Document ID: chunk:federal_register_of_legislation:F2023L00570:front:0:p8
Version: federal_register_of_legislation:F2023L00570
Segment Type: other
Provision Reference: 
Character Range: 19200–22726

reinsurance contracts held. If there is not a legal right of set-off, report the receivable amount without set-off. Also refer to the definition of amounts payable on reinsurance contracts held.

                                                  Amounts receivable on reinsurance contracts held is netted against reinsurance contract liabilities or added to reinsurance contract assets under AASB 17.

                                                  This must exclude any amount already allowed in insurance liabilities determined under GPS 340 to avoid double counting.

                                                  This amount must be consistent with amounts receivable on reinsurance contracts held reported in GRS 112.0.G.
Assets subject to credit spreads stress type      This is the category of assets subject to credit spreads stress. The options are:
                                                      * bonds and other non-securitised assets;
                                                      * structured and securitised assets; and
                                                      * re-securitised assets.

C
Cash and cash equivalents                   This is the value, as at the relevant date, of notes and coins; deposits withdrawable or redeemable within 24 hours; and securities purchased under agreements to resell.

(Items subject to Asset Risk Charge type)
Claims payable                              This is the value of claims payable, which reflects claims due but not paid.
(Items subject to Asset Risk Charge type)

                                            For inwards reinsurance business, where there is a legal right of set-off within the underlying reinsurance contract, report under this item if the amount after set-off results in a net payable position to the cedant. If there is not a legal right of set-off, report the amounts payable without set-off. Also refer to the definition of premiums receivable.

                                            Claims payable is netted against insurance contract assets or added to insurance contract liabilities under AASB 17.

                                            This must exclude any amount already allowed in insurance liabilities determined under GPS 340 to avoid double counting.

                                            This amount must be consistent with claims payable reported in GRS 112.0.G.
Counterparty grade                          This is the classification applied to an investment or exposure as per the requirements of GPS 001. Assets guaranteed by an Australian state or territory government must be reported in the counterparty grade that applies after rating up one grade in accordance with GPS 114.
Credit spread fair value amount             This is the fair value of assets that are subject to credit spreads stress.
Credit spread stressed amount               This is the stressed value of assets that are subject to credit spreads stress.
Credit spreads stress                       This is the impact on a Level 2 insurance group's capital base of an increase in credit spreads and the risk of default and is calculated in accordance with GPS 114.

(Stress scenario type)                      This stress applies to interest bearing assets, including cash deposits and floating rate assets. Credit derivatives and zero-coupon instruments such as bank bills must also be included.
Currency downwards stress                   This is the impact on a Level 2 insurance group's capital