Australia: Regulator proposes to enhance transparency around banking data

Auatralia (New) - Image by Peter Kraayvanger from Pixabay

The Australian Prudential Regulation Authority (APRA) is proposing substantially increasing the volume and breadth of data it makes publicly available on authorised deposit-taking institutions (ADIs).

APRA notes that the move towards greater transparency and scrutiny of the banking sector is aimed at increasing accountability, supporting competition and lifting overall industry standards.

From 2020, APRA proposes publishing: i) entity-level ADI data related to currently published industry-level quarterly data; and ii) remaining historical data in these forms that individual ADIs are required to provide to it.

The regulator also intends to publish commentary it receives from individual ADIs explaining material revisions to, or large movements in, their data.

Stakeholders are required to submit comments by February 28, 2020.

Photo Credit: Pixabay

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