Document ID: chunk:federal_register_of_legislation:F2019L00828:body:0:p8
Version: federal_register_of_legislation:F2019L00828
Segment Type: other
Provision Reference: 
Character Range: 20640–23636

defined in accordance with AASB 127 and AASB 3.
Exclude from the accounting consolidated group special purpose vehicles (SPVs) whose assets have satisfied the clean sale requirements set out in Prudential Standard APS 120 Securitisation (APS 120) (refer to Securitisation Deconsolidation Principle below).

Securitisation deconsolidation principle
     1. Where an ADI (or a member of its Level 2 consolidated group) participates in a securitisation that meets APRA's operational requirements for regulatory capital relief under Prudential Standard APS 120 Securitisation (APS 120):
(a)          special purpose vehicles (SPVs) holding securitised assets may be treated as non-consolidated independent third parties for regulatory reporting purposes, irrespective of whether the SPVs (or their assets) are consolidated for accounting purposes; and
(b)          the assets, liabilities, revenues and expenses of the relevant SPVs may be excluded from the ADI's reported amounts in APRA's regulatory reporting returns.
2.             Where an ADI (or a member of its Level 2 consolidated group) participates in a securitisation that does not meet APRA's operational requirements for regulatory capital relief under APS 120, or the ADI undertakes a funding-only securitisation or synthetic securitisation, such assets are to be reported as on-balance sheet in APRA's regulatory reporting returns.

Reporting period and timeframe for lodgement
The form is to be completed as at the last day of each quarter based on the financial year (within the meaning of the Corporations Act 2001) of the ADI. ADIs must submit the completed form to APRA within 28 calendar days after the end of the relevant reporting quarter or by the date specified in a notice of extension granted by APRA.

Unit of measurement
ADIs are asked to complete the form in whole Australian dollars (no decimal place).
Amounts denominated in foreign currency are to be converted to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates (AASB 121).
The general requirements of AASB 121 for translation are:
     1. foreign currency monetary items outstanding at the reporting date must be translated at the spot rate at the reporting date;[1]
     2. foreign currency non-monetary items that are measured at historical cost in a foreign currency must be translated using the exchange rate at the date of the transaction;[2]
     3. foreign currency non-monetary items that are measured at fair value will be translated at the exchange rate at the date when fair value was determined.
Transactions arising under foreign currency derivative contracts at the reporting date must be prepared in accordance with AASB 9 Financial Instruments (AASB 9), AASB 7 Financial Instruments: Disclosures (AASB 7) and AASB 132 Financial Instruments: Presentation. However, those foreign currency derivatives that are not within the scope of AASB 9 (e.g. some foreign currency derivatives that are embedded in other contracts)