Document ID: chunk:federal_register_of_legislation:F2020L01555:body:0:p5
Version: federal_register_of_legislation:F2020L01555
Segment Type: other
Provision Reference: 
Character Range: 14738–18097

must be converted to AUD in accordance with Accounting Standard AASB 121 The Effects of Changes in Foreign Exchange Rates (AASB 121).

Definitions
Terms highlighted in bold italics indicate that the definition is provided in these instructions.

Legal Entity Identifier means a 20-digit, alpha-numeric code issued by a Local Operating Unit in accordance with the International Organization for Standardization's International Standard ISO 17442. The Global Legal Entity Identifier Foundation maintains a free online searchable database of Legal Entity Identifiers, available at https://search.gleif.org/#/search/.

Market prices means the value at which non-financial and financial assets are, or could be, exchanged for cash (currency or transaction deposits). They are the amounts of money that willing buyers pay to acquire something from willing sellers; the exchanges are made between independent parties and on the basis of commercial consideration only (i.e. at 'arm's length').

SPV means Special Purpose Vehicle.

Step-in risk entity has the meaning given in paragraph 8(h) of APS 222.

Step-in risk name means the legal name of the step-in risk entity.

Step-in risk sector means the sector of the step-in risk entity.

Step-in risk entity category
Regulated means the step-in risk entity is regulated by APRA or an equivalent prudential regulator overseas.

Non-regulated means the step-in risk entity is not regulated by APRA or an equivalent prudential regulator overseas.

Step-in risk entity sectors
Banking institution means an ADI or banking institutions authorised in another jurisdiction.

Central banks means central banks, including the RBA, Bank for International Settlements, the European Central Bank, and other official monetary authorities.

Central borrowing authorities means entities that primarily provide finance for public corporations and other units owned or controlled by an Australian or foreign 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 national, state, territory and regional governments.

Community service organisations means non-market operators providing goods and services to households for free or at prices that are not economically significant. Included here are non-profit institutions  (NPIs) that are mainly financed from household member subscriptions and produce benefits primarily for the household members and NPIs credited for philanthropic purposes that are financed mainly from donations or government grants.

Financial auxiliaries means corporations and quasi-corporations engaged primarily in activities closely related to financial intermediation, but which do not themselves perform an intermediation role.

It includes fund managers as principal, stockbrokers, insurance brokers, investment advisors and corporations providing infrastructure for financial markets.

Financial institutions means central banks, banking institutions, registered financial corporations, central borrowing authorities, insurance corporations, superannuation funds, financial auxiliaries,