Document ID: chunk:federal_register_of_legislation:F2024L00434:body:0:p50
Version: federal_register_of_legislation:F2024L00434
Segment Type: other
Provision Reference: 
Character Range: 184566–188284

accommodation and entertainment expenses   Travel expenses are costs incurred for transportation services relating to business activities that occur away from the normal place of business. These costs are only to be included if they are incurred in connection with business activities.

                                                   Accommodation expenses are those costs incurred in providing accommodation to staff when business activities occur away from the normal place of business.

                                                   Entertainment expenses are the costs incurred by a business for the provision of entertainment activities.

Tri-party agent (tri-party)                        Means custodian banks to which collateral selection, payment and settlement, custody and management during a repurchase agreement is outsourced.

Turnover                                           Means the value of total sales made by a business during the most recent year. Calculate this using the values that the borrower reports to the Australian Taxation Office through Business Activity Statements.

U

Unallocated gold                          Means an account that does not give the holder the title to physical gold but provides a claim against the account operator to deliver gold.

Unearned interest                         Refers to interest received in advance but not yet earned. For example, on a fixed-interest rate loan portfolio.

Unique transaction identification number  Means any combination of letters and/or numbers assigned by the ADI or RFC that uniquely identifies the repo, reverse repo, securities lending transaction or securities borrowing transaction.

Unsecured (finance)                       Means finance that is not secured.

Utility expense                           Refers to expenses incurred related to utilities.

                                          It includes:

                                               * water rates and any excess water charges; and
                                               * electricity and gas charges.

V

Valuables                Means assets acquired as stores of value that do not deteriorate in value over time and are not used in a production process.

Value of funds           Means the institution's internal funds transfer pricing rate for a liability. The price is established by the institution's treasury area and 'credited' to the relevant business area.

                         This includes:

                              * liquidity, term, cash, interest rate, prepayment, optionality, and basis risks; and
                              * strategic pricing, regulatory cost (excluding capital costs), cross-subsidisation and liquidity mismatch.

                         Where there are multiple values of funds within a line item, report the weighted average of these amounts.

Variable interest rate   Means an interest rate that fluctuates over the term, or life, of the agreement. Fluctuations in interest rates generally occur at the discretion of the lender and/or in response to movements in some other interest rate or other variable specified in the contract. These fluctuations in interest rates may result in changes to required payments or length of the agreement.

W

Wages and salaries                                   Refers to gross earnings of employees before taxation and other deductions.

                                                     Report wages and salaries as recorded in the ADI's and RFC's financial or management accounts, including provisions for employee entitlements (i.e. on an accruals basis).

                                                     It includes: