Document ID: chunk:federal_register_of_legislation:F2024L00434:body:0:p5
Version: federal_register_of_legislation:F2024L00434
Segment Type: other
Provision Reference: 
Character Range: 12866–17148

institutional unit whose centre of predominant economic interest (principal place of residence or principal place of production) is outside Australia's economic territory.

(individual, enterprise or other organisation)  It includes:
                                                     * households whose principal place of residence is overseas; and
                                                     * foreign branches and foreign subsidiaries of Australian enterprises.
                                                It excludes: Australian-based branches and subsidiaries of foreign enterprises.
Resident (financial instrument)                 Means financial instruments (debt, equity or hybrids) that are issued by resident institutional units. Neither the place nor the currency of issuance are to be used to determine residency of a financial instrument.

                                                Derivative contracts are considered resident financial instruments if the counterparty is a resident institutional unit.

Non-resident                                    Means financial instruments (debt, equity or hybrids) that are issued by non-resident institutional units. Neither the place nor the currency of issuance are to be used to determine residency of a financial instrument.

(financial instrument)                          Derivative contracts are considered non-resident financial instruments if the counterparty is a non-resident institutional unit.

Sectoral classifications of institutional units

    13.         Key terms in the EFS collection relating to institutional units and sectoral classifications are defined as follows:

All other ADIs                                                    Means an ADI that is not a Building Society or a Credit Union

Authorised deposit-taking institutions (ADIs)                     Means an authorised deposit-taking institution within the meaning of the Banking Act 1959.

                                                                  It excludes:

                                                                       * the RBA. Report these under RBA; and
                                                                       * money market corporations.  Report these under registered financial corporations.

Building society                                                  Means a locally incorporated ADI that assumes or uses the expression 'building society' in relation to its banking business.

Central borrowing authorities                                     Means entities that primarily provide finance for public corporations and notional institutional units and other units owned or controlled by the government.  They arrange the investment of surplus funds.

                                                                  Central borrowing authorities raise funds predominantly by issuing securities.  They also engage in other intermediation activity for investment purposes, and may participate in the financial management activities of the parent government.

                                                                  It includes all central borrowing authorities established by state and territory governments.

Clearing houses and central counterparties                        Means all recognised clearing houses, such as the Australian Stock Exchange Clearing House and Sydney Futures Exchange Clearing House.

                                                                  Central counterparties (CCPs) are clearing houses that interpose themselves between counterparties to contracts traded in one or more financial markets, becoming the buyer to every seller and the seller to every buyer. A CCP becomes counterparty to trades with market participants through novation, an open offer system, or another legally binding arrangement.

                                                                  Central counterparties and clearing houses are financial auxiliaries.

Commonwealth general government                                   Means Australian Commonwealth Government departments and agencies whose principal function is to provide non-market goods and services, principally financed by taxes, for free or at a price well below the cost of