The RBA has updated the RMBS reporting guidance to align the definition of two
loan-level fields with those that will be implemented in the modernised Economic and
Financial Statistics (EFS) collection. As flagged in the announcement in October
2017, the two fields affected by the update are:
Property purpose. This field should be reported according to the usage of the
funds that have been borrowed, not the usage of the property posted as the main
security of the loan. Where there is doubt or ambiguity over whether a loan is for
an owner-occupied or investment property, information providers (IPs) should assume
that the property purpose is for an investment.
First home buyer flag. IPs may no longer rely on first home owner grant data to
populate this field (i.e. investor first home buyers and others not eligible for
first home owner grants must also be captured).
The full changes can be found under Change ID-56 in the updated RMBS reporting
guidance. IPs will be expected to adhere to the new definitions for all loans
originated from 1 March 2019 onwards, when ADIs and registered financial
institutions will commence reporting to APRA under the updated EFS requirements.
However, institutions are strongly encouraged to report all loans according to these
new definitions where feasible. Institutions may transition to the new definitions
prior to 1 March 2019 and should notify the RBA at
email@example.com if this occurs.
Submissions made prior to the change will not need to be revised.
For further information on the EFS reporting requirements see ‘Definitions standard
and guidance’ published on APRA's website
Other changes to the reporting guidance
The RBA has also made a number of other minor changes to the RMBS, CMBS
and OABS reporting guidance documents. These changes aim to provide
additional clarity on the RBA's expectations around the reporting of
certain fields in light of queries from IPs in recent times. There are
two changes that the RBA would like to draw IPs’ attention to:
Origination date settlement date. The RBA has removed the option of
reporting ‘No data’ code ND1 for this field. Issuers reporting this
value prior to 1 July 2018 will receive a warning. From 1 July 2018
onwards, use of this ND code will cause a submission to fail.
Utilisation of exemption from reporting income data for loans
originated prior to 1 January 2010. IPs utilising this exemption should
report ND1 for the affected loans, not ND5. IPs that continue to report
ND5 in these circumstances will receive warnings for rule LN0066(ND5).
It is expected that this rule will switch to a fail severity (with a
small tolerance) at some point in the future.
Below are the updated reporting guidance documents:
Consolidated RMBS guidance
Consolidated CMBS guidance
Consolidated Other ABS
Please contact the Securitisation Support Centre at
or 1800 919 211 to seek further clarification.