Document ID: chunk:federal_register_of_legislation:F2022L01348:body:0:p9
Version: federal_register_of_legislation:F2022L01348
Segment Type: other
Provision Reference: 
Character Range: 22099–25065

Facilities with greater than 5 day draw down

Report the value of the standby facilities that are only able to be drawn down (funds accessed) more than five days after notice is given by the reporting insurer of its intention to draw down on the standby facility.

    2.             Bill acceptance and discount facilities

Report the value, as at the relevant date, of bill acceptance and discount facilities provided to the reporting insurer. Bill acceptance and discount facilities are a form of liquidity, or funding, provided to the reporting insurer through a facility that discounts bills (e.g. bank accepted bills). Principal and interest owing on the bill is repaid or 'rolled over' by the reporting insurer on maturity of the bill.

    3.             Letter of credit facilities

Report the value, as at the relevant date, of letter of credit facilities committed to by the reporting insurer. A letter of credit facility is an irrevocable and unconditional undertaking to repay the principal and interest of a loan in the event of default.

    4.             Overdrafts

Report the value, as at the relevant date, of overdraft facilities available to the reporting insurer. Overdraft facilities are accounts which may be overdrawn up to a limit agreed by the parties involved.

    5.             Other liquidity support facilities

This is a balancing item and is the value, as at the relevant date, of all other off-balance sheet liquidity support facilities.

It is automatically calculated as Item 6 less the sum of Items 1 to 4 in Section 2.

    6.             Total liquidity support facilities

This is the total, as at the relevant date, of liquidity support facilities contracted to the reporting insurer.

    7.             Total which are with related entities

Report the liquidity support facilities that are provided by related entities of the reporting insurer.

     7.1.               Parent entity

This refers to liquidity support facilities that are from the parent entity of the reporting insurer.

      7.1.1.             Controlled entities / controlled entities of parent

This refers to liquidity support facilities that are from a subsidiary of the reporting insurer, or another branch of the parent entity for a Category C insurer.

     7.2.               Joint ventures / Associates

This refers to liquidity support facilities that are from an associate or joint venture of the reporting insurer.

     7.3.               Other related parties

This refers to liquidity support facilities that are from a related party of the reporting insurer that is not the parent entity, a subsidiary, a related party of a director, an associate or a joint venture of the reporting insurer.

It is automatically calculated as Item 7 less the sum of Items 7.1, 7.1.1 and 7.2.

Section 3: Charges granted

    (1)         Type of charge / encumbrance

Report the type of charge granted against the assets