Document ID: chunk:federal_register_of_legislation:F2021L00306:body:0:p5
Version: federal_register_of_legislation:F2021L00306
Segment Type: other
Provision Reference: 
Character Range: 12283–15152

(i.e. on a domestic books basis), including fees charged to residents and non-residents.  Accordingly, fees charged by entities outside the scope of domestic books – such as funds management or insurance operations – are to be excluded from the data reported.

Exclude fees charged to related parties.

Fees charged

This form does not follow Australian Accounting Standards for the treatment of fees.

All fees charged by the ADI (except those explicitly excluded below) must be reported in this form. 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 afforded to the customer. Do not deduct any expenses incurred by the ADI, 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 ADI's group treasury to various business units.

Reporting by purpose

Classify finance at the lowest level at which it is able to be identified; the purpose that the funds will be used for determines where it is reported on this form. Where finance (identified at the lowest available level) is to be used for more than one purpose, classify that finance to its predominant purpose (based on the purpose for which the largest share of the funds will be used).

Values

Report monetary amounts on ARF 730.1 in Australian dollars or the Australian dollar equivalent of the foreign currency amount. Convert amounts denominated in foreign currency to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates (AASB 121).

Report values on ARF 730.1 as whole dollars.

Standard Business Reporting (SBR)

Report items on ARF 730.1 with accounting type of debit (assets). The accounting type (i.e. credit or debit) applies to all monetary items and represents the natural accounting type of the item collected.

Specific instructions

Terms highlighted in bold italics are defined in Reporting Standard ARS 701.0 ABS/RBA Definitions for the EFS Collection (ARS 701.0).

All derived fields in the form are shaded in grey and are explained in words as a mathematical expression in these instructions.

Examples included under 'Include' and 'Exclude' must not be taken as an exhaustive list of items to be included or excluded.

     1. Fees charged on deposit accounts

Item 1 collects information on fees charged on deposit accounts by counterparty and type of deposit fee.

Include all fees associated with deposit accounts, including fees on offset accounts.

Column 1  Report the value of account servicing fees charged.

Column 2  Report the value of transaction fees charged.

Column 3  Report the value of other