The Australian Prudential Regulation Authority (APRA) is aiming to release a consultation on new reporting requirements for covered bonds in early 2014, it announced yesterday (Wednesday) in its annual regulatory plan.

The consultation on new reporting requirements will form part of a second consultation package on securitisation regulation Prudential Standard APS 120 that APRA aims to release subject to feedback on a discussion paper on the standard in the second half of this year.

The consultation package would include a revised draft APS 120, revised reporting requirements for securitisation, and the new reporting requirements for covered bonds.

The Australian financial institutions industry has been anticipating a rewrite of APS 120, which could render securitisation more attractive, in particular for smaller issuers.