Regulatory Alerts2024-10-22
Added · Updated
RPG 702.0 ABS/RBA Data Quality for the EFS Collection
APRA establishes data quality benchmarks for Authorized Deposit-taking Institutions and Registered Financial Corporations reporting under the Economic and Financial Statistics collection. The guide defines reporting errors based on quantitative thresholds for stock and flow data, distinguishing between large institutions with total assets of $200 billion or more and other entities. Specific benchmarks include a 0.50% or $2,000 million limit for very high priority stock items for large institutions, and 5 basis points for very high priority rates. Entities are required to notify APRA of reporting errors, resubmit data if requested, and review internal controls to ensure ongoing data reliability.
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