Monthly banking statistics published by the Australian Prudential Regulation Authority (APRA) are to be expanded to provide data about credit unions and building societies from the end of August.
Announcing the change, Executive General Manager for Risk and Data Analytics at APRA, Sean Carmody said it resulted from the implementation of the new Economic and Financial Statistics (EFS) data collection.
“The EFS is designed to enhance data on key business metrics for authorised deposit-taking institutions (ADIs) and larger non-ADI lenders,” Mr Carmody said.
“As a result, a new Monthly ADI Statistics (MADIS) publication will replace APRA’s Monthly Banking Statistics.”
He said the first edition of the MADIS, containing data for March to July this year, would be published on 30 August.
“In addition to data on domestic and foreign banks, MADIS will contain data on building societies, most credit unions and other ADIs. The data will benefit from improved definitions and consistency under the EFS collection,” Mr Carmody said.
“The creation of MADIS is another important step in our efforts to enhance accessibility and usefulness of APRA’s data publications.”
He said the inclusion of credit unions and building societies in the published data-set would deliver a new level of transparency across the entirety of the ADI sector.
“Not only will the new MADIS publication cover a broader range of entities, users will also benefit from higher quality data flowing from the EFS data collection,” Mr Carmody said.
