Document ID: chunk:federal_register_of_legislation:F2024L00434:body:0:p34
Version: federal_register_of_legislation:F2024L00434
Segment Type: other
Provision Reference: 
Character Range: 125825–129424

balance, then the contractual rate on the loan account would be the interest rate reported on the offset account. However, if only half of the balance in the offset account is offset against the relevant loan balance, then report the interest rate on the offset account as half of the contractual interest rate on the loan account.

                                                    For set-off accounts, the interest rate to be reported on any linked loan and deposit accounts is the contractual interest rate applying to the net balance of these accounts.

Interest receivable                                 Refers to interest earned but not yet received.

Intermediated                                       Means a transaction concluded between two principals but where the transaction is facilitated by an agent on behalf of one or both principals (e.g. an agent lender in a securities lending program).

Internal refinance                                  Occurs where:

                                                         * a new loan is obtained to replace an existing loan that was provided by the ADI or RFC and the credit limit has increased from that which was available prior to refinancing; or
                                                         * the credit limit on an existing loan by the ADI or RFC is increased (e.g. a 'top-up')

                                                    and the funds will be used for substantially the same purpose class as the existing loan contract.

                                                    Where the residential property for which the loan will be used changes, for reporting purposes treat this as if it were a new loan to the ADI or RFC.

                                                    It includes: loan variations where there is an increase in the credit limit, but no new contract is signed.

                                                    It excludes:

                                                         * loan variations such as switches between variable interest rates and fixed interest rates, interest-only or amortising loans, owner occupied or investment loans and instances of collateral substitution or the addition or removal of a borrower or guarantor where these do not result in an increase in the credit limit; and
                                                         * increases in credit limits resulting from missed payments and/or hardship concessions provided to the borrower.

                                                    Report the amount of the new credit limit (i.e. do not subtract the previous credit limit from the new credit limit).

Investment / investor (housing loan)                Means a loan to a household for the purpose of housing, where the funds are used for a residential property that is not owner-occupied.

                                                    Where the loan is for a residential property that is different to the residential property against which the loan is secured, this definition refers to the occupation status of the residential property for which the loan has been obtained (not the occupation status of the property used as security).

                                                    It includes: holiday/vacation homes and part-time residences that are not the borrower's or borrowers' principal place of residence.

                                                    It excludes:

                                                         * part-time residences that are the borrower's or borrowers' principal place of