Document ID: chunk:federal_register_of_legislation:F2022L00217:body:0:p8
Version: federal_register_of_legislation:F2022L00217
Segment Type: other
Provision Reference: 
Character Range: 23916–28178

homogenous and often approved and managed using statistical management techniques.  Portfolio managed exposures are often not subject to formal regular review other than in cases where payments are behind agreed repayment schedules or indebtedness is outside approved limits.

Private trading corporations              Private trading corporations are those owned and controlled by the private sector whose main activity is producing goods or non-financial services for sale.

                                          Include:

                                                 * all resident private corporate trading enterprises, and non-profit institutions that are market producers of goods or non-financial services;
                                                 * intra-group financiers (Financial Sector (Collection of Data) Act 2001 category I), retailers (Financial Sector (Collection of Data) Act 2001 category H) and parent companies with significant holdings of shares in private trading companies;
                                                 * privately owned schools and hospitals;
                                                 * any unincorporated unit that is a branch in Australia of a non-resident company and which is not included in the financial sector; and
                                                 * any unincorporated business owned and operated by trading corporations (e.g. joint ventures).

                                          Exclude:

                                                 * unincorporated businesses, except for branches of non-resident companies and joint ventures or partnerships owned by corporations; and
                                                 * non-resident enterprises.
Private unincorporated businesses         This comprises individuals acting as sole proprietors or in partnerships, for commercial or professional purposes. The major businesses to be included in this sub-sector are unincorporated farms, unincorporated retailers, unincorporated professional practices (medical, legal, dental, accounting, etc.), unincorporated businesses of tradesmen such as plumbers, carpenters, etc.

Registered financial corporations (RFCs)  Means corporations registered under the Financial Sector (Collection of Data) Act 2001 that are classified to Categories D through G and cash management trusts.

                                          Include:

                                                 * money market corporations (also referred to as merchant banks) (D);
                                                 * pastoral finance companies I;
                                                 * finance companies (F);
                                                 * general financiers (G); and
                                                 * cash management trusts.

                                          Exclude:

                                                 * intra group financiers and retailers registered under the Financial Sector (Collection of Data) Act 2001 Categories H and I (record as private trading corporations); and
                                                 * other financial corporations registered under the Financial Sector (Collection of Data) Act 2001 Category J (record as other financial institutions).
Resident                                  An Australian resident is any individual, business or other organisation domiciled in Australia. Australian branches and Australian subsidiaries of foreign businesses are regarded as Australian residents.

Restructured                              As defined in APS 220.

Revolving credit                          Means a credit facility that is typically approved for a given period of time but does not have a fixed repayment schedule.

                                          Exclude loans to Australian householders for the purpose of housing (e.g. equity lines of credit secured by residential property).  Facilities of this nature should be reported under housing loans.

Stage 2                                   The impairment stage where provisions on exposures are calculated on a lifetime expected credit loss basis but are not credit impaired in accordance with