Document ID: chunk:federal_register_of_legislation:F2023L00624:reg:28:p1
Version: federal_register_of_legislation:F2023L00624
Segment Type: reg
Provision Reference: reg 28 (pt 1/2)
Character Range: 59838–63505

28  Asset Identifier To Which Risk Mitigant Asset Relates                                                     Whole number from 1 onwards                                   Report asset identifier to which risk mitigant asset relates number.

                                                                                                                                                                            This item only applies when exposure category is:

                                                                                                                                                                                * Eligible collateral item
                                                                                                                                                                                * Exposure to guarantor; or
                                                                                                                                                                                * Other

Table 3: Large Non-reinsurance Exposures And Related Risk Mitigants

Reporting basis

This table applies to life companies including friendly societies. This table applies to non-investment linked statutory, shareholder, non-investment linked benefit and management funds.

This table applies to large non-reinsurance exposures and related risk mitigant assets (e.g. eligible collateral items and exposures to guarantors that are recognised in place of an underlying non-reinsurance exposure). Life companies must report the underlying non-reinsurance exposure and each risk mitigant asset item on a separate line. For example, if a life company has a legally enforceable security interest over two eligible collateral items held as collateral against a non-reinsurance asset, the two eligible collateral items would be reported on separate lines. The underlying non-reinsurance asset would be reported on a third line.

If a look-through basis has been used for assets under LPS 114, the same look-through basis must be used for reporting exposures in this table.

As per paragraph 23 of LPS 117, where the fund has a significant cumulative exposure through different classes of assets (across both reinsurance and non-reinsurance assets) to a single counterparty or related counterparties, the limit for that counterparty in respect of any particular asset class must be reduced by the lesser of the actual exposure or the exposure limit to that same counterparty in respect of all asset classes with lower limits in Attachment A of LPS 117.

Report all information as at the reporting date.

Reporting threshold

This table is to be completed both on a quarterly and an annual basis for each non-reinsurance exposure to an asset, a counterparty or a group of counterparties where the fair value of the exposure, after adjusting for derivatives, is greater than one per cent of the fund's VAF for non-reinsurance assets.

This table is to be completed both on a quarterly and an annual basis for each eligible collateral item that is being recognised in place of an underlying non-reinsurance asset where the fair value of the eligible collateral item, after adjusting for derivatives, is greater than one per cent of the fund's VAF for non-reinsurance assets.

This table is to be completed both on a quarterly and an annual basis for each exposure to a guarantor or issuer of a letter of credit that is being recognised in place of an underlying non-reinsurance asset regardless of the size of the guarantee exposure.

Units of measurement

Report the dollar values in this table in whole