Document ID: chunk:federal_register_of_legislation:F2022L00217:body:0:p7
Version: federal_register_of_legislation:F2022L00217
Segment Type: other
Provision Reference: 
Character Range: 19752–24209

of an asset (e.g. motor vehicle or business equipment) by the user under which the ADI buys the asset from a third party and leases it to the user in return for lease rental payments.  A component of the lease rental payment relates to interest and another component to the reduction of principal.

Non-financial corporations                This comprises private trading corporations and private unincorporated businesses.

Non-performing                            As defined in Prudential Standard APS 220 Credit Risk Management (APS 220).

Non-resident                              A non-resident is any individual, business or other organisation domiciled overseas. Foreign branches and foreign subsidiaries of Australian businesses are regarded as non-residents.

Not well-secured                          An exposure that is for which the ADI judges that the fair value of associated security, discounted to allow for reasonable realisation costs, is not sufficient to cover payment of principal and any accrued interest.

Other (sector classification)             This comprises all other entities not classified as households, CSOs, non-financial corporations, or financial corporations.

Other financial institutions              The other financial institutions sector includes all financial institutions not recorded in the above financial corporation categories.

                                          Include:

                                                 * financial auxiliaries such as fund managers as principal, stock brokers and insurance brokers;
                                                 * securitisers;
                                                 * mortgage, fixed interest and equity unit trusts;
                                                 * economic development corporations owned by governments;
                                                 * co-operative housing societies;
                                                 * other financial corporations registered under the Financial Sector (Collection of Data) Act 2001 Category J;
                                                 * investment companies; and
                                                 * common funds including cash common funds.

                                          Exclude:

                                                 * cash management trusts (record as RFCs); and
                                                 * property and trading trusts (record as private trading corporations).
Other loans                               Means loans that are not revolving credit, credit cards, housing loans, term loans, or lease financing.

Past-due                                  As defined in APS 220.

Pension funds                             The pension funds sub-sector includes all superannuation funds that are regarded as complying funds for the purposes of the Superannuation Industry (Supervision) Act 1993 and other autonomous funds established for the benefit of public sector employees. Superannuation funds with all of their assets invested with insurance offices are included.

                                          Superannuation funds and approved deposit funds (ADFs) are established to provide benefits for their members on retirement, resignation, death or disablement. Superannuation funds and ADFs usually take the legal form of trust funds.

                                          Include:

                                                 * Pooled Superannuation Trusts;
                                                 * public sector superannuation funds (including SIS-exempt funds);
                                                 * private sector superannuation funds;
                                                 * ADFs; and
                                                 * superannuation funds established by life insurance companies.

                                          Exclude:

                                                 * retirement savings accounts.
Portfolio managed                         Exposures managed on a portfolio basis are typically 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