RBA Securitisations Industry Forum

The Reserve Bank's contractual undertakings regarding confidentiality are included in the Securitisation System User Agreement, which is an agreement entered into between the Reserve Bank and each Information Provider.

In summary, the Reserve Bank undertakes to:

• take all proper precautions to preserve the confidentiality of the information provided (subject to certain limited rights of disclosure);
• not take steps, including by combining the information with other data, to identify the identity of any individual to whom the information relates; and
• securely and promptly destroy any information to the extent that it relates to identified individuals, following the Reserve Bank becoming aware that individuals are identified.

For more information regarding the Securitisation System User Agreement, see the Reporting Guidelines.

The Securitisation System User Agreement is an agreement between the Reserve Bank and each Information Provider that is entered into via the Securitisation System (which also takes effect as an agreement between the Reserve Bank and each natural person that uses the Securitisation System on behalf of an Information Provider). The Agreement includes undertakings by the Reserve Bank regarding the confidentiality of the information provided via the Securitisation System. It also includes undertakings by the Information Provider regarding privacy and data quality.

For more information regarding the Securitisation System User Agreement, see the Reporting Guidelines.

The Reserve Bank may use the information provided via the Securitisation System to perform any of its functions or exercise any of its powers under the Reserve Bank Act 1959 (Cth), including for pricing securities, risk management and analysis.

The information will only be made available to a limited number of authorised individuals within the Reserve Bank, on a need-to-know basis. Any subscription databases to which the RBA subscribes and which could be used to attempt to link loan level data to an identified individual will not be made available by the Reserve Bank to the authorised individuals within the Reserve Bank who have access to the loan level data.

The staff of the Reserve Bank are subject to a broad range of obligations when dealing with confidential information. The Code of Conduct for Reserve Bank Staff (which is binding on all Reserve Bank employees and other individuals that occupy a position within the organisational structure of the Reserve Bank) requires Reserve Bank employees not to use any confidential information which they obtain in the course of their employment with the Reserve Bank for any purpose other than in the proper course of their work for the RBA and, where it is specifically protected by legislation or the terms of a contract with a third party, other than in accordance with the relevant legislation or contract.

The Reserve Bank respects the privacy of the individuals who interact with it or whose personal information it collects indirectly, and is committed to protecting the privacy of those individuals. Key information about the Reserve Bank's approach to privacy is set out in the Reserve Bank's Privacy Policy, which is published on the Reserve Bank website.

The circumstances under which the Reserve Bank may disclose the information are listed in the Securitisation System User Agreement, which is an agreement entered into between the Reserve Bank and each Information Provider.

In summary, the Reserve Bank may disclose the information:

• if it is ordered to do so by a court of competent jurisdiction or as otherwise required by law;
• to its professional advisers or contractors on the basis that the information provided to them is subject to corresponding confidentiality obligations to the Reserve Bank;
• to the responsible Minister or in response to a request by the Parliament of Australia or the Australian National Audit Office; or
• in published statistics or analysis, provided that this does not disclose information about any identifiable individual or entity.

For more information regarding the Securitisation System User Agreement, see the Reporting Guidelines.