The Australian Prudential Regulation Authority (APRA) has updated its technical FAQs for ADIs relating to the implementation of the Financial Claims Scheme (FCS) requirements contained in APS 910.

New topics include:

• If a trust has more than one trustee, should ADIs apportion the account entitlement across each trustee?
• How are fees, charges and duties treated?
• Liability of indirect ADI participants in the clearing and settlement systems (also known as Tier 2 ADIs) for sending payment instruction information directly to the RBA.