Document ID: chunk:federal_register_of_legislation:F2022L00217:body:0:p6
Version: federal_register_of_legislation:F2022L00217
Segment Type: other
Provision Reference: 
Character Range: 16271–19961

elapsed since the due date of a contractual payment which has not been met in full; and
                                                 * the total amount unpaid outside contractual arrangements is equivalent to at least 90 days' worth of contractual payments. This includes all fees and any charges that are due but unpaid as a result of missed payments.

                                          Overdrafts are considered past-due once the borrower has breached an advised limit or been advised of a limit smaller than current outstandings. Non-authorised overdrafts are considered to have a zero limit for regulatory capital purposes. An ADI must, therefore, treat days past-due as commencing once any credit is granted to an unauthorised borrower and if such credit is not repaid within 90 days, the exposure must be considered to be in default.
Community service organisations (CSOs)    Include:

                                                 * institutions financed mostly by members' contributions, e.g. trade unions, professional societies, consumer associations, political parties, churches and religious societies, and social, cultural, recreational and sports clubs; and
                                                 * charities and aid organisations financed by voluntary transfers.

                                          Exclude:

                                                 * CSOs and non-profit institutions controlled and mainly financed by government (record as other).
Credit cards                              Credit cards are a common consumer credit arrangement that allows the consumer the option of borrowing against a pre‑approved line of credit.  They are typically unsecured.

Financial corporations                    Means ADIs, RFCs, insurance corporations, pension funds, and other financial institutions.

Households                                This comprises individuals, or groups of individuals, resident in Australia whose dealings with other sectors are for personal or household purposes.

                                          Exclude sole proprietors, partnerships, family trusts, and any other unincorporated enterprises owned by households (record as private unincorporated businesses).

Housing (loans)                           Means facilities, both amortising and line of credit that are primarily secured by a registered mortgage over a residential property. They may be for any purpose including the construction, purchase of dwellings for owner occupation or investment or commercial ventures.

Individually managed                      These are troublesome exposures that are managed on a transaction basis and typically subject to individual review.

Insurance corporations                     Means general insurers within the meaning of the Insurance Act 1973 and life companies within the meaning of the Life Insurance Act 1995, and private health insurers within the meaning of the Private Health Insurance (Prudential Supervision) Act 2015.

                                          Include:

                                                 * friendly societies that are regulated under the Life Insurance Act 1995; and
                                                 * Export Finance Insurance Corporation despite it not being a general insurer, life company or private health insurer.
Lease financing                           Lease financing is a method of financing the acquisition 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