The Basel Capital Accord principles took effect in Australia on 1 January 2008. The framework for the application is comprised of three pillars:
- Pillar 1: More sophisticated calculation of minimum capital requirements;
- Pillar 2: Institutions’ own assessments of their capital adequacy and enhanced supervision of capital management; and
- Pillar 3: Materially increased disclosure requirements
The Bank of Queensland Limited Group (“the Group”) commenced reporting its regulatory disclosures to APRA under the requirements of Pillar 1 from January 2008 using the Standardised approach. The Group has also implemented the Pillar 2 regime including documentation of its Internal Capital Adequacy Assessment Process (“ICAAP”) and increased management supervisory review and assessment.
The Pillar 3 requirements mandated by APRA prudential standard APS 330, ‘Capital Adequacy: Public Disclosure of Prudential Information’, have previously involved the disclosure of regulatory capital structure, capital adequacy and credit risk information. From 1 January 2013, the Group has prepared all capital disclosures in accordance with Basel III.
APRA issued a revised APS 330 ' Public Disclosure' in June 2013. Commencing from 31 August 2013 new disclosures will be provided for the Bank's capital adequacy and capital instruments, with remuneration disclosures to be presented from late 2013.
Bank of Queensland will be updating components of its Pillar 3 disclosures on a quarterly basis, with additional disclosures provided on a semi-annual basis in alignment with the Group’s annual and half year reporting periods. The Capital Instrument disclosures will be updated continuously throughout the year as changes to the instruments occur. The timing for the release of the new APS 330 Remuneration disclosures is within three months of the lodgement of the Bank's annual financial report.
APS 330 Capital Adequacy Disclosures
The Capital Adequacy disclosures required by APS 330 are presented here.
The disclosures include:
- Capital adequacy summary;
- Credit risk summary;
- Securitisation exposures;
- Capital adequacy common disclosure template; and
- Regulatory Balance Sheet.
APS 330 Capital Instrument Disclosures
The Capital Instrument disclosures required by APS 330 are presented here.
The disclosure includes:
- The main features of capital instruments template.
APS 330 Remuneration Disclosures
The Remuneration disclosures required by APS 330 are presented here.
The disclosure includes:
- The qualitative and quantitative features of remuneration.