12.3 Disclosure frequency, locations and omissions

Frequency

(1) The disclosures set out in this Chapter must be made by the Bank at least once a year, other than disclosures of CET1 Capital, T1 Capital and T2 Capital, deductions from Capital Resources, Liquidity Coverage Ratio and Leverage Ratios which must be made on a quarterly basis.

(2) Reporting deadlines must be in accordance with quarterly and annual reporting obligations under Chapter 3 of BBR. Locations

(3) A Bank must, subject to (2), make these disclosures either in its annual report or periodic financial statements.

(4) A Bank may disclose the items marked as quantitative in Chapter 12 of the BPG in a medium or location other than its annual report or periodic financial statements, provided that:

• (a) it has prior approval of the AFSA to do so;
• (b) the annual report or periodic financial statements contain clear references to the location of such disclosures; and
• (c) such disclosures are readily accessible by the market. Omissions

(5) A Bank may omit certain disclosures if the omitted item is:

• (a) not material, in accordance with the concept of materiality under the International Financial Reporting Standards,
• (b) proprietary in nature, and the disclosure of the relevant information to the public would undermine the Bank’s competitive position or render the Bank’s investments in products and systems less valuable, or
• (c) confidential in nature, and the disclosure of the relevant information would violate or jeopardise confidentiality agreements with Clients or Counterparties.

(6) Where in reliance upon (5)(b) or (c) above, a Bank omits an item that is marked as a quantitative disclosure in Chapter 12 of the BPG, it must disclose general qualitative information about the subject matter of that particular requirement, together with the reasons for the omission.