Commonwealth Coat of Arms of Australia

Financial Sector (Collection of Data) (reporting standard) determination No. 6 of 2025

Reporting Standard SRS 551.0 Liquidity

Financial Sector (Collection of Data) Act 2001

I, Andrew Robertson, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act), determine Reporting Standard SRS 551.0 Liquidity, in the form set out in the Schedule, which applies to financial sector entities to the extent provided in paragraph 3 of that reporting standard.

Under section 15 of the Act, I declare that Reporting Standard SRS 551.0 Liquidity shall begin to apply to those financial sector entities at the start of the day after the day this instrument is registered on the Federal Register of Legislation.

This instrument commences at the start of the day after the day it is registered on the Federal Register of Legislation.

 

Dated: 30 April 2025

 

 

Andrew Robertson

Chief Data Officer

Technology and Data Division

 

 

 

 

 

Interpretation

In this instrument:

APRA means the Australian Prudential Regulation Authority.

Federal Register of Legislation means the register established and maintained under section 15A of the Legislation Act 2003.

financial sector entity means financial sector entities of a kind referred to in paragraphs 5(2)(a) to (d) of the Act.

Schedule

 

Reporting Standard SRS 551.0 Liquidity comprises the document commencing on the following page.

Commonwealth Coat of Arms of Australia

Reporting Standard SRS 551.0

Liquidity

This Reporting Standard sets out requirements for the provision of information to APRA relating to the liquidity supply, liquidity demand, liquidity trigger metrics and other indicators of registrable superannuation entities (RSE), defined benefit RSEs and pooled superannuation trusts.

It includes Reporting Form SRF 551.0 Liquidity Supply, Reporting Form SRF 551.1 Liquidity Demand, Reporting Form SRF 551.2 Liquidity Event and Other Indicators, Reporting Form SRF 551.3 Estimated Order Of Asset Liquidation Under Liquidity Stress Condition, associated specific instructions, Appendix A: Summary of reporting levels and scope and Appendix B: Cash and Fixed Income Characteristics Hierarchy.

  1.              This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.
  1.              Information collected under this Reporting Standard is used by APRA for the purposes of prudential supervision and publication. It may be used by the Australian Securities and Investments Commission.
  1.              This Reporting Standard applies to each registrable superannuation entity (RSE) licensee (RSE licensee) in respect of each RSE, defined benefit RSE and pooled superannuation trust (PST) within its business operations[1].
  1.              This Reporting Standard commences at the start of the day after the day it is registered on the Federal Register of Legislation.
  1.              The RSE licensee must provide the information required by this Reporting Standard for the Reporting Periods, by the due dates, set out in the table below.

Reporting Form

Reporting Table

Reporting Period

Due Date

First Reporting Period

Reporting Form SRF 551.0 Liquidity Supply (SRF 551.0)

Table 1 RSE Liquidity Profile

 

Table 2 Investment Option Liquidity Profile

 

Table 3 RSE Available Liquid Assets Within 3 Days

 

Table 4 Investment Option Available Liquid Assets Within 3 Days

Each calendar quarter ending 30 September, 31 December, 31 March and 30 June each year

40 calendar days after the end of the relevant reporting period

The calendar quarter ending on 31 December 2025

 

 

 

Reporting Form SRF 551.1 Liquidity Demand (SRF 551.1)

Table 1 RSE Member Cash Flows

 

Table 2 RSE Investment Calls On Liquidity

 

Table 3 Investment Option Member Cash Flows

 

Table 4 Investment Option Investment Calls On Liquidity

 

Table 5 Foreign Currency Contracts Outstanding

 

Table 6 Investment Options with Significant Net Member Flows

Each calendar quarter ending 30 September, 31 December, 31 March and 30 June each year

40 calendar days after the end of the relevant reporting period

The calendar quarter ending on 31 December 2025

 

 

Reporting Form SRF 551.2 Liquidity Event And Other Indicators (SRF 551.2)

Table 1 Liquidity Event Trigger Metrics Or Indicators

Each year ending on 30 June

For the first reporting period: 15 December 2025

For subsequent reporting periods: 40 calendar days after the end of the relevant reporting period.

The year ending on 30 June 2025

 

Reporting Form SRF 551.3 Estimated Order Of Asset Liquidation Under Liquidity Stress Condition (SRF 551.3)

Table 1 Estimated Order Of Asset Liquidation Under Liquidity Stress Condition 

As requested by APRA

Within 7 calendar days of, or such other time specified in, APRA’s written request.

As requested by APRA from 31 December 2025

 

  1.              If the RSE licensee identifies that any of Level 1 Early Warning Exceeded, Level 2 Early Warning Exceeded or Level 3 Limit Exceeded liquidity trigger metric or indicator has been exceeded, the RSE licensee must provide updated information in SRF 551.2 required by this Reporting Standard within 28 calendar days from the date the liquidity event trigger metric or indicator was first identified as having been exceeded.
  1.              APRA may, by notice in writing, request that the RSE licensee report the information required by SRF 551.3 in relation to the reporting period set out in the written request within 7 calendar days (or such other time specified in the written request).
  1.              An RSE licensee must provide APRA an attestation that the RSE licensee has, or will be, providing updated information to APRA in accordance with paragraph 6.
  2.              An RSE licensee to which this Reporting Standard applies must provide information required under paragraph 8, within 28 days after the end of each calendar quarter.
  1.          If, having regard to the particular circumstances of an RSE, defined benefit RSE or PST, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by paragraph 5, APRA may, by notice in writing, change the reporting periods for the particular RSE, defined benefit RSE or PST.
  2.          Where APRA has changed the reporting periods under paragraph 10, the RSE licensee must provide the relevant information within the time specified by the notice in writing.
  3.          APRA may grant, in writing, an RSE licensee an extension of a due date with respect to one or more RSEs, defined benefit RSEs or PSTs within its business operations, in which case the new due date for the provision of the information will be the due date specified on the notice of extension.

Note: For the avoidance of doubt, APRA’s expectation is that if the due date for a particular reporting period falls on a day other than a usual business day, an RSE licensee will submit the information required no later than the due date.

  1.          The information required by this Reporting Standard must be given to APRA in electronic format using an electronic method available on APRA’s website or by a method notified by APRA prior to submission.
  1.          The information provided by an RSE licensee under this Reporting Standard must be the product of systems, procedures and internal controls that have been reviewed and tested by the RSE auditor of the RSE, defined benefit RSE or PST to which the information relates[2]. This will require the RSE auditor to review and test the RSE licensee’s systems, procedures and internal controls designed to enable the RSE licensee to report reliable information to APRA. This review and testing must be done on:
    1.           an annual basis or more frequently if necessary to enable the RSE auditor to form an opinion on the reliability and accuracy of information; and
    2.           at least a limited assurance engagement consistent with professional standards and guidance notes issued by the Auditing and Assurance Standards Board as may be amended from time to time, to the extent that they are not inconsistent with the requirements of Prudential Standard SPS 310 Audit and Related Matters (SPS 310).
  2.          All information provided by an RSE licensee under this Reporting Standard must be subject to systems, processes and controls developed by the RSE licensee for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the RSE licensee to ensure that an appropriate set of policies, procedures and controls for the authorisation of information submitted to APRA is in place.
  1.          When an officer or agent of an RSE licensee provides the information required by this Reporting Standard using an electronic format, the officer or agent must digitally sign the relevant information using a digital certificate acceptable to APRA.
  2.          If the information required by this Reporting Standard is provided by an agent who submits the information on the RSE licensee’s behalf, the RSE licensee must:
    1.           obtain from the agent a copy of the completed form with the information provided to APRA; and
    2.           retain the completed copy.
  3.          An officer or agent of an RSE licensee who submits the information under this Reporting Standard for, or on behalf of, the RSE licensee must be authorised by either:
    1.           the Chief Executive Officer of the RSE licensee; or
    2.           the Chief Financial Officer of the RSE licensee.
  1.          APRA may make minor variations to:
    1.           a form that is part of this Reporting Standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or
    1.           the instructions to a form, to clarify their application to the form,

without changing any substantive requirement in the form or instructions.

  1.          If APRA makes such a variation, it must notify each RSE licensee that is required to report under this Reporting Standard.
  1.          In this Reporting Standard:

APRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998.

Chief Executive Officer means the chief executive officer of the RSE licensee, by whatever name called, and whether or not he or she is a member of the Board of the RSE licensee[3].

Chief Financial Officer means the chief financial officer of the RSE licensee, by whatever name called.

defined benefit RSE has the meaning of defined benefit fund in subsection 10(1) of the SIS Act.

due date means the relevant due date under paragraph 5, 6, 7 11 or, if applicable, paragraph 12 of this Reporting Standard.

investment option has the meaning given in SRS 101.0.

MySuper product has the meaning given in subsection 10(1) of the SIS Act.

reporting period means a period mentioned in paragraph 5, 6 7 or, if applicable, paragraph 10 of this Reporting Standard.

RSE means a registrable superannuation entity as defined in subsection 10(1) of the SIS Act that is not a defined benefit RSE, pooled superannuation trust, small APRA fund or single member approved deposit fund[4].

RSE auditor means an auditor appointed by the RSE licensee to perform functions under this Reporting Standard.

RSE licensee has the meaning given in subsection 10(1) of the SIS Act.

SIS Act means Superannuation Industry (Supervision) Act 1993.

SRS 101.0 means Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections.

Pooled superannuation trust (PST) has the meaning given in subsection 10(1) of the SIS Act.

  1.          In this Reporting Standard, unless an instrument is not disallowable or contrary intention appears, a reference to an Act, Regulation, Prudential Standard, Reporting Standard, Australian Accounting Standard or Auditing Standard is a reference to the instrument as in force or existing from time to time.
  2.          Where this Reporting Standard provides for APRA to exercise a power or discretion, this power or discretion is to be exercised in writing.

Reporting Form SRF 551.0

Liquidity Supply

Instruction Guide

This instruction guide is designed to assist in the completion of Reporting Form SRF 551.0 Liquidity Supply (SRF 551.0). This form collects information on the liquidity supply of RSEs and investment options within RSEs.

SRF 551.0 must be completed for each RSE, defined benefit RSE and pooled superannuation trust (PST).

Tables described in this reporting form list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set.  Constraints on the data that can be reported for each field have also been provided.

The Unique identifier column indicates which field, or fields form the primary key of the table. Where a field has ‘Y’ in the Unique identifier column, this denotes that this field forms part of the primary key for the table. A blank cell in the Unique identifier column means that the field does not form part of the primary key for the table. Any specific combination of values in the fields that form the primary key of a table must not appear on more than one row in that table when reported.

Report all items on SRF 551.0 in accordance with the Australian Accounting Standards, except where otherwise specified.

Assets and liabilities denominated in currencies other than AUD are to be converted to AUD using the mid-point rate (of market buying and selling spot quotations) effective as at the end of the reporting period. An RSE licensee may use those AUD exchange rates that it judges to be a representative closing mid-market rate as at the end of the reporting period. However, to ensure consistency across related returns and to assist in the reconciliation between these returns, an RSE licensee must use the same exchange rates across all returns submitted to APRA.

Amounts in SRF 551.0 are to be reported as whole dollars.

Items on SRF 551.0 must be reported as at the end of the reporting period.

Tables 1, 2, 3 and 4 are to be reported for internally managed investment option only.

Terms highlighted in bold italics indicate that the definition is provided in Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections (SRS 101.0).

Specific instructions

Report columns 1 to 4 as at the end of the reporting period.

Instructions

Report the value of the investment that can be redeemed for cash in Column 2, for each of the time periods in Column 1.

Where a liquidity stress test has been conducted during the reporting period, report the value of investments that can be redeemed for cash in column 3, for each of the time periods in column 1, based on the relevant worst case liquidity stress scenario of the RSE licensee’s liquidity stress testing.

 

 

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Redeemable For Cash

Y

All filers

  • 1 Day Or Less
  • 2 To 3 Days
  • 4 To 7 Days
  • 8 To 30 Days
  • 31 To 90 Days
  • Greater than 90 Days

Report the time period that the investment can be redeemed to cash given any constraints associated with the redemption or disposal of the investment.

For example, for listed equities when reporting ‘Redeemable Investment Value Amount’ how much of the RSE’s holdings can be reasonably redeemed for cash at or near carrying value given daily trading volume. Similarly, in the case of investment in pooled vehicles how much of the RSE’s holdings can be redeemed for cash at or near carrying value given the redemption constraints for that investment.

 

2

Redeemable Investment Value Amount

 

All filers

Whole dollars

Report the value of the investment that can be redeemed for cash under normal market conditions.

Report the value of investment on an incremental basis (i.e. not cumulative basis). The investment value to be reported under each time periods are to be mutually exclusive such that the sum of all reported values would be equivalent to the total investment value of the RSE.

3

Redeemable Investment Value Amount (Stressed)

 

All filers

Whole dollars

Report the value after stressed returns but before cashflows. This should reflect the RSE licensee’s liquidity assumptions about the liquidity profile of investments under its worst case liquidity stress test scenario.

4

Liquidity Stress Test Date

 

All filers

Date DD/MM/YYYY

Report the date of board (or board delegate) approval of the liquidity stress test.

SRF 551.0 Table 2 must be completed for the following types of internally managed investment options within an RSE, defined benefit RSE or PST:

       investment options which underlie a MySuper Product;

       investment options with a Liquidity Provider Type of ‘Liquidity Provider’ as reported in Table 1 of Reporting Form SRF 605.1 Investment Option Transaction and Pricing Attributes (SRF 605.1);

    investment options with actual allocation of 20% or more to unlisted assets as reported in Table 2 of Reporting Form SRF 550.0 Asset Allocation (SRF 550.0) and with an investment value of at least $50 million. For the purposes of reporting in this form, unlisted assets include Unlisted Property, Unlisted Infrastructure, Unlisted Equity, Unlisted Alternatives and Private Debt;

         investment options with a 100% benchmark allocation to Investment Strategic Sector Type of 'Cash' as reported in Table 1 of SRF 550.0 with an investment value of at least $50 million.

The following types of investment option are excluded from SRF 551.0 Table 2:

         investment options which solely underlie products with the Superannuation Product Category Type of ‘Insurance Only’ or ‘Whole of Life or Endowment’.

 

Instructions

Report the value of the investment option that can be redeemed for cash in column 4, for each of the time periods in column 3.

Where a liquidity stress test has been conducted during the reporting period, report the value of investments that can be redeemed for cash in column 5 based on the relevant worst case liquidity stress test scenario of the RSE licensee’s liquidity stress testing.  

For purposes of reporting in this form, report the liquidity information for each lifecycle stage or cohort, or, by investment pool where an RSE licensee manages liquidity at the investment pool. For example, an RSE licensee with 10 lifecycle stages which invests in three investment pools, such as Conservative, Balanced, and Growth investment pools and where liquidity is managed at that pool level, report for each investment pool.

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Investment Option Identifier

Y

All filers

No more than 20 alpha-numeric characters (with no special characters)

Report the investment option identifier. The investment option identifier must correspond to an investment option identifier reported in SRF 605.0.

2

In-scope Criteria

 

All filers

  • MySuper Product
  • Liquidity Provider
  • Unlisted allocation
  • Cash Sector

Report the criteria for reporting the investment option.

3

Redeemable For Cash

Y

All filers

  • 1 Day Or Less
  • 2 To 3 Days
  • 4 To 7 Days
  • 8 To 30 Days
  • 31 To 90 Days
  • Greater than 90 Days

Report the time period that the investment can be redeemed to cash, given any constraints associated with the redemption or disposal of the investment.

For example, for listed equities when reporting ‘Redeemable Investment Value Amount’ how much of the investment option’s holdings can be reasonably redeemed for cash at or near carrying value given daily trading volume. Similarly, in the case of investment in pooled vehicles how much of the investment option’s holdings can be redeemed for cash at or near carrying value given the redemption constraints for that investment.

4

Redeemable Investment Value Amount

 

All filers

Whole dollars

Report the value of the investment option that can be redeemed for cash under normal market conditions on an incremental basis (i.e. not cumulative basis). The investment value to be reported under each time periods are to be mutually exclusive such that the sum of all reported values would be equivalent to the total investment value of the investment option.

5

Redeemable Investment Value Amount (Stressed)

 

All filers

Whole dollars

Report the value of the investment option after stressed returns but before cashflows. This should reflect the RSE licensee’s liquidity assumptions about the liquidity profile of investments under its worst case liquidity stress test scenario.

6

Liquidity Stress Test Date

 

All filers

Date DD/MM/YYYY

Report the date of board (or board delegate) approval of the liquidity stress test.

 

Instructions

Report the value of the investment that can be redeemed for cash within the relevant period.

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Investment Management Type

Y

All filers

  • Internally Managed Investment
  • Externally Managed Investment

Report the investment management type of the investment.

2

Investment Strategic Sector Type

Y

All filers

  • Cash
  • Fixed Income
  • Fixed Income Excluding Credit
  • Credit
  • Equity
  • Property
  • Infrastructure
  • Alternatives
  • Growth Alternatives
  • Defensive Alternatives

Report the strategic sector of the investment.

3

Investment Strategic Sector Listing Type

Y

All filers

  • Listed
  • Unlisted
  • Not Specified
  • Not Applicable

Report the listing type of the strategic sector of the investment.

4

Investment Strategic Sector Domicile Type

Y

All filers

  • Australian Domicile
  • International Domicile
  • Not Specified
  • Not Applicable

Report the domicile type of the strategic sector of the investment.

5

Investment Strategic Sector International Economy Type

Y

All filers

  • Emerging Markets
  • Developed Markets
  • Not Specified
  • Not Applicable

Report the international economy type of the strategic sector of the investment.

6

Cash And Fixed Income Characteristics Type

Y

All filers

  • Cash Cash At Bank
  • Cash Term Deposit
  • Cash Short Term Bank Bills Or Securities (other than NCDs)
  • Negotiable Certificates of Deposit
  • Cash Cash Management Trust
  • Fixed Income Government/Semi-Government
  • Fixed Income – Non-Government (other than Private Debt)
  • Fixed Income Private Debt
  • Fixed Income Other
  • Not Applicable

Report the relevant cash and fixed income characteristic type.

Refer to Appendix B

7

Redeemable For Cash

Y

All filers

  • 1 Day Or Less
  • 2 To 3 Days

Report the time period that the investment can be redeemed to cash, given any constraints associated with the redemption or disposal of the investment.

For example, for listed equities when reporting ‘Redeemable Investment Value Amount’ how much of the RSE’s holdings are able to be reasonably redeemed for cash at or near carrying value given daily trading volume. Similarly, in the case of investment in pooled vehicles how much of the RSE’s holdings can be redeemed for cash at or near carrying value given the redemption constraints for that investment.

 

8

Redeemable Investment Value Amount

 

All filers

Whole dollars

Report the value of the investment that can be redeemed for cash under normal market conditions.

Report the value of investment on an incremental basis (i.e. not cumulative basis).


Instructions

SRF 551.0 Table 4 must be completed for the following types of internally managed investment options within an RSE, defined benefit RSE or PST:

       investment options which underlie a MySuper Product;

       investment options with a Liquidity Provider Type of ‘Liquidity Provider’ as reported in Table 1 of Reporting Form SRF 605.1 Investment Option Transaction and Pricing Attributes (SRF 605.1);

    investment options with actual allocation of 20% or more to unlisted assets as reported in Table 2 of Reporting Form SRF 550.0 Asset Allocation (SRF 550.0) and with an investment value of at least $50 million. For the purposes of reporting in this form, unlisted assets include Unlisted Property, Unlisted Infrastructure, Unlisted Equity, Unlisted Alternatives and Private Debt;

         investment options with a 100% benchmark allocation to Investment Strategic Sector Type of 'Cash' as reported in Table 1 of Reporting Form SRF 550.0 Asset Allocation with an investment value of at least $50 million.

The following types of investment option are excluded from SRF 551.0 Table 4:

 

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Investment Option Identifier

Y

All filers

No more than 20 alpha-numeric characters (with no special characters)

Report the investment option identifier. The investment option identifier must correspond to an investment option identifier reported in SRF 605.0.

2

Investment Management Type

 

All filers

  • Internally Managed Investment
  • Externally Managed Investment

Report the investment management type of the investment.

3

In-scope Criteria

 

All filers

  • MySuper Product
  • Liquidity Provider
  • Unlisted allocation
  • Cash Sector

Report the criteria for reporting the investment option.

4

Investment Strategic Sector Type

Y

All filers

  • Cash
  • Fixed Income
  • Fixed Income Excluding Credit
  • Credit
  • Equity
  • Property
  • Infrastructure
  • Alternatives
  • Growth Alternatives
  • Defensive Alternatives

Report the strategic sector of the investment.

5

Investment Strategic Sector Listing Type

Y

All filers

  • Listed
  • Unlisted
  • Not Specified
  • Not Applicable

Report the listing type of the strategic sector of the investment.

6

Investment Strategic Sector Domicile Type

Y

All filers

  • Australian Domicile
  • International Domicile
  • Not Specified
  • Not Applicable

Report the domicile type of the strategic sector of the investment.

7

Investment Strategic Sector International Economy Type

Y

All filers

  • Emerging Markets
  • Developed Markets
  • Not Specified
  • Not Applicable

Report the international economy type of the strategic sector of the investment.

8

Cash And Fixed Income Characteristics Type

Y

All filers

  • Cash Cash At Bank
  • Cash Term Deposit
  • Cash Short Term Bank Bills Or Securities (other than NCDs)
  • Negotiable Certificates of Deposit
  • Cash Cash Management Trust
  • Fixed Income Government/Semi-Government
  • Fixed Income – Non-Government (other than Private Debt)
  • Fixed Income Private Debt
  • Fixed Income Other
  • Not Applicable

Report the relevant cash and fixed income characteristic type.

Refer to Appendix B

9

Redeemable For Cash

Y

All filers

  • 1 Day Or Less
  • 2 To 3 Days

Report the time period that the investment can be redeemed to cash, given any constraints associated with the redemption or disposal of the investment.

For example, for listed equities when reporting ‘Redeemable Investment Value Amount’ how much of the investment option’s holdings can be reasonably redeemed for cash at or near carrying value given daily trading volume. Similarly, in the case of investment in pooled vehicles how much of the investment option’s holdings can be redeemed for cash at or near carrying value given the redemption constraints for that investment.

10

Redeemable Investment Value Amount

 

All filers

Whole dollars

Report the value of the investment that can be redeemed for cash under normal market conditions.

Report the value of investment on an incremental basis (i.e. not cumulative basis).


 

Reporting Form SRF 551.1

Liquidity demand

Instruction Guide

This instruction guide is designed to assist in the completion of Reporting Form SRF 551.1 Liquidity Demand (SRF 551.1). This form collects information on actual and estimated cashflows, member transactions and foreign currency contracts outstanding.

SRF 551.1 must be completed for each RSE, defined benefit RSE and pooled superannuation trust (PST).

Tables described in this reporting form list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set.  Constraints on the data that can be reported for each field have also been provided.

The Unique identifier column indicates which field or fields form the primary key of the table. Where a field has ‘Y’ in the Unique identifier column, this denotes that this field forms part of the primary key for the table. A blank cell in the Unique identifier column means that the field does not form part of the primary key for the table. Any specific combination of values in the fields that form the primary key of a table must not appear on more than one row in that table when reported.

 

Report all items on SRF 551.1 in accordance with the Australian Accounting Standards.

Assets and liabilities denominated in currencies other than AUD are to be converted to AUD using the mid-point rate (of market buying and selling spot quotations) effective as at the end of the reporting period. An RSE licensee may use those AUD exchange rates that it judges to be a representative closing mid-market rate as at the end of the reporting period. However, to ensure consistency across related returns and to assist in the reconciliation between these returns, an RSE licensee must use the same exchange rates across all returns submitted to APRA.

Amounts in SRF 551.1 are to be reported as whole dollars. Percentages are to be reported as an unconverted number to two decimal places. For example, 12.34 per cent is to be reported as 0.1234.

Items on SRF 551.1 must be reported as at the end of the reporting period.

Terms highlighted in bold italics indicate that the definition is provided in Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections (SRS 101.0).

Specific instructions

Instructions

For each RSE, report the dollar value of net members’ flows within the reporting period in Column 1.

Where a liquidity stress test has been conducted during the reporting period, report the estimated value of net members’ flows in Column 2 based on the relevant worst case liquidity stress test scenario of the RSE licensee’s liquidity stress testing.  

In Column 3, report the number of days used to calculate the estimated stressed net cash flows based on the RSE licensee’s liquidity stress testing. For example, if the estimated stressed net cash outflows is for 30 days, report 30 days. The liquidity stress test relied upon in this table must be the same as the test reported in SRF 551.0 table 1. 

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Actual Net Cash Flows

 

All filers

Whole dollars

Report the actual net cash flows.

Report net inflows as a positive number and net outflows as a negative number.

2

Estimated Stressed Net Cash Flows

 

All filers

Whole dollars

Report the estimated stressed net cash flows. This should reflect the RSE licensee’s stressed net cash flows under its worst case liquidity stress test scenario.

Report net inflows as a positive number and net outflows as a negative number.

3

Number Of Days Covered

 

All filers

Positive Integer

Report the assumed number of days used to calculate the estimated stressed net cash flows.

 

Instructions

For each RSE, report the dollar value of actual net cash flows for internally managed investment options within the reporting period in Column 3.

Where a liquidity stress test has been conducted during the reporting period, report the estimated value of net cash inflows or outflows based on the relevant worst case liquidity stress test scenario of the RSE licensee’s liquidity stress testing in Column 4 for the relevant Cash Flow Type.  

In Column 5, report the number of days that applies to the estimated cash flows in Column 4 based on the RSE licensee’s liquidity stress test. The liquidity stress test relied upon in this Table must be the same as the test reported in SRF 551.0 Table 1. 

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Cash Flow Type

Y

All filers

  • Derivative Margining
  • Foreign Currency Contracts Settlements
  • Capital Calls/ Funding Commitments
  • Expenditures
  • Other Funding Requirements

Report the Cash Flow Type.

 

2

Other Funding Requirements

Y

All filers

Text (100)

Report a description of other funding requirements.

Where the Cash Flow Type reported in Column 1 is not ‘Other Funding Requirements’, report ‘Not Applicable’.

3

Actual Net Cash Flows

 

All filers

Whole Dollars

Report the actual net cash flows associated with internally managed investment options of the RSE.

Report net inflows as a positive number and net outflows as a negative number.

4

Estimated Stressed Net Cash Flows

 

All filers

Whole Dollars

Report the estimated stressed net cash flows. This should reflect the RSE licensee’s stressed net cash flows under its worst case liquidity stress test scenario.

Report net inflows as a positive number and net outflows as a negative number.

5

Number Of Days Covered

 

All filers

Positive Integer

Report the assumed number of days used to calculate the estimated stressed net cash flows.

 

SRF 551.1 Table 3 must be completed for the following types of investment options within an RSE, defined benefit RSE or PST:

       investment options which underlie a MySuper Product;

       investment options with a Liquidity Provider Type of ‘Liquidity Provider’ as reported in Table 1 of Reporting Form SRF 605.1 Investment Option Transaction and Pricing Attributes (SRF 605.1);

    investment options with actual allocation of 20% or more to unlisted assets as reported in Table 2 of Reporting Form SRF 550.0 Asset Allocation (SRF 550.0) and with an investment value of at least $50 million. For the purposes of reporting in this form, unlisted assets include Unlisted Property, Unlisted Infrastructure, Unlisted Equity, Unlisted Alternatives and Private Debt;

         investment options with a 100% benchmark allocation to Investment Strategic Sector Type of 'Cash' as reported in Table 1 of SRF 550.0  and with an investment value of at least $50 million.

The following types of investment option are excluded from SRF 551.1 Table 3:

 

Instructions

Items on SRF 551.1 Table 3 must be reported with respect to transactions that occurred during the reporting period.

For each investment option, report the dollar value of Net Members’ Flows within the reporting period in Column 5 for the relevant combination of Taxation Status and Cash Flow Type.

Where a liquidity stress test has been conducted during the reporting period, report the estimated value of net members’ flows based on the relevant worst case liquidity stress test scenario of the RSE licensee’s liquidity stress testing in Column 6 for the relevant combination of Taxation Status and Cash Flow Type.

In Column 7, report the assumed number of days used to calculate the estimated cashflows reported in Column 6 based on the RSE licensee’s liquidity stress test. The liquidity stress test relied upon in this Table 3 must be the same as the test reported in SRF 551.0 Table 1. 

 

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Investment Option Identifier

Y

All filers

No more than 20 alpha-numeric characters (with no special characters)

Report the investment option identifier. The investment option identifier must correspond to an investment option identifier reported in SRF 605.0.

2

Taxation Status

Y

All filers

  • Taxed (Accumulation and Transition to Retirement)
  • Untaxed (Retirement)
  • Taxed and Untaxed (Defined Benefit)

Report the taxation status.

3

In-scope Criteria

 

All filers

  • Mysuper Product
  • Liquidity Provider
  • Unlisted allocation
  • Cash Sector

Report the criteria for reporting the investment option.

4

Cash Flow Type

Y

All filers

  • Net Members’ Flows
  • Product Transfers

Report the cash flow type.

5

Actual Net Cash Flows

 

All filers

Whole dollars

Report the actual net cash flows.

Report net inflows as a positive number and net outflows as a negative number.

6

Estimated Stressed Net Cash Flows

 

All filers

Whole dollars

Report the estimated stressed net cash flows. This should reflect the RSE licensee’s stressed net cash flows under its worst case liquidity stress test scenario.

Report net inflows as a positive number and net outflows as a negative number.

7

Number Of Days Covered

 

All filers

Positive Integer

Report the assumed number of days used to calculate the estimated stressed net cash flows.

 

SRF 551.1 Table 4 must be completed for the following types of internally managed investment options within an RSE, defined benefit RSE or PST:

       investment options which underlie a MySuper Product;

       investment options with a Liquidity Provider Type of ‘Liquidity Provider’ as reported in Table 1 of Reporting Form SRF 605.1 Investment Option Transaction and Pricing Attributes (SRF 605.1) for the same reporting period;

    investment options with actual allocation of 20% or more to unlisted assets as reported in Table 2 of Reporting Form SRF 550.0 Asset Allocation (SRF 550.0) and with an investment value of at least $50 million. For the purposes of reporting in this form, unlisted assets include Unlisted Property, Unlisted Infrastructure, Unlisted Equity, Unlisted Alternatives and Private Debt;

         investment options with a 100% benchmark allocation to Investment Strategic Sector Type of ‘Cash’ as reported in Table 1 of SRF 550.0 and with an investment value of at least $50 million.

 

The following types of investment option are excluded from SRF 551.1 Table 4:

 

Instructions

Items on SRF 551.1 Table 4 must be reported with respect to transactions that occurred during the reporting period.

For each investment option, report the dollar value of actual net cash flows within the reporting period in Column 6, for the relevant combination of Taxation Status and Cash Flow Type.

Where derivatives are managed at the RSE level, APRA expects RSE licensees to apportion margining or contract settlements to each relevant investment option, including in scope option.

Where a liquidity stress test has been conducted during the reporting period, report the estimated value of net cash inflows or outflows based on the relevant worst case liquidity stress test scenario of the RSE licensee’s liquidity stress testing in Column 7, for the relevant combination of Taxation Status and Cashflow Type.  

In Column 8, report the assumed number of days used to calculate the estimated stressed net cash flows in Column 7 based on the RSE licensee’s liquidity stress testing. The liquidity stress test relied upon in this Table must be the same as the test reported in SRF 551.0 Table 1. 

 

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Investment Option Identifier

Y

All filers

No more than 20 alpha-numeric characters (with no special characters)

Report the investment option identifier. The investment option identifier must correspond to an investment option identifier reported in SRF 605.0.

2

Taxation Status

Y

All filers

  • Taxed (Accumulation and Transition to Retirement)
  • Untaxed (Retirement)
  • Taxed and Untaxed (Defined Benefit)

Report the taxation status.

3

In-scope Criteria

 

All filers

  • MySuper Product
  • Liquidity Provider
  • Unlisted Allocation
  • Cash Sector

Report the criteria for reporting the investment option.

4

Cash Flow Type

Y

All filers

  • Derivative Margining
  • Foreign Currency Contracts Settlements
  • Capital Calls/ Funding Commitments
  • Expenditures
  • Other Funding Requirements

Report the cash flow type.

 

5

Other Funding Requirements

Y

All filers

Text (100)

Report a description of other funding requirements.

Where the Cash Flow Type reported in Column 1 is not ‘Other Funding Requirements’, report ‘Not Applicable’.

6

Actual Net Cash Flows

 

All filers

Whole Dollars

Report the actual net cash flows.

Report net inflows as a positive number and net outflows as a negative number.

7

Estimated Stressed Net Cash Flows

 

All filers

Whole Dollars

Report the estimated stressed net cash flows.

Report net inflows as a positive number and net outflows as a negative number.

8

Number Of Days Covered

 

All filers

Positive Integer

Report the assumed number of days used to calculate the estimated stressed net cash flows.

 

Instructions

Report the aggregate amount of directly held (including Individually Managed Mandate) foreign exchange (FX) contracts outstanding as at the end of the reporting period.

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Foreign Currency Contracts Outstanding

Y

All filers

  • Principal Value Of Foreign Currency Contracts Outstanding
  • Positive Market Value Of Foreign Currency Contracts Outstanding
  • Negative Market Value Of Foreign Currency Contracts Outstanding

Report the foreign currency contract outstanding value type.

Report in one row (Principal Value of Foreign Currency Contracts Outstanding) the Principal Value of Foreign Currency Contracts Outstanding and allocate values under each of the respective maturity time periods.

Report in one row (Positive Market Value of Foreign Currency Contracts Outstanding) the Positive Market Value of Foreign Currency Contracts Outstanding and allocate values under each of the respective maturity time periods.

Report in one row (Negative Market Value of Foreign Currency Contracts Outstanding) the Negative Market Value of Foreign Currency Contracts Outstanding and allocate values under each of the respective maturity time periods.

2

Up To 7 Days

 

All filers

Whole dollars

Report the principal value, positive or negative market value of foreign currency contracts outstanding maturing within 7 days.

3

8 To 30 Days

 

All filers

Whole dollars

Report the principal value, positive or negative market value of foreign currency contracts outstanding maturing from 8 days up to 30 days.

4

31 To 90 Days

 

All filers

Whole dollars

Report the principal value, positive or negative market value of foreign currency contracts outstanding maturing from 31 days up to 90 days.

5

91 to 120 Days

 

All filers

Whole dollars

Report the principal value, positive or negative market value of foreign currency contracts outstanding maturing from 91 days up to 120 days.

6

121 To 150 Days

 

All filers

Whole dollars

Report the principal value, positive or negative market value of foreign currency contracts outstanding maturing from 121 days up to 150 days.

7

151 To 180 Days

 

All filers

Whole dollars

Report the principal value, positive or negative market value of foreign currency contracts outstanding maturing from 151 days up to 180 days.

8

Greater than 180 Days

 

All filers

Whole dollars

Report the principal value, positive or negative market value of foreign currency contracts outstanding maturing after 180 days.

 

Instructions

Report the investment options with an investment value of at least $50 million that have actual net cash flows that represent 3% or more of the investment option’s total investment values as at the beginning of the quarter.

The following types of investment options are excluded from SRF 551.1 Table 6:

 

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Investment Option Identifier

Y

All filers

No more than 20 alpha-numeric characters (with no special characters)

Report the investment option identifier. The investment option identifier must correspond to an investment option identifier reported in SRF 605.0.

2

Taxation Status

Y

All filers

  • Taxed (Accumulation and Transition to Retirement)
  • Untaxed (Retirement)
  • Taxed and Untaxed (Defined Benefit)

Report the taxation status

3

In-Specie Indicator

Y

 

  • Yes
  • No

 

Report whether the member inflow/(outflow) is in-specie or not.

Report ‘Yes’ if in-specie, otherwise report ‘No’.

4

Actual Net Cash Flows

 

All filers

Whole Dollars

Report the actual net cash flows. Report inflows as a positive number and outflows as a negative number.

Reporting Form SRF 551.2

Liquidity Event Trigger Metrics Or Indicators

Instruction Guide

This instruction guide is designed to assist in the completion of Reporting Form SRF 551.2 Liquidity Event Trigger Metrics Or Indicators (SRF 551.2). This form collects information on the liquidity trigger metrics or indicators at the RSE level and at the investment option level based on the RSE licensee’s liquidity management policy. This form also collects information when any of the liquidity trigger metrics or indicators have been exceeded during the reporting period.

SRF 551.2 must be completed for each RSE, defined benefit RSE and pooled superannuation trust (PST).

Tables described in this reporting form list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set.  Constraints on the data that can be reported for each field have also been provided.

The Unique identifier column indicates which field or fields form the primary key of the table. Where a field has ‘Y’ in the Unique identifier column, this denotes that this field forms part of the primary key for the table. A blank cell in the Unique identifier column means that the field does not form part of the primary key for the table. Any specific combination of values in the fields that form the primary key of a table must not appear on more than one row in that table when reported.

 

Report all items on SRF 551.2 in accordance with the Australian Accounting Standards, except where otherwise specified.

Assets and liabilities denominated in currencies other than AUD are to be converted to AUD using the mid-point rate (of market buying and selling spot quotations) effective as at the end of the reporting period. An RSE licensee may use those AUD exchange rates that it judges to be a representative closing mid-market rate as at the end of the reporting period. However, to ensure consistency across related returns and to assist in the reconciliation between these returns, an RSE licensee must use the same exchange rates across all returns submitted to APRA.

Amounts in SRF 551.2 are to be reported as whole dollars. Percentages are to be reported as an unconverted number to two decimal places. For example, 12.34 per cent is to be reported as 0.1234.

Items on SRF 551.2 must be reported as at the end of the reporting period, or, if an RSE licensee is submitting ad-hoc information, as at the date of the change.

Terms highlighted in bold italics indicate that the definition is provided in Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections (SRS 101.0).

Specific instructions

Instructions

Report the liquidity trigger metric or indicator as defined in the RSE licensee’s liquidity management policy.

SRF 551.2 Table 1 must be completed for the following types of investment options within an RSE, defined benefit RSE or PST:

         investment options which underlie a MySuper Product;

        investment options with a Liquidity Provider Type of ‘Liquidity Provider’ as reported in Table 1 of Reporting Form SRF 605.1 Investment Option Transaction and Pricing Attributes (SRF 605.1) for the same reporting period;

        investment options with actual allocation of 20% or more to unlisted assets as reported in Table 2 of Reporting Form SRF 550.0 Asset Allocation (SRF 550.0) and with an investment value of at least $50 million. For the purposes of reporting in this form, unlisted assets include Unlisted Property, Unlisted Infrastructure, Unlisted Equity, Unlisted Alternatives and Private Debt;

        investment options with a 100% benchmark allocation to Investment Strategic Sector Type of ‘Cash’ as reported in Table 1 of SRF 550.0 and with an investment value of at least $50 million; and

        investment options with a liquidity trigger metric or indicator that was exceeded during the reporting period.

The following types of investment options are excluded from SRF 551.2 Table 1:

         investment options which are permitted to be aggregated in Table 3 of SRF 605.0;

        investment options which are reported on SRF 605.0 under investment option category Annuity; and

        investment options which solely underlie products with the Superannuation Product Category Type of ‘Insurance Only’ or ‘Whole of Life or Endowment’.

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Liquidity Trigger Or Indicator Identifier

Y

All filers

No more than 20 alpha-numeric characters (with no special characters)

Report the liquidity trigger metric or indicator identifier for each level of liquidity trigger metric or indicator.

2

RSE Or Investment Option

Y

All filers

  • RSE Level
  • Investment Option Level

Report whether the liquidity trigger metric or indicator applies at RSE or investment option level.

3

Investment Option Identifier

Y

All filers

Text (20)

 

If investment option level is reported in Column 2, report the investment option identifier. The investment option identifier must correspond to an investment option identifier reported in SRF 605.0.

If RSE Level is reported in Column 2, report ‘Not Applicable’. 

4

Liquidity Trigger Metric Or Indicator

Y

All filers

  • Illiquid Assets Exposure – Actual
  • Illiquid Assets Exposure – Stressed
  • Cash Available
  • Liquidity Indicator Metric
  • Member Switching
  • Member Outflows
  • Asset Allocation Limits
  • Total Option Inflows/Outflows
  • Capital Commitments
  • Decline In Equity Indices
  • AUD Depreciation
  • Other Market Indicators
  • Investment Option Size
  • Other

Report the applicable liquidity trigger metric or indicator as defined in the RSE licensee’s liquidity management policy.

5

Description Of The Liquidity Trigger Metric Or Indicator

Y

All filers

Text (1000)

Report any additional information relevant to the interpretation of liquidity trigger metric or indicator, including:

  •        the liquidity trigger metric or indicator value (e.g. dollar value, percentage of which base value, percentage change over what time period, etc.);
  •        whether it is a level 1 early warning exceeded, level 2 early warning exceeded or level 3 limit exceeded trigger metric or indicator; and
  •        description relevant to the interpretation of items reported in this table, including description of 'Other' (if applicable).

6

Level 1 Early warning trigger or indicator exceeded

Y

All filers

  • Yes
  • No

Report whether a level 1 early warning exceeded has occurred that requires action, e.g. more frequent reporting and or monitoring to the board.

7

Level 2 Early warning trigger or indicator exceeded

Y

All filers

  • Yes
  • No

Report whether a level 2 early warning exceeded has occurred that requires liquidity risk mitigating actions e.g. sell down of assets and escalation to the board.

8

Level 3 Limit exceeded

Y

All filers

  • Yes
  • No

Report whether a level 3 limit exceeded has occurred that is a breach of the RSE licensee’s liquidity management policy limit.

9

Description Of The Liquidity Trigger Metric Or Indicator exceeded

Y

All filers

Text (1000)

Report relevant information about the liquidity trigger metric or  indicator exceeded and any response taken.

Include the following:

  •        value of the liquidity trigger metric or indicator exceeded: value as at report date;
  •        range of value (highest and lowest) the liquidity trigger metric or indicator was in excess;
  •        the number of days it was in excess; and/or,
  •        any other information relevant to the interpretation of the liquidity trigger metric or indicator exceeded.

Reporting Form SRF 551.3

Estimated Order of Asset Liquidation Under Liquidity Stress Condition

Instruction Guide

This instruction guide is designed to assist in the completion of Reporting Form SRF 551.3 Estimated Order of Asset Liquidation Under Liquidity Stress Condition (SRF 551.3). This form collects information on the RSE licensee’s best estimate of asset liquidation order under liquidity stress conditions that demonstrates its liquidity action plan.

SRF 551.3 must be completed for each RSE, defined benefit RSE and pooled superannuation trust (PST).

Tables described in this reporting form list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set.  Constraints on the data that can be reported for each field have also been provided.

The Unique identifier column indicates which field or fields form the primary key of the table. Where a field has ‘Y’ in the Unique identifier column, this denotes that this field forms part of the primary key for the table. A blank cell in the Unique identifier column means that the field does not form part of the primary key for the table. Any specific combination of values in the fields that form the primary key of a table must not appear on more than one row in that table when reported.

 

Report all items on SRF 551.3 in accordance with the Australian Accounting Standards.

Assets and liabilities denominated in currencies other than AUD are to be converted to AUD using the mid-point rate (of market buying and selling spot quotations) effective as at the end of the reporting period. An RSE licensee may use those AUD exchange rates that it judges to be a representative closing mid-market rate as at the end of the reporting period. However, to ensure consistency across related returns and to assist in the reconciliation between these returns, an RSE licensee must use the same exchange rates across all returns submitted to APRA.

Amounts in SRF 551.3 are to be reported as whole dollars. Percentages are to be reported as an unconverted number to two decimal places. For example, 12.34 per cent is to be reported as 0.1234.

Items on SRF 551.3 must be reported as at the end of the reporting period.

SRF 551.3 is to be reported for internally managed investments options only.

Terms highlighted in bold italics indicate that the definition is provided in Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections (SRS 101.0).

Specific instructions

Instructions

Report the RSE licensee's best estimate of asset liquidation order and amount for internally managed investment options under liquidity stress conditions.

 

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Liquidation Order

Y

All filers

Integer

Report the rank (1 being first) of the asset to be liquidated.

2

Investment Management Type

Y

All filers

  • Internally Managed Investment
  • Externally Managed Investment

Report the investment management type of the investment.

3

Investment Strategic Sector Type

Y

All filers

  • Cash
  • Fixed Income
  • Fixed Income Excluding Credit
  • Credit
  • Equity
  • Property
  • Infrastructure
  • Alternatives
  • Growth Alternatives
  • Defensive Alternatives

Report the strategic sector of the investment.

4

Investment Strategic Sector Listing Type

Y

All filers

  • Listed
  • Unlisted
  • Not Applicable

Report the listing type of the strategic sector of the investment.

5

Investment Strategic Sector Domicile Type

Y

All filers

  • Australian Domicile
  • International Domicile
  • Not Applicable

Report the domicile type of the strategic sector of the investment.

6

Investment Strategic Sector International Economy Type

Y

All filers

  • Emerging Markets
  • Developed Markets
  • Not Applicable

Report the international economy type of the strategic sector of the investment.

7

Cash And Fixed Income Characteristics Type

Y

All filers

  • Cash Cash At Bank
  • Cash Term Deposit
  • Cash Short Term Bank Bills Or Securities (other than NCDs)
  • Negotiable Certificates of Deposit
  • Cash Cash Management Trust
  • Fixed Income Government/Semi-Government
  • Fixed Income – Non-Government (other than Private Debt)
  • Fixed Income Private Debt
  • Fixed Income Other
  • Not Applicable

Report the relevant Cash and Fixed Income Characteristics.

Refer to Appendix B.

8

Investment Value Amount

 

All filers

Whole dollars

Report the value of the asset, investment or fund.

9

Planned Liquidation Timeframe

Y

All filers

  •        Next 3 days
  •        Next 30 days

 

Report the timeframe over which the specified amount of investment is planned to be liquidated.

10

Amount Estimated To Be Liquidated

 

All filers

Monetary

Report the amount estimated to be liquidated over the planned liquidation timeframe.

11

Estimated Valuation Haircut

 

All filers

Percentage

Report the percentage reduction in value of the amount estimated to be liquidated over the planned liquidation timeframe.

12

Additional Information

 

All filers

Text (1000)

Report any additional information relevant to the interpretation of items reported in this table.

Appendix A: Summary of reporting levels and scope

Reporting Form

Reporting Table

Reporting Level

Reporting on an APRA look through basis

Subject to materiality or identified scope?

Investment Option Reporting: 

Internally managed or

Externally managed?

SRF 551.0

Table 1 RSE Liquidity Profile

RSE

No

 

Internally managed investment option

Table 2 Investment Option Liquidity Profile

Investment Option

No

Yes

Internally managed investment option

Table 3 RSE Available Liquid Assets Within 3 Days

RSE

Only for Cash and Fixed Income Characteristics

 

Internally managed investment option

Table 4 Investment Option Available Liquid Assets Within 3 Days

Investment Option

Only for Cash and Fixed Income Characteristics

Yes

Internally managed investment option

SRF 551.1

Table 1 RSE Member Cash Flows

RSE

No

 

Both

Table 2 RSE Investment Calls On Liquidity

RSE

No

 

Internally managed investment option

Table 3 Investment Option Member Cash Flows

Investment Option

No

Yes

Both

 

Table 4 Investment Option Investment Calls On Liquidity

Investment Option

No

Yes

Internally managed investment option

Table 5 Foreign Currency Contracts Outstanding

RSE

No

 

Both

Table 6 Investment Options with Significant Net Member Flows

Investment Option

No

Yes

Both

SRF 551.2 Liquidity Event And Other Indicators (SRF 551.2)

Table 1 RSE Liquidity Event Trigger Metrics Or Indicators

RSE

No

 

Both

SRF 551.3 Estimated Order Of Asset Liquidation Under Liquidity Stress Condition (SRF 551.3)

Table 1 Estimated Order Of Asset Liquidation Under Liquidity Stress Condition 

RSE

Only for Cash and Fixed Income Characteristics

 

Internally managed investment option

 

Reporting on an APRA-look through basis means:

(a)    where the ultimate investment is held directly by the RSE licensee, reporting that investment;

(b)   where the ultimate investment is held by a person connected with the RSE licensee, reporting that investment; and

(c)    where the ultimate investment is not held by the RSE licensee or a person connected with the RSE licensee, reporting the most proximate investment, of a person connected with the RSE licensee, to the ultimate investment.[5] [6]

Appendix B: Cash and Fixed Income Characteristics Hierarchy

The following table shows the hierarchical relationships between asset class characteristic 2 (reported in Reporting Standard SRS 550.0 Asset Allocation) and cash and fixed income characteristics (reported in Reporting Standard SRS 551.0 Liquidity)

Asset Class Sector Type

Asset Class Characteristic 2

Cash And Fixed Income Characteristics

Cash

Cash Cash At Bank

Cash Cash At Bank

 

Cash Term Deposit

Cash Term Deposit

 

Cash Short Term Bank Bills Or Securities

Cash Short Term Bank Bills Or Securities (other than NCDs)

Negotiable Certificates of Deposit

 

Cash Cash Management Trust

Cash Cash Management Trust

Fixed Income

Fixed Income Bonds Government Coupon

Fixed Income Bonds Government Inflation-linked

Fixed Income Bonds Government Other

Fixed Income Government/Semi-Government

 

 

Fixed Income Bonds Corporate

Fixed Income Asset Backed Commercial Mortgage

Fixed Income Asset Backed Residential Mortgage

Fixed Income Asset Backed Other

Fixed Income Structured Non-Asset Backed

Fixed Income Mezzanine Debt

Fixed Income Enhanced Cash

Fixed Income Term Deposit

Fixed Income Bank Bills Or Securities

Fixed Income – Non-Government (other than Private Debt)

 

 

Fixed Income Private Debt

Fixed Income Private Debt

 

Fixed Income Other

Fixed Income Other

 


[1] For the purposes of this Reporting Standard, an RSE licensee’s ‘business operations’ includes all activities it conducts as an RSE licensee (including the activities of each RSE of which it is the licensee), and all other activities of the RSE licensee to the extent that they are relevant to, or may impact on, its activities as an RSE licensee. For the avoidance of doubt, if the RSE licensee is trustee of more than one RSE, defined benefit RSE or pooled superannuation trust (PST), the RSE licensee must separately provide the information required by this Reporting Standard for each RSE, defined benefit RSE or PST within its business operations. An RSE licensee that does not have any RSEs, defined benefit RSEs or PSTs within its business operations is not required to provide information under this Reporting Standard.

[2] Refer also to Prudential Standard SPS 310 Audit and Related Matters (SPS 310).

[3] Refer to Prudential Standard SPS 510 Governance.

[4] For the purposes of this Reporting Standard, ‘pooled superannuation trust’ has the meaning given in subsection 10(1) of the SIS Act, ‘small APRA fund’ means a superannuation entity that is a regulated superannuation fund, within the meaning of the SIS Act, which no more than six members and ‘single member approved deposit fund’ means a superannuation entity that is an approved deposit fund, within the meaning of the SIS Act, which has only one member.

[5] Subsection 13(4B) of the Financial Sector (Collection of Data) Act 2001 means that a contract between the RSE licensee or a person connected with the RSE licensee such as a related body corporate or relevant custodian (the first party), and a person connected with the RSE licensee (the second party), under which assets or assets derived from assets of the registrable superannuation entity are invested, is taken to include (1) a term requiring the first party to notify the second party that the assets are or are derived from a registrable superannuation entity, and (2) a term requiring the second party, if so notified, to provide the information required by this reporting standard of which they are aware.

[6] For example, if an RSE licensee invests in a managed investment scheme, the responsible entity of which is not a related body corporate of the RSE licensee, the responsible entity is still a person connected with the RSE licensee, under paragraph (c) of the definition of that term.  If the managed investment scheme in turn invests in a private equity vehicle, the trustee of which is not in any way related to the RSE licensee, the trustee of the private equity vehicle is not a person connected with the RSE licensee. If the private equity vehicle has invested exclusively in shares, the shares will be the ultimate investment.  The most proximate investment of a person connected with the RSE licensee will be the managed investment scheme’s investment in the private equity vehicle. Accordingly, the managed investment scheme’s investment in the private equity vehicle must be reported.