APRA has announced they will continue to report ADI’s point of presence data following a consultation paper last year, with some changes. We welcome this decision, because the data is a valuable resource for those tracking channel evolution and migration.
APRA received seven submissions from ADIs and industry associations in response to the proposals outlined in the discussion paper.
The submissions indicated support for retaining the PoP statistics, with limited feedback provided in relation to the proposed content and format of the streamlined PoP statistics.
Three submissions commented on the costs of the current PoP data collection, with one of the submissions including detailed costings. Based on these submissions, the transitional and ongoing costs of the PoP data collection appear to be small.
On the basis that most of the submissions supported retaining the statistics, and the relatively small costs of reporting, the benefit of publishing the statistics outweighs the ongoing compliance costs of submitting data on the proposed form.
After considering the submissions, APRA concluded that it should continue to collect and publish PoP statistics, but in a modified form. APRA therefore intends to implement the following revisions to the PoP statistics:
- establishing a tighter definition of other face-to-face points of presence, which will result in greater consistency of reporting of these service channels;
- removing the requirement to report non face-to-face points of presence;
- collecting more accurate locational data of the points of presence; and
- capturing additional information about the remoteness of these locations using the Australian Statistical Geography Standard.
To lessen the burden of reporting on the current PoP reporting form for 2016, APRA is issuing an exemption that will reduce the reporting requirements in relation to the number of service channels. This exemption will allow ADIs to report no more than the four service channel categories that will be included in the revised reporting form ARF 796: branches, other face-to-face points of presence, ATMs, and EFTPOS terminals. ADIs will not be required to provide information on non-face-to-face point of presence, such as unmanned branches, telephone banking, internet banking and call centres.
The first edition of the streamlined PoP statistics for the reporting period ending on 30 June 2017 will be published in late 2017. In the interim, APRA will release the current version of the PoP statistics for the reporting period ending on 30 June 2016, with reduced service channels 24 August 2016.
