Document ID: chunk:federal_register_of_legislation:F2024L00434:body:0:p29
Version: federal_register_of_legislation:F2024L00434
Segment Type: other
Provision Reference: 
Character Range: 106862–111178

is disproportionately large relative to the recent level of normal dividends paid.

F

(Lending) Facility                 Refers to one or more accounts/lending agreements that:

                                        * are for the same borrower(s);
                                        * are approved at the same point in time and/or as part of the same application;
                                        * are for the same purpose class (and property purpose if housing); and
                                        * differ only by characteristics relating to interest rate type (fixed interest rate or variable interest rate) and/or repayment type (interest-only or amortising).

                                   The accounts comprising a lending facility may or may not be linked.

                                   If one of the accounts/lending agreements that forms part of a lending facility is refinanced, then that newly refinanced account/lending agreement remains part of the lending facility.

Fee and commission income/expense  Refers to any income/expense earned/incurred for fees and commissions.

                                   It includes:

                                        * credit card fees;
                                        * lending fees;
                                        * transaction/deposit account service fees;
                                        * professional fees incurred in employing the services of outside professionals (e.g. legal expenses, audit and other accounting services expense);
                                        * subscription and membership fees;
                                        * payments to other businesses and self-employed persons for work done or sales made on a commission basis;
                                        * payments to persons paid by commission without a retainer;
                                        * fees for servicing a loan;
                                        * investment management fees;
                                        * loan syndication fees; and
                                        * underwriting fees.

                                   It excludes:

                                        * fees and commissions already captured as interest income/expense;
                                        * directors' fees;
                                        * retainers and commissions of persons who received a retainer; and
                                        * bonuses.

Fees charged                       Means the amounts charged by the ADI to its customers excluding those relating to interest charges (where interest is defined in terms of the contractual interest rate). This includes fees (such as establishment fees) that are recorded as interest income in statutory accounts.

                                   Report fees charged on an accruals basis.

                                   Report fees charged net of any waivers, exemptions or rebates.

                                   Do not deduct any expenses, including expenses relating to:

                                        * commissions paid to mortgage brokers;
                                        * valuation fees for housing and business loans;
                                        * loyalty program costs;
                                        * government taxes; and
                                        * charges imposed by the bank's group treasury to various business units.

                                   Only report fees charged for operations/transactions related to the ADI's domestic books.

Finance lease                      Has the meaning as in AASB 16 Leases (AASB 16).

                                   In general, means a lease that transfers substantially all the risks and rewards incidental to the ownership of the asset.  Title may or may not eventually be transferred.

First-home buyer                   Means a borrower entering the home ownership market for the first time, whether or not they are purchasing a dwelling for owner-occupied or investment purposes.

                                   This includes all borrowers entering the home ownership market for the first time, regardless of whether or not they have received