Document ID: chunk:federal_register_of_legislation:F2022L01348:body:0:p10
Version: federal_register_of_legislation:F2022L01348
Segment Type: other
Provision Reference: 
Character Range: 24810–27761

venture of the reporting insurer.

It is automatically calculated as Item 7 less the sum of Items 7.1, 7.1.1 and 7.2.

Section 3: Charges granted

    (1)         Type of charge / encumbrance

Report the type of charge granted against the assets of the reporting insurer.  For example, the charge could be:

   * a fixed charge which is generally given in relation to a specific asset or assets and it will generally limit the ability or right of the reporting insurer to deal with those assets; or

   * a floating charge which may be given over specific assets or all assets of the reporting insurer and may generally only crystallise and become a fixed charge on the occurrence of a specific event that is agreed between the parties (i.e. default on payment, or not maintaining specified interest coverage ratios).

    (2)         Principal value of the charge

Report the principal or face value amount of the charge or encumbrance given over assets of the reporting insurer.

    (3)         Outstanding value of the charge

Report the outstanding value of the charge or encumbrance (as at the relevant date) given over assets of the reporting insurer.

    (4)         Fair value of assets subject to the charge

Report the fair value of the assets that are subject to the charge or encumbrance.  Fair value has the same meaning as in the Australian Accounting Standards.

    (5)         Asset subject to charge is an Inside Australia asset?

If the asset subject to the charge granted by the reporting insurer is an asset inside Australia as per GPS 120, report a 'Y', otherwise 'N'.

    (6)         Grade of asset subject to charge

Report the counterparty grade of the asset/counterparty that is subject to the charge or encumbrance. The counterparty grade is as per Attachment C of GPS 001.

    (7)         Value of insurance liabilities supported by security given

Report the value, as at the relevant date, of insurance liabilities that are supported by charges or encumbrances granted over assets of the reporting insurer.

Section 4A: Credit support received - eligible collateral provided to reporting insurer

This section provides information on eligible collateral provided to the reporting insurer. Eligible collateral includes any form of security that supports the value of assets held by the reporting insurer other than guarantees and letters of credit.

    (1)         Name of entity providing collateral to the reporting insurer

Report the name of the entity that is providing the eligible collateral to the reporting insurer.

   (2)     Relating to reinsurance recoverable due from non-APRA-authorised reinsurers?

Disclose whether the collateral is related to reinsurance recoverable due from non-APRA-authorised reinsurers by selecting 'Y' or 'N'.

    (3)         Fair value of eligible collateral provided

This is the fair value, as at the relevant date, of eligible collateral