Financial Sector (Collection of Data) (reporting standard) determination No. 13 of 2026

law://au/li/2026/f2026l01471@2026-11-12

Contents

Financial Sector (Collection of Data) (reporting standard) determination No. 13 of 2026Reporting Standard LRS 114.2 Derivatives ActivityFinancial Sector (Collection of Data) Act 2001I, Andrew Robertson, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) and subsection 33(3) of the Acts Interpretation Act 1901:revoke Financial Sector (Collection of Data) (reporting standard) determination No. 27 of 2023, including Reporting Standard LRS 114.2 Derivatives Activity made under that determination; anddetermine Reporting Standard LRS 114.2 Derivatives Activity, in the form set out in the Schedule, which applies to the 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 LRS 114.2 Derivatives Activity shall begin to apply to those financial sector entities, and the revoked reporting standard shall cease to apply, at the start of the day after this instrument is registered on the Federal Register of Legislation.This instrument commences at the start of the day after it is registered on the Federal Register of Legislation.Dated: 27 October 2026Andrew RobertsonGeneral Manager - Chief Data OfficerData, Technology and Security DivisionInterpretationIn this Determination:APRA means the Australian Prudential Regulation Authority.Federal Register of Legislation means the register established 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 LRS 114.2 Derivatives Activity comprises the document commencing on the following page.

Reporting Standard LRS 114.2 #

Derivatives Activity #

Objective of this Reporting Standard #

This Reporting Standard sets out the requirements for the provision of information to APRA relating to a life company’s derivatives activity.It includes associated specific instructions and must be read in conjunction with Reporting Standard LRS 001 Reporting Requirements (LRS 001), the Life Insurance General Instruction Guide and Prudential Standard LPS 114 Capital Adequacy: Asset Risk Charge.AuthorityThis Reporting Standard is made under subsection 13 of the Financial Sector (Collection of Data) Act 2001.PurposeThe information reported to APRA under this Reporting Standard is used by APRA for the purpose of prudential supervision including assessing compliance with capital adequacy standards.Application and commencementThis Reporting Standard applies to all life insurance companies including friendly societies (together referred to as ‘life companies’) registered under the Life Insurance Act 1995 (Life Act). This Reporting Standard applies for reporting periods ending on or after 31 December 2026.Information requiredA life company must provide APRA with the information required by this Reporting Standard for each reporting period.The information reported to APRA under this Reporting Standard is not required to be given to policy owners pursuant to section 124 of the Life Act. It does not constitute a reporting document for the purposes of section 124.Method of submissionin electronic format using an electronic method available on APRA’s website; orby a method notified by APRA prior to submission.Reporting periods and due datesin respect of each quarter based on the financial year of the life company on an unaudited basis; andin respect of each financial year of the life company on an audited basis.Note 1: This means that information provided under this Reporting Standard will be submitted five times for a full financial year.Note 2: The annual audited information provided under this Reporting Standard must be submitted in conjunction with the annual auditor’s report, as required under Prudential Standard LPS 310 Audit and Related Matters (LPS 310).If, having regard to the particular circumstances of a life company, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by subparagraph 7(a) or 7(b), APRA may, by notice in writing, change the reporting periods, or specify reporting periods, for the particular life company.in the case of quarterly information, within 20 business days after the end of the reporting period to which the information relates;in the case of annual information, within three months after the end of the reporting period to which the information relates; orin the case of information provided in accordance with paragraph 8, within the time specified by notice in writing.APRA may, in writing, grant a life company an extension of a due date, in which case the new due date will be the date on the notice of extension.Note: For the avoidance of doubt, if the due date for a particular reporting period falls on a day other than a usual business day, a life company is nonetheless required to submit the information required no later than the due date.Quality controlan annual basis or more frequently if necessary to enable the Auditor to form an opinion on the reliability and accuracy of data; andat least a limited assurance engagement consistent with professional standards and guidance notes issued by the Auditing and Assurance Standards Board (AUASB) as may be amended from time to time, to the extent that they are not inconsistent with the requirements of LPS 310.All information provided by a life company under this Reporting Standard must be subject to systems, processes and controls developed by the life company for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the life company to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.Actuarial valuations and calculations included in or used in the preparation of the information provided to APRA must be in accordance with the prudential standards in force for the reporting period. However, life companies may use reasonable estimates when preparing information that will not be audited (i.e. for the first four submissions of information for a full financial year).AuthorisationWhen an officer of a life company 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.the Principal Executive Officer of the life company; orthe Chief Financial Officer of the life company.

Variations #

APRA may, by written notice to the life company, vary the reporting requirements of this Reporting Standard in relation to that life company.TransitionA life company must report under the old reporting standard in respect of a transitional reporting period. For these purposes:old reporting standard means the reporting standard revoked in the determination making this Reporting Standard; andtransitional reporting period means a reporting period under the old reporting standard:which ended before 31 December 2026; andin relation to which the life company was required, under the old reporting standard, to report by a date on or after the date of revocation of the old reporting standard.Note: For the avoidance of doubt, if a life company was required to report under an old reporting standard, and the reporting documents were due before the date of revocation of the old reporting standard, the life company is still required to provide any overdue reporting documents in accordance with the old reporting standard.InterpretationIn this Reporting Standard:unless the contrary intention appears, words and expressions have the meanings given to them in Prudential Standard CPS 001 Definitions (CPS 001); andthe following definitions are applicable:Auditor means an auditor appointed under section 83 of the Life Act.capital adequacy standards means the prudential standards which relate to capital adequacy as defined in CPS 001.Chief Financial Officer means the chief financial officer of the life company, by whatever name called.financial year has the meaning in the Corporations Act 2001.general instruction guide refers to the general instruction guide set out in Attachment A of LRS 001.Life Act means the Life Insurance Act 1995.Principal Executive Officer means the principal executive officer of the life company, by whatever name called, and whether or not he or she is a member of the governing board of the entity.reporting period means a reporting period under subparagraph 7(a) or 7(b) or, if applicable, paragraph 8.Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.

Reporting Standard LRS 114.2 #

Derivatives Activity #

General instructions #

Reporting tables #

Tables described in this reporting standard 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.Any specific combination of values in a table must not appear on more than one row in that table when reported.

Definitions #

Terms highlighted in bold italics indicate that the definition is provided in these instructions.AAssociates / joint venturesThis refers to all associates and/ or joint ventures, where:Associate means an associate as defined under Australian Accounting Standard AASB 128 Investments in Associates and Joint Ventures.A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. For the purposes of this form, a joint operation defined under Australian Accounting Standard AASB 11 Joint Arrangements is to be treated as a joint venture.BBought option positions | A bought option includes both put and call options that have been purchased by an entity. It provides the purchasing entity with the right, but not the obligation, to buy or sell a specific amount of an underlying asset at a pre-agreed price, on or before a specific future date.Benefit Fund | Means an approved benefit fund as defined in CPS 001.CCredit derivatives - bought protectionThis refers to credit derivatives that have been purchased by the life company.Credit derivatives enable users to transfer the credit risk of an underlying asset from one party, the protection buyer, to another, the protection seller, in isolation from other risks.Credit derivatives - sold protectionThis refers to credit derivatives that have been sold, or written, by the life company.Credit derivatives enable users to transfer the credit risk of an underlying asset from one party, the protection buyer, to another, the protection seller, in isolation from other risks.EEquity contractsAll open equity derivative contracts, whereby the contracts involve the transfer of equity risks on underlying equity security from one party to another.Include:swaps;forwards;futures; andpurchased options/warrants.Exchange-Traded Derivatives | Derivatives traded on recognised exchanges.Exchange type | Refers to the type of derivative according to its trading venue. Exchange types are: Exchange-traded derivatives Over-the-counter derivativesExposure type | Refers to the type of derivative according to the underlying risk exposure. Exposure types are: Interest rate contracts; Foreign exchange contracts; Equity contracts; Precious metal contracts (excluding gold); Other derivative contracts.FFair value | Fair value is the amount which could be expected to be received from the disposal of an asset in an orderly market; or in an arm's length transaction between knowledgeable, willing parties; after deducting costs expected to be incurred in realising the proceeds of such a disposal.Foreign exchange contractsAll open foreign exchange derivative contracts, whereby the contracts involve the transfer of foreign exchange risks on underlying foreign exchange currencies from one party to another.Include:cross currency swaps;forward foreign exchange contracts;currency futures;currency options purchased;hedge contracts; andgold contracts.Outstanding spot transactions should be treated as forward foreign exchange contracts.Forwards | Forwards are agreements to exchange a predetermined amount of an underlying asset financial instrument at a specified future date and at a predetermined price.IInterest rate contractsAll open interest rate derivative contracts, whereby the contracts involves the transfer of interest rate risks on underlying interest-bearing instruments from one party to another.Include:single currency interest rate swaps;basis swaps;forward rate agreements;interest rate futures; andinterest rate options purchased.LLife company fund | This means the type of life company fund. Possible types are:statutory fund; benefit fund.OOther (Over-The-Counter Derivatives)All other over-the-counter derivative financial instruments that have not been categorised elsewhere.Other derivative contracts | All other open derivative contracts which are not separately reported as an exposure type. This includes:credit derivatives;commodity derivatives; andany contracts covering other items, that give rise to credit risk.Other related parties | Means any counterparty that is a deemed a related party in accordance with AASB 124 Related Party Disclosures, which is not separately reported as a related party type.Over-The-Counter Derivatives | Derivative instruments that are not traded on recognised exchanges.Over-The-Counter Derivative Contract type | Refers to the type of over-the-counter derivative financial instrument. Over-The-Counter Derivative Contract types are: ForwardsSwapsBought option positionsWritten option positionsCredit derivatives - bought protectionCredit derivatives - sold protectionOtherPParent | Means an entity that controls one or more entities.Precious metal contracts (excluding gold) | All open precious metal derivative contracts (excluding gold), whereby the contracts involve the transfer of asset pricing risks on the underlying precious metal assets from one party to another.Principal amount | The principal amount reported is the absolute principal amount. That is, the amount must be reported as a positive value, even for short positions in derivative financial instruments.RRelated party type | The type of counterparty involved in the derivative contract. Related party types are: parent; subsidiaries; associates / joint ventures; and other related parties.SSubsidiaries | This refers to all subsidiaries, where a subsidiary has the same meaning as is defined in the Corporations Act 2001.Swaps | Swaps are financial instruments representing a transaction in which two parties agree to swap or exchange some obligation, generally a series of cash flows, on differing terms.WWritten option positions | A sold, or written, option includes both put and call options that have been sold by an entity. It obliges the selling entity to buy or sell a specific amount of equity securities at a pre-agreed price, on or before a specific future date.Specific InstructionsTable 1: Derivatives ActivityReporting basisThis table applies to life companies including friendly societies. This table applies to statutory and benefit funds.Units of measurementUnless otherwise stated, report the values in this table in whole Australian dollars.Name | Valid values | Description1 | Life Company Fund Type | Statutory fundBenefit fund | Report life company fund.2 | Life Company Fund Name | Free text | Report the name of the life company fund.3Related Party TypeParent SubsidiariesAssociates /Joint venturesOther related partiesNot applicableReport the appropriate related party type.Report ‘Not applicable’ if the derivative counterparty is not a related party as defined under AASB 124 Related Party Disclosures.4 | Derivative Exposure Type | Interest Rate ContractsForeign Exchange ContractsEquity ContractsPrecious metal contracts (excluding gold)Other Derivative Contracts | Report the appropriate exposure type.5 | Derivative Exchange Type | Exchange-Traded Derivatives Over-The-Counter Derivatives | Report the appropriate exchange type.6 | Over-The-Counter Derivative Contract Type | ForwardsSwapsBought option positionsWritten option positionsCredit derivatives - bought protectionCredit derivatives - sold protectionOtherNot applicable | Report the appropriate over-the-counter derivative contract type.7 | Principal Amount | Whole dollars | Report the principal amount.8 | Fair Value | Whole dollars | Report the fair value.

Sourced from the Federal Register of Legislation at legislation.gov.au, © Commonwealth of Australia, licensed under CC BY 4.0. Compilations may have been reformatted.

Financial Sector (Collection of Data) (reporting standard) determination No. 13 of 2026

Financial Sector (Collection of Data) (reporting standard) determination No. 13 of 2026

Reporting Standard LRS 114.2 #

Derivatives Activity #

Objective of this Reporting Standard #

Variations #

Reporting Standard LRS 114.2 #

Derivatives Activity #

General instructions #

Reporting tables #

Definitions #

Key facts

History · 1 version

Reporting Standard LRS 114.2 #

Derivatives Activity #

Objective of this Reporting Standard #

Variations #

Reporting Standard LRS 114.2 #

Derivatives Activity #

General instructions #

Reporting tables #

Definitions #