Web Sites
Principles of Reciprocity & Data Exchange (‘PRDE’) – https://www.arca.asn.au/prde – This website provides details on the PRDE, including its purpose, obligations and how to participate in the PRDE system.
PRDE Fee Schedules – https://www.arca.asn.au/independent-review-2024-prde-fee-schedules – The current PRDE fee schedules for signatories are on this website.
Australian Retail Credit Association (‘Arca’) – www.arca.asn.au – The PRDE is managed by the RDEA (Reciprocity & Data Exchange Administrator), a subsidiary of Arca. Arca is an industry association focused on improving the use, visibility, accessibility and understanding of credit reporting and consumer data.
Credit Smart – https://www.creditsmart.org.au/ – CreditSmart is an information website, owned by Arca, to help consumers understand how credit reporting operates in Australia.
Review of Australia’s Credit Reporting Framework – https://www.ag.gov.au/rights-and-protections/privacy/review-australias-credit-reporting-framework – The website of the Australian government’s current independent statutory review of the Privacy Act and Mandatory Comprehensive Credit Reporting (‘CCR’) legislation (which may consider issues that overlap with the PRDE review).
Report to the Review of Australia’s Credit Reporting Framework – https://www.ag.gov.au/rights-and-protections/publications/review-australias-credit-reporting-framework-final-report – The final report of the above independent review of Australia’s credit reporting system.
cameron. ralph. khoury – https://crkhoury.com.au/ – Website of the independent reviewer appointed by Arca for the 2024 PRDE review.
Documents to download
Independent Review of the Principles of Reciprocity and Data Exchange Reciprocity and Data Exchange Authority: DRAFT Report for Comment – issued by the Independent Reviewer Phil Khoury in November 2024.
Independent Review of the Principles of Reciprocity and Data Exchange (PRDE): Issues Paper – Published by the Independent Reviewer Phil Khoury in July 2024 to act as an initial prompt for consultation with and input from stakeholders.
RDEA detailed briefing paper and preliminary thoughts – This document from RDEA sets out some of the background to the PRDE, potential issues and preliminary thoughts on how the PRDE may be changed to improve its operation.
Principles of Reciprocity and Data Exchange (Arca) – The PRDE is a set of industry-developed data exchange rules that underpin comprehensive credit reporting in Australia.
Terms of Reference – 2024 PRDE Independent Review (Arca) – Establishes the requirements and objectives of the current PRDE independent review.
Credit Data Fact Base Report – Sep 2022 (Arca) – This report provides the latest information on industry participation in CCR.
PRDE Fee Schedule 24/25 – Credit Providers (RDEA) – PRDE fee schedule for financial year 2024/25 published by the Reciprocity & Data Exchange Administrator (‘RDEA’).
PRDE Fee Schedule 24/25 – Credit Reporting Bodies (RDEA) – PRDE fee schedule for financial year 2024/25 published by (‘RDEA’).
Documents available on request
Further detailed information is provided in the documents listed below. If you require access to any of these to assist with your participation in the PRDE Independent Review, please contact the reviewer directly.
The documents listed below are produced by the RDEA and are designed to support signatories in the management of their PRDE obligations.
Formal Guidance (Contribution of Default information) – The RDEA has provided formal guidance, in consultation with signatories, on the default contribution obligations under the PRDE, specifically in relation to the contribution of default information within a reasonable timeframe of the account becoming overdue. Under the guidance, the general expectation for default listing for unsecured credit is no later than 180 days past due i.e. the point at which unsecured debt is typically charged off. The general expectation for default listing for real property mortgages is no later than the initiation of legal proceedings.
Debt Buyers Information Sheet – This describes how a debt buyer may participate as a signatory under the PRDE.
Complex Lending Information Sheet – This describes how credit providers with more complex lending structures (i.e. for securitisation or other funding purposes) may participate as a signatory under the PRDE.
Compliance Process Flows – Flow diagrams of the early stages on the PRDE compliance process for signatories.
Compliance Forms – These are used by signatories when reporting non-compliant conduct (under Principle 5), including the self-report form and rectification plan.
RDEA Compliance Powers – Guidance on the RDEA’s approach to its compliance powers under the PRDE (paragraphs 98A and 107).
Annual Attestation – The attestation document (PRDE paragraph 93f) sent to signatories annually, requiring signatories to attest to their compliance with the PRDE and provide relevant supporting information.
Australian Credit Reporting Data Standards (‘ACRDS’) publication timeframes – Details of the timeframes for publication and retirement of ACRDS versions.
ACRDS principles – The principles for development, management and maintenance of the ACRDS.