The Australian Prudential Regulation Authority (“APRA”) has today released a response paper and draft prudential standard for a third round of consultation on the implementation of the Financial Claims Scheme (“FCS”) for authorised deposit-taking institutions (“ADI”). The key changes include: (i) removing the need for ADIs to submit FCS-related data to APRA on a regular basis for testing and other purposes. ADIs will still need to maintain the systems and data for testing purposes to ensure that the data are readily accessible in a failure situation; (ii) allowing ADIs to use data matching as the basis for their ‘Single Customer View’; and (iii) increasing the transition period on commencement of the standard to two years for all ADIs.