Document ID: chunk:federal_register_of_legislation:F2024L00434:body:0:p39
Version: federal_register_of_legislation:F2024L00434
Segment Type: other
Provision Reference: 
Character Range: 144733–148399

to, an SPV for the purposes of a securitisation, and have been derecognised from the domestic books balance sheet under Australian Accounting Standards.

                                                  Does not include any cover pool assets that have been transferred to an SPV for the purposes of being held in a covered bond collateral pool for covered bonds.

                                                  For an RFC that is not a related party of an ADI:

                                                  Not applicable.

Offices                                           Means any non-residential buildings (or parts of such buildings) where the primary purpose is for clerical or professional duties.

Offset accounts                                   Means where a borrower has a deposit account and a loan (usually a housing loan) with the same institution.  Instead of receiving interest on the deposit account, the interest payment due on the loan is calculated on the net balance of the loan (credit outstanding on the loan less any amount in the deposit account).
                                                  Offset accounts typically refers to the value in the deposit account.
                                                  For offset accounts, report the interest rate as the contractual rate payable on the linked loan account, multiplied by the proportion of the offset account balance that is offset against the loan balance. For instance, if the balance in the offset account is fully offset against the loan balance, then the interest rate on the offset account would be the interest rate reported on the loan account. However, if only half of the balance in the offset account is offset against the relevant loan balance, then report the interest rate on the offset account as half of the interest rate on the loan account.

On-balance sheet securitised (assets)             For an ADI or RFC that is a related party of an ADI:

                                                  Means assets that have been originated into, or transferred to, an SPV for the purposes of securitisation, but which have not been derecognised from the domestic books balance sheet under Australian Accounting Standards.

                                                  Includes all cover pool assets that have been transferred to an SPV for the purposes of being held in a covered bond collateral pool for covered bonds.

                                                  For an RFC that is not a related party of an ADI:

                                                  Means assets that have been originated into, or transferred to, an SPV for the purposes of securitisation.

Operating leases                                  Has the meaning in AASB 16.

                                                  In general, means a lease other than a finance lease.  It does not transfer substantially all the risks and rewards incidental to ownership.

Original (maturity/term)                          Means the contractual term to maturity at issuance.

Other deposit fees charged                        Means all fees charged on deposit accounts (including break fees and exception fees charged) other than account servicing fees charged and transaction fees charged.

                                                  It includes:

                                                       * break fees charged;
                                                       * exception fees charged;
                                                       * stopped payment fees;
                                                       * duplicate statement