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APRA's Data Collection Overhaul for Credit Reporting (ARS 220)

Updated: Jan 3, 2021



APRA is consulting on changes to ARS 220 reporting which will see the regulator move away from the existing report form-based submissions to a data set collection approach. For the Australian regulator this is a fundamental shift away from its current regulatory reporting practices towards a concept-dimension model approach. APRA has indicated that the data collection changes for ARF220 will form the basis of an ADI financial instrument data model which will be extended at a future date.



Form based to Data based Collection



Collecting granular data sets, at the level of individual contracts, will have profound implications for the regulated industry. This change will introduce a new set of challenges and opportunities for regulated entities. Entities will need to be on the front foot proactively consulting with APRA through the consultation process (due to close on 28 Jan 2021) while at the same time defining the most optimal approach to address this upcoming wave of change in regulatory reporting starting with ARS-220.


Tackling this wave of change in Regulatory Reporting


Taking a strategic approach to addressing this change will set entities up for meeting future regulatory reporting obligations more efficiently but also use this change as a catalyst to bring out significant improvements in internal management reporting, insights, and risk management.


RegCentric hosted a webinar recently covering in detail the changes proposed by APRA, its implications to the regulated industry, and potential opportunities arising out of this change for regulated entities.


If you missed out on the live webinar, you can still watch our recording here.

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