Document ID: chunk:federal_register_of_legislation:F2024L00434:body:0:p26
Version: federal_register_of_legislation:F2024L00434
Segment Type: other
Provision Reference: 
Character Range: 95230–99090

in the reported value.

Covered bond collateral pool                    Covered bond collateral pool has the meaning of 'cover pool' as in the Banking Act 1959.

Covered bonds                                   Covered bonds are debt securities that are backed by a ring-fenced pool of assets, such as housing loans.

                                                Covered bonds are similar to asset-backed securities, but in the event of bankruptcy, the investor has recourse to both the collateral and the originator or servicer of the loans or finance leases.

Credit cards                                    Means a card whose holder has been granted a revolving credit line. The card enables the holder to make purchases and/or cash advances up to a pre-arranged limit. The credit granted can be settled in full by the end of a specified period or in part, with the balance taken as extended credit. Interest may be charged on the transaction amounts from the date of each transaction or only on the extended credit where the credit granted has not been settled in full.

                                                It includes: charge cards.  Charge cards are credit cards that must be paid in full at the end of each statement period.

                                                It excludes: debit cards, including those linked to accounts with overdraft facilities.

D

Debit cards                           Means a card that enables a customer to access funds in a deposit account to make purchases and/or withdraw cash.

Debt securities                       Means transferable instruments evidencing a relationship of indebtedness.  They are characterised by having a definable return that is not based on the economic performance of the issuing entity.

                                      It includes:

                                           * negotiable certificates of deposit;
                                           * bills of exchange; and
                                           * hybrid securities treated as liabilities under Australian Accounting Standards.

Debt securities excluding hybrids     Means all debt securities other than hybrid securities treated as liabilities.

Deferred fees and commissions         Refers to fees and commissions received in advance but not yet recognised as earned for accounting purposes.

Deposits                              Means non-negotiable contracts that represent the placement of funds available for later withdrawal.

                                      It includes:

                                           * account balances with ADIs and registered financial corporations (including transaction deposits, fixed-term deposits and other non-transaction deposits);
                                           * purchased payment facilities such as smart cards and electronic cash; and
                                           * non-negotiable certificates of deposit.

                                      It excludes:

                                           * holdings of physical currency (holdings of notes and coins);
                                           * negotiable certificates of deposit (a type of debt security);
                                           * payables due to counterparties arising from the first leg of a repurchase agreement;
                                           * commercial paper;
                                           * arranged overdrafts.  These are generally an agreed arrangement between a lender and a borrower to extend credit when the balance in an attached transaction account falls below zero; and
                                           * unarranged overdrafts.  These refer to the situation when a transaction account holder withdraws an amount greater than the balance of the account leaving