Administer the Financial Claims Scheme
The Financial Claims Scheme (FCS) is an Australian Government initiative that protects depositors of authorised deposit-taking institutions (banks, building societies and credit untions) and policyholders of general insurance companies from potential loss due to the failure of these institutions. If the FCS is activated by the Australian Government, APRA will be responsible for administering it.
Prudential and Reporting standards
Prudential Standard APS 910 Financial Claims Scheme and related documents, including a reporting standard and approved forms for payments and reports are available under standards and guidance for authorised deposit taking institutions. Locally incorporated authorised deposit-taking institutions can email firstname.lastname@example.org for RBA FCS specifications for file format.
Information paper and technical information
In 2013 APRA issued an information paper on the Financial Claims Scheme for authorised deposit-taking institutions. APRA also provides answers to technical frequently asked questions for authorised deposit-taking institutions.
APRA has issued the following letters and consultation packages related to the Financial Claims Scheme.