Document ID: chunk:federal_register_of_legislation:F2022L01348:body:0:p8
Version: federal_register_of_legislation:F2022L01348
Segment Type: other
Provision Reference: 
Character Range: 19465–22325

GPS 120 Assets in Australia (GPS 120).

    12.        Total non-market related off balance sheet business (total of item 11) which are provided to related parties

Of the value of all credit substitutes that are not transacted in financial markets, report the value that is provided to related parties.

   12.1.     Parent entity

This refers to credit substitutes that are not transacted in financial markets that are with/from the parent entity of the reporting insurer.

      12.1.1.         Controlled entities / controlled entities of parent

This refers to credit substitutes that are not transacted in financial markets that are with/from a subsidiary of the reporting insurer, or another branch of the parent entity for a Category C insurer.

     12.2.           Joint ventures / Associates

This refers to credit substitutes that are not transacted in financial markets that are with/from an associate or joint venture of the reporting insurer.

     12.3.           Other related parties

This refers to credit substitutes that are not transacted in financial markets that are with/from a related party of the reporting insurer that is not the parent entity, a subsidiary, a related party of a director, an associate or a joint venture of the reporting insurer.

This is automatically calculated as Item 12 less the sum of Items 12.1, 12.1.1 and 12.2.

Section 2: Liquidity support facilities obtained

    (1)         Approved balance available

Report the maximum approved amount that can be drawn down in relation to the facility.

    (2)         Undrawn balance available

Report the balance of the facility that has not been used or drawn down by the reporting insurer at the relevant date.

     1. Standby facilities

A standby facility is an arrangement in which a party has the right but not the obligation to draw down funds to a specified limit. Generally, the drawing party is required to provide written notice to trigger draw down (access to the funds) on these facilities.

     1.1.               Facilities with same day draw down

Report the value of the standby facilities that are able to be drawn down (funds accessed) the same day as notice is given by the reporting insurer of its intention to draw down on the standby facility.

     1.2.               Facilities with 2 - 5 day draw down

Report the value of the standby facilities that are able to be drawn down (funds accessed) within two to five days after notice is given by the reporting insurer of its intention to draw down on the standby facility (i.e. a two to five day waiting period).

     1.3.               Facilities with greater than 5 day draw down

Report the value of the standby facilities that are only able to be drawn down (funds accessed) more than five days after notice is given by the reporting insurer of its intention