Document ID: chunk:federal_register_of_legislation:F2023L00624:front:0:p8
Version: federal_register_of_legislation:F2023L00624
Segment Type: other
Provision Reference: 
Character Range: 21974–26024

line item has a unique identifier.

                                                                                                          Asset identifiers must be assigned to both underlying assets and individual eligible collateral items, guarantee and letter of credit exposures that are recognised in place of the underlying assets.

Asset identifier to which risk mitigant asset relates                                                     This is a cross-reference identifier which links an individual risk mitigant asset to the underlying asset against which it is held. For example, if an eligible collateral item is held in place of an underlying asset with the asset identifier of 3, the life company must put 3 as a value under this data item in respect of the eligible collateral item. If a fund is treating a reinsurance asset (with asset identifier 5) that has been guaranteed by a bank as an exposure to the guarantor (reported with asset identifier 6) the life company must report 5 for this data item in the exposure to guarantor asset line item.

Assets backing non-participating benefits with entitlement to discretionary additions                     This is the amount of assets allocated to support non-participating benefits with entitlement to discretionary additions (gross policy liabilities only).

                                                                                                          These assets are excluded for the calculation of VAF for reinsurance assets together with assets backing participating traditional business and participating unbundled investment business.

Assets backing participating traditional business and participating unbundled investment business         This is the amount of assets allocated to support:

                                                                                                               * participating traditional business; and
                                                                                                               * participating unbundled investment business.

                                                                                                          It represents the amount of gross policy liabilities, policy owners' retained profits and shareholders' retained profits in respect of these types of business.

                                                                                                          These assets are excluded for the calculation of VAF for reinsurance assets together with assets backing non-participating benefits with entitlement to discretionary additions.

C

Counterparty grade 1, 2 or 3 before downgrade  This is an indicator that identifies whether the reinsurance counterparty had a counterparty grade 1, 2 or 3 at the time that the reinsurance arrangement was entered into. This relates to reinsurance arrangements with a registered life company, an APRA approved affiliated entity or an appropriate retrocessionaire where LPS 117 specifies a phased reduction in the asset concentration limit in the event of the reinsurance counterparty being downgraded below grade 3.

                                               Possible values are:

                                                    * yes;
                                                    * no; and
                                                    * not applicable.

Counterparty group name                        For each counterparty entity to which the life company has exposure, this is the registered business name of the corporate group to which the counterparty entity belongs.

                                               Where the counterparty entity does not belong to a group, it is the counterparty name.

Counterparty name                              This is the registered business name of the counterparty entity to which the life company has exposure.

Current counterparty grade                     This is the counterparty grade of the asset or counterparty to