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Banks given 35 days to report to APRA

APRA will require ADIs to submit required quarterly reporting forms within 35 calendar days after the reporting period, the banking regulator foreshadowed yesterday in response to a consultation on proposed changes to ADI quarterly reporting due dates.

The exception will be the modernised Economic and Financial Statistics (EFS) reporting forms, which will retain a 28-day due date to suit the priorities of the Australian Bureau of Statistics’ GDP publications.

In its Letter to ADIs, APRA said it will conduct further consultation around the market sensitivity of any information before any public disclosures, typically in statistical publications.

In its submission, the Australian Banking Association appealed to APRA to “allow individual banks to negotiate extensions where submission dates conflict with their own ASX market reporting”.

 

 

 

 

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