Dear Australian Prudential Regulation Authority,

When determining what asset classes qualify as high-quality liquid assets in Australia, APRA said in 2011 that it "has taken into account the amount of the instrument on issue, the degree to which the instrument is broadly or narrowly held, and the degree to which the instrument is traded in large, deep and active markets".

Can you please release documentation relating to the methodology used to make this determination, including for instance:
- Correspondence with banks and any other market participants (eg the ASX, trustees) around trading volume of assets in the open market.
- Other data available to APRA demonstrating that an asset class is or is not traded in "large, deep and active markets".
- Documentation available to APRA demonstrating "the degree to which the instrument is broadly or narrowly held".

Yours faithfully,

Laurence Davison