APRA responds to submission on EFS data collection
On 1 May 2019, APRA released a letter to non-ADI lenders detailing amendments to the Economic and Financial Statistics (EFS) data collection, relating to the consolidation of securitisation special purpose vehicles (SPVs).
The proposed changes are intended to capture lending volumes from the non-ADI sector in a manner that allows direct comparisons to the ADI sector.
After consulting a number of non-ADI members, the ASF prepared and submitted a response to APRA on 31 May which, among other things, recommended that where a non-ADI has one or more registered financial corporations (RFCs) within a financial reporting group, the EFS data collection is defined on a financial reporting group basis rather than at an RFC level.
On 28 June APRA released a response letter to the ASF submission, accepting that a number of entities may require APRA to further tailor their reporting requirements to cater for their unique structures. APRA encourages any affected entities to contact them at firstname.lastname@example.org to discuss alternative reporting arrangements if necessary.
In line with APRA’s original proposal, the first reporting period is the period ending 31 July 2019.
Please contact ASF's Robert Gallimore if you require assistance.
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