APRA to make key bank data non-confidential
The balance between business confidentiality and transparency in reporting is a constantly disputed and ever-changing one. With that in mind, we are interested to note a recent announcement by the Australian Prudential Regulation Authority (APRA), affirming that it will publish entity-level data on authorised deposit-taking institutions – or in other words, banks. The decision follows a lengthy consultation process.
The disclosures will include key prudential and financial metrics, aligned with Pillar 3 requirements, to be compiled in a new quarterly publication from 2022. APRA has also outlined corresponding revisions to its reporting rules. {Ed – This is a very interesting development – not least the explicit linkage to Pillar 3. It also represents a really significant change in philosophy. Kudos to APRA!}
