APRA responds to consultation on updates to modernised Economic and Financial Statistics reporting standards and guidance
The Australian Prudential Regulation Authority (APRA) has released a response 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).
The letter issued today follows the consultation released in September 2023 proposing to amend some inconsistencies found in Reporting Standard ARS 701.0 - ABS/RBA Definitions for the EFS Collection Reporting Practice Guide and RPG 701.0 ABS/RBA Reporting Concepts for the EFS Collection and to align with the updated capital framework released in 2021. APRA, the ABS and the RBA also consulted on changes to the EFS Priority Listing for Data Items.
The response letter, the finalised reporting standard, guide and Priority Listings Excel workbook, and non-confidential submissions are available on the APRA website at: Latest updates to the modernised Economic and Financial Statistics reporting standards and guidance.
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.