year as provided for in paragraph 9 or, if applicable, the date on a notice given under paragraph 11.
18. Unless the contrary intention appears, any reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force or existing from time to time.
ARF_745_0: ABS/RBA Personal Finance |
Australian Business Number | Institution Name |
| |
Reporting Period | Scale Factor |
Monthly | |
Reporting Consolidation | |
Domestic | |
- New borrower-accepted commitments for fixed-term personal loans and finance leases - by purpose
|
| Fixed-term loans | Finance leases |
| (1) | (2) |
1.1. New borrower-accepted commitments for personal finance to residents (including increases to previously committed credit limits) | | |
1.1.1. Purchase of road vehicles | | |
1.1.2. Purchase of other transport vehicles and equipment | | |
1.1.3. Purchase of household and personal goods | | |
1.1.4. Travel and holidays | | |
1.1.5. Investment (excluding housing) | | |
1.1.6. External refinance | | |
1.1.7. Internal refinance | | |
1.1.8. Other | | |
1.2. New borrower-accepted commitments for personal finance to non-residents | | |
2. Borrower-accepted commitments for credit cards, margin lending and other revolving credit |
| Credit cards | Margin lending | Other revolving credit |
| (1) | (2) | (3) |
2.1. New borrower-accepted commitments to residents during month | | | |
2.1.1. of which: Secured by residential property | | | |
2.2. Cancellations of and reductions in residents' previously committed (and accepted) credit limits during month | | | |
2.3. Total credit limits available to residents (including credit outstanding) as at the end of the month | | | |
2.3.1. of which: Secured by residential property | | | |
2.4. Total credit limits available to non-residents (including credit outstanding) as at the end of the month | | | |
2.4.1. of which: Credit outstanding as at the end of the month | | | |
2.4.2. of which: Secured by residential property | | | |
Reporting Form ARF 745.0
ABS/RBA Personal Finance
Instructions
These instructions assist completion of Reporting Form ARF 745.0 ABS/RBA Personal Finance (ARF 745.0). ARF 745.0 collects information relating to the provision of finance to households for personal purposes by ADIs and RFCs.
Information reported in ARF 745.0 is required primarily for purposes of the ABS and the RBA. This information is required for various purposes, including policy and statistical purposes. Published aggregate statistics from this collection are used for research and policy formulation by a range of interested parties, including economists, State and Federal Governments, and the private sector. Information reported in ARF 745.0 may also be used by APRA for prudential and publication purposes.
Reporting level
ARF 745.0 must be completed by each ADI and RFC to which this Reporting Standard applies under paragraphs 4 or 5.
Reporting basis and unit of measurement
These instructions specify the reporting basis and unit of measurement that applies to each item.
For reporting purposes, unless specified otherwise, enter data as a positive number.
Counterparties
For the purposes of this form, report only finance to households for personal purposes.
For the purposes of this form, households may exist in either the resident or non-resident sectors.
Positions with resident and non-resident households are collected separately.
Types of finance
For the purposes of this form, finance includes:
- loans; and
- finance leases.
When reporting borrower-accepter commitments, report only that finance where the legal lender on the contract is an entity included in the domestic books consolidation of the ADI or RFC.
When reporting information on the stock of outstanding finance (e.g. credit outstanding), only include finance that is held on-balance sheet, unless otherwise directed.
Reporting by purpose
Classify finance at the lowest level at which it is able to be identified; the purpose that the funds will be used for determines whether (and where) it is reported on this form. Where finance (identified at the lowest available level) is to be used for more than one purpose, classify that finance to its predominant purpose (based on the purpose for which the largest share of the funds will be used).
Values
Unless otherwise specifically stated, information reported on this form must comply with Australian Accounting Standards.
Report monetary amounts on ARF 745.0 in Australian dollars or the Australian dollar equivalent of the foreign currency. Convert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates.
Report values on ARF 745.0 as whole dollars.
Standard Business Reporting (SBR)
The accounting type (i.e. credit or debit) is stated for all monetary items and represents the natural accounting balance of the item collected.
Specific instructions
Terms highlighted in bold italics are defined in ARS 701.0.
All derived fields in the form are shaded in grey and are explained in words as a mathematical expression in these instructions.
Examples included under ‘Include’ and ‘Exclude’ must not be taken as an exhaustive list of items to be included or excluded.
- New borrower-accepted commitments for fixed-term personal loans and leasing – by purpose
Item 1 collects information on the value of new borrower-accepted commitments for fixed-term loans and finance leases to households for personal purposes during the reporting period, by purpose sub-class.
Borrower-accepted commitments include agreements to increase the credit limit of an existing loan contract (for example, as part of an internal refinance). For a borrower-accepted commitment, the credit limit is the maximum amount of funds that will be made available to the borrower without additional authorisation or approval. This includes outstanding balances (including capitalised interest or fees) and any other funds that can be drawn without additional approval by the lender in this amount.
Reporting basis: report item 1 as during the reporting period.
SBR: submit item 1 with accounting type of debit (assets).
Include only fixed-term loans and finance leases in this item. Exclude revolving credit facilities. Report these in item 2.
Column 1 | Report the value for fixed-term loans for personal purposes. |
Column 2 | Report the value for finance leases for personal purposes. |
Item 1.1 | Report new borrower-accepted commitments to resident households for personal purposes. |
Item 1.1.1 | Report new borrower-accepted commitments to resident households for the purchase of road vehicles. |
Item 1.1.2 | Report new borrower-accepted commitments to resident households for the purchase of other transport vehicles & equipment. |
Item 1.1.3 | Report new borrower-accepted commitments to resident households for the purchase of household and personal goods. |
Item 1.1.4 | Report new borrower-accepted commitments to resident households for the purpose of travel and holidays. |
Item 1.1.5 | Report new borrower-accepted commitments to resident households for the purpose of personal investment (excluding housing for the purposes of investment). Include borrower-accepted commitments for the purchase of shares and other investment assets other than margin loans. |
Item 1.1.6 | Report new borrower-accepted commitments to resident households for the purpose of external refinance. |
Item 1.1.7 | Report new borrower-accepted commitments to resident households for the purpose of internal refinance. |
Item 1.1.8 | Report new borrower-accepted commitments for finance to resident households for any other personal purpose other than those already reported in items 1.1.1 to 1.1.7. Item 1.1.8 is a derived item. Report the value of new borrower-accepted commitments for finance to resident households for any other personal purpose other than those already reported for each column in item 1.1.8 as: item 1.1 less the sum of: items 1.1.1 to 1.1.7 inclusive. |
Item 1.2 | Report new borrower-accepted commitments for finance to non-residents for personal purposes. |
2. Borrower–accepted commitments for credit cards, margin lending and other revolving credit
Item 2 collects information on the value of new borrower-accepted commitments, cancellations of existing borrower-accepted commitments and total credit limits for credit cards, margin lending and any other revolving credit facilities to households for personal purposes.
Borrower-accepted commitments include agreements to increase the credit limit of an existing loan contract (for example, as part of an internal refinance). For a borrower-accepted commitment, the credit limit is the maximum amount of funds that will be made available to the borrower without additional authorisation or approval. This includes outstanding balances (including capitalised interest or fees) and any other funds that can be drawn without additional approval by the lender in this amount.
Reporting basis: report item 2 as at the end of the reporting period or during the reporting period as directed.
Include credit cards, margin lending and any other revolving credit facilities in this item. Exclude fixed-term loans and finance leases. Report these in item 1.
Report credit limits and credit outstanding in the category in which they sit as at the end of the reporting period.
Exclude facilities that have been written off.
Column 1 | Report the value for credit cards. |
Column 2 | Report the value for margin lending. |
Column 3 | Report the value for revolving credit facilities other than credit cards and margin lending. |
Item 2.1 | Report new credit limits committed to and accepted by resident households for personal purposes during the reporting period. Include the value of credit limits for new borrower-accepted commitments for the purpose of internal refinance and external refinance. SBR: submit item 2.1 with accounting type of debit (assets). |
Item 2.1.1 | Of the amount reported in item 2.1, report the value secured by residential property. Do not report columns 1 and 2 for item 2.1.1. SBR: submit item 2.1.1 with accounting type of debit (assets). |
Item 2.2 | Report any cancellations of and reductions in resident households’ previously committed credit limits during the reporting period. Include the value of credit limits cancelled during the reporting period due to an internal refinance or external refinance. Exclude repayments that reduce the used portion of the credit facility, but not the total credit available. Do not report column 2 for item 2.2. SBR: submit item 2.2 with accounting type of credit (negative assets). |
Item 2.3 | Report total credit limits available to resident households (including credit outstanding) as at the end of the reporting period. SBR: submit item 2.3 with accounting type of debit (assets). |
Item 2.3.1 | Of the amount reported in item 2.3, report the value secured by residential property. Do not report columns 1 and 2 for item 2.3.1. SBR: submit item 2.3.1 with accounting type of debit (assets). |
Item 2.4 | Report the total credit limits available to non-resident households (including credit outstanding) as at the end of the reporting period. SBR: submit item 2.4 with accounting type of debit (assets). |
Item 2.4.1 | Of the amount reported in item 2.4, report the value of credit outstanding as at the end of the reporting period. SBR: submit item 2.4.1 with accounting type of debit (assets). |
Item 2.4.2 | Of the amount reported in item 2.4, report the value secured by residential property. Do not report columns 1 and 2 for item 2.4.2. SBR: submit item 2.4.2 with accounting type of debit (assets). |