This element has been retired and should no longer be used. The Average Balance Of Interest Earning Other Deposits Applicable Non Bank ADIs Only over the reporting period. The average may be calculated by any method consistent with internal systems of the reporting entity. Assets Average Balance Of Interest Earning Other Deposits Applicable Non Bank ADIs Only Amount Financial Position 3 This is, for the duration of the relevant period, the average balance of other interest earning assets, as required to be reported on APRA forms ARF_330_1_L and ARF_330_1_C. The average may be calculated by any method consistent with internal systems of the reporting entity. Assets Average Balance Of Interest Earning Assets Other ARF 330 1 Amount This is, for the duration of the relevant period, the average balance of other investments, as required to be reported on APRA forms ARF_330_1_L and ARF_330_1_C. The average may be calculated by any method consistent with internal systems of the reporting entity. Assets Average Balance Of Interest Earning Investments Other ARF 330 1 Amount This is a balancing item. This is the amount of any discrepancy between the total credit limits approved for revolving credit reported in the previous relevant period and the amounts reported on the APRA 391.0 series of forms. Assets Exposures Balancing Item APRA Form 391 Amount This is a description of a balancing item. This is the reason for any discrepancy between the total credit limits approved for revolving credit reported in the previous relevant period and the amounts reported on the APRA 391.0 series of forms. Assets Exposures Balancing Item APRA Form 391 Text This is a balancing item. This is the amount of any discrepancy between the total credit limits approved for revolving credit reported in the previous relevant period and the amounts reported on the APRA 394.0 series of forms. Assets Exposures Balancing Item APRA Form 394 Amount This is a description of a balancing item. This is the reason for any discrepancy between the total credit limits approved for revolving credit reported in the previous relevant period and the amounts reported on the APRA 394.0 series of forms. Assets Exposures Balancing Item APRA Form 394 Text This is the value, as at the relevant date, of the excess of the fair value of the reporting party's assets that are subject to a charge or encumbrance, over the value of the reporting party's insurance liabilities that are supported by those charges or encumbrances. Assets Exposures Excess Charged Assets Over Supported Insurance Liabilities Amount This is the aggregate value, as at the relevant date, of the investment risk charge rebates calculated for each category of encumbered asset as: - F x (A - B), where : - F = Investment risk capital factor applicable to the category of asset to which A belongs; - A = The fair value as at the relevant date, of the reporting party's assets subject to a charge or encumbrance; - B = The value of, as at the relevant date, of the reporting party's insurance liabilities that are supported by the security given in A; and - A is greater than B. Assets Exposures Investment Risk Charge Rebate Encumbered Assets Amount This is the value of lending commitments, or firm offers, provided by the reporting party that have been withdrawn, or cancelled, during the relevant period. This includes reductions in the approved amount of the lending commitment. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. With transactions involving a change of residence, you should treat the discharge of the existing loan and the commitment to a new loan as separate events, and report the total value of the discharged commitment as a cancelled commitment. Assets Exposures Lending Commitments Cancelled Amount This is the value of new lending commitments, or firm offers, in the form of fixed-term loans (i.e. other than those in the form of revolving credit loans), provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, during or after the period. New commitments will also include commitments to provide finance to employees, the provision of bridging finance, supplementary commitments (value only) where the original approval was not large enough, commitments to refinance existing loans where the original lender was not the reporting institution. Do not report commitments to refinance existing loans where there is no change in the security offered and the reporting institution was the original lender (e.g. refinance from a variable rate to a fixed rate loan). A commitment is a firm offer to provide finance which has been accepted by the client. A commitment exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. Fixed-term loans generally involve a commitment for a fixed period for a specific purpose and repayments over that fixed period which reduce the loan, but do not make further finance available. A revolving credit loan is a loan secured by the borrowers equity, has no fixed term, is effectively a line of credit, and the borrower is obliged to repay interest only. With transactions involving a change of residence, you should treat the discharge of the existing loan and the commitment to a new loan as separate events, and report the total value of the new loan as a new commitment.. Assets Exposures Lending Commitments Excluding Revolving Credit New Amount This is the value of new lending commitments, or firm offers, other than those in the form of revolving credit loans, provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, during or after the period. New commitments will also include commitments for hire purchase agreements, commitments for debt participation in leveraged lease agreements, commitments that involve or make provision for the issue of bills of exchange to be accepted, discounted or drawn down, and commitment for standby agreements. Do not report commitments for lease agreements (other than hire purchase agreements and debt participation in leveraged lease agreements, the purchase of securities unless it involves a direct commitment to a client, bills of exchange and promissory notes purchased and held, commitments contingent on some specified eventuality (e.g. bill endorsement, guarantees, letter of credit) unless and until that eventuality occurs) and commitments for discounts which exists as options under acceptance commitments. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. Revolving credit facilities involve a commitment for a credit or borrowing limit and where the extent of the borrowings used at any one time may be for any amount up to the authorised limit. Repayments (other than of changes and interest) reduce the borrowings thereby increasing the amount of unused credit available. With transactions involving a change of residence, you should treat the discharge of the existing loan and the commitment to a new loan as separate events, and report the total value of the new loan as a new commitment.. Assets Exposures Lending Commitments Excluding Revolving Credit New 391 Amount This is the number of dwellings to be constructed, purchased or refinanced in relation to new lending commitments, or firm offers, other than those in the form of revolving credit loans, provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, during or after the period. New commitments will also include finance to employees, the provision of bridging finance, supplementary commitments (value only) where the original approval was not large enough, commitments to refinance existing loans where the original lender was not the reporting institution. Do not report commitments to refinance existing loans where there is no change in the security offered and the reporting institution was the original lender (e.g. refinance from a variable rate to a fixed rate loan). A commitment is a firm offer to provide finance which has been accepted by the client. A commitment exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. A revolving credit loan is a loan secured by the borrowers equity, has no fixed term, is effectively a line of credit, and the borrower is obliged to repay interest only. With transactions involving a change of residence, you should treat the discharge of the existing loan and the commitment to a new loan as separate events, and report the total value of the new loan as a new commitment. A dwelling is a place of residence which is: - contained in a building which is an immobile structure; - private (i.e. not generally accessible to the public); and - self contained (i.e. includes bathing and cooking facilities). Assets Exposures Lending Commitments Excluding Revolving Credit New Dwellings Count This is the value of new lending commitments, or firm offers, other than those in the form of revolving credit loans, provided by the reporting party during the relevant period, and which remain undrawn as at the end of the period. New commitments will also include commitments for hire purchase agreements, commitments for debt participation in leveraged lease agreements, commitments that involve or make provision for the issue of bills of exchange to be accepted, discounted or drawn down, and commitment for standby agreements. Do not report commitments for lease agreements (other than hire purchase agreements and debt participation in leveraged lease agreements, the purchase of securities unless it involves a direct commitment to a client, bills of exchange and promissory notes purchased and held, commitments contingent on some specified eventuality (e.g. bill endorsement, guarantees, letter of credit) unless and until that eventuality occurs) and commitments for discounts which exists as options under acceptance commitments. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. Revolving credit facilities involve a commitment for a credit or borrowing limit and where the extent of the borrowings used at any one time may be for any amount up to the authorised limit. Repayments (other than of changes and interest) reduce the borrowings thereby increasing the amount of unused credit available. With transactions involving a change of residence, you should treat the discharge of the existing loan and the commitment to a new loan as separate events, and report the total value of the new loan as a new commitment.. Assets Exposures Lending Commitments Excluding Revolving Credit Undrawn New 391 Amount This is the value of goods financed, or to be financed, under finance leases, for which new commitments have been provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, during or after the period. This excludes commitments for commercial hire purchase agreements, for debt participation in leverages lease agreements, and for leveraged leases which are finance leases where the lessor provides a portion of the finance, with the major portion usually provided by long-term creditors and where the creditor's recourse to the lessor is restricted to the proceeds from disposal of the leased asset and any unremitted lease payments. Goods may be valued using one of the following methods: - the capital cost of new goods; - the written-down value of goods re-leased; - the purchase price of second-hand goods; - where the full value of the goods under lease is not financed by one corporation (e.g. a partnership and syndicated leases), the value is your share of the full value, not equity participation; or - in the case of revolving lease facilities, such as master leases, report the value of goods acquired at each drawdown against such facilities. Do not report the value of commitments to provide a leasing limit or to increase a leasing limit. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment generally exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. A Finance Lease refers to the leasing or hiring of tangible assets under an agreement (other than a hire purchase agreement) which transfers from the lessor to the lessee substantially all the risks and benefits incidental to ownership of the assets, without transferring the legal ownership. Assets Exposures Lending Commitments Finance Leases New Goods Amount This is the number of goods financed, or to be financed, under finance leases, for which new commitments have been provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, during or after the period. This excludes commitments for commercial hire purchase agreements, for debt participation in leverages lease agreements, and for leveraged leases which are finance leases where the lessor provides a portion of the finance, with the major portion usually provided by long-term creditors and where the creditor's recourse to the lessor is restricted to the proceeds from disposal of the leased asset and any unremitted lease payments. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment generally exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. A Finance Lease refers to the leasing or hiring of tangible assets under an agreement (other than a hire purchase agreement) which transfers from the lessor to the lessee substantially all the risks and benefits incidental to ownership of the assets, without transferring the legal ownership. Assets Exposures Lending Commitments Finance Leases New Goods Count This is the undrawn value of new lending commitments provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, after the period. This excludes commitments for commercial hire purchase agreements, for debt participation in leverages lease agreements, and for leveraged leases which are finance leases where the lessor provides a portion of the finance, with the major portion usually provided by long-term creditors and where the creditor's recourse to the lessor is restricted to the proceeds from disposal of the leased asset and any unremitted lease payments. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment generally exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. A Finance Lease refers to the leasing or hiring of tangible assets under an agreement (other than a hire purchase agreement) which transfers from the lessor to the lessee substantially all the risks and benefits incidental to ownership of the assets, without transferring the legal ownership. Assets Exposures Lending Commitments Finance Leases New Not Drawn Amount This is the value of new lending commitments, or firm offers, in the form of fixed-term loans, revolving credit loans and leases (operating and financing) provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, during or after the period. New commitments will also include commitments that involve or make provision for the issue of bills of exchange to be accepted, discounted or drawn down, and commitment for standby agreements. Do not report commitments for the purchase of securities unless it involves a direct commitment to a client, bills of exchange and promissory notes purchased and held, commitments contingent on some specified eventuality (e.g. bill endorsement, guarantees, letter of credit) unless and until that eventuality occurs) and commitments for discounts which exists as options under acceptance commitments. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. Fixed-term loans generally involve a commitment for a fixed period for a specific purpose and repayments over that fixed period which reduce the loan, but do not make further finance available. A revolving credit loan is a loan secured by the borrowers equity, has no fixed term, is effectively a line of credit, and the borrower is obliged to repay interest only. With transactions involving a change of residence, you should treat the discharge of the existing loan and the commitment to a new loan as separate events, and report the total value of the new loan as a new commitment.. Assets Exposures Lending Commitments Fixed Term Revolving Credit Leases New Amount This is the value of firm offers for lease financing (by way of operating and/or finance leases) provided by the reporting party during the relevant period regardless of whether or not the commitment was subsequently withdrawn during or after the relevant period. This includes offers of new facilities as well as increases in existing facilities. Assets Exposures Lending Commitments Leases New Amount This is the value of new lending commitments, or firm offers, provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, during or after the period. New commitments will also include finance to employees, the provision of bridging finance, supplementary commitments (value only) where the original approval was not large enough, commitments to refinance existing loans where the original lender was not the reporting institution. Do not report commitments to refinance existing loans where there is no change in the security offered and the reporting institution was the original lender (e.g. refinance from a variable rate to a fixed rate loan). A commitment is a firm offer to provide finance which has been accepted by the client. A commitment exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. With transactions involving a change of residence, you should treat the discharge of the existing loan and the commitment to a new loan as separate events, and report the total value of the new loan as a new commitment. Assets Exposures Lending Commitments New Amount This is the number of dwellings to be constructed, purchased or refinanced in relation to new lending commitments, or firm offers, provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, during or after the period. New commitments will also include finance to employees, the provision of bridging finance, supplementary commitments (value only) where the original approval was not large enough, commitments to refinance existing loans where the original lender was not the reporting institution. Do not report commitments to refinance existing loans where there is no change in the security offered and the reporting institution was the original lender (e.g. refinance from a variable rate to a fixed rate loan). A commitment is a firm offer to provide finance which has been accepted by the client. A commitment exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. With transactions involving a change of residence, you should treat the discharge of the existing loan and the commitment to a new loan as separate events, and report the total value of the new loan as a new commitment. A dwelling is a place of residence which is: - contained in a building which is an immobile structure; - private (i.e. not generally accessible to the public); and - self contained (i.e. includes bathing and cooking facilities). Assets Exposures Lending Commitments New Dwellings Count This is the value of goods financed, or to be financed, under operating leases, from new commitments provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, during or after the period. This excludes commitments for commercial hire purchase agreements, for debt participation in leverages lease agreements, and for leveraged leases which are finance leases where the lessor provides a portion of the finance, with the major portion usually provided by long-term creditors and where the creditor's recourse to the lessor is restricted to the proceeds from disposal of the leased asset and any unremitted lease payments. Goods may be valued using one of the following methods: - the capital cost of new goods; - the written-down value of goods re-leased; - the purchase price of second-hand goods; or - in the case of revolving lease facilities, such as master leases, report the value of goods acquired at each drawdown against such facilities. Do not report the value of commitments to provide a leasing limit or to increase a leasing limit. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment generally exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. An Operating Lease is a lease under which the lessor effectively retains substantially all the risks and benefits incidental to ownership of the leased asset. This excludes hire purchase agreements; or commitments for, or for debt participation in, leveraged leases. Assets Exposures Lending Commitments Operating Leases New Goods Amount This is the number of goods financed, or to be financed, under operating leases, for which new commitments have been provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, during or after the period. This excludes commitments for commercial hire purchase agreements, for debt participation in leverages lease agreements, and for leveraged leases which are finance leases where the lessor provides a portion of the finance, with the major portion usually provided by long-term creditors and where the creditor's recourse to the lessor is restricted to the proceeds from disposal of the leased asset and any unremitted lease payments. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment generally exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. An Operating Lease is a lease under which the lessor effectively retains substantially all the risks and benefits incidental to ownership of the leased asset. This excludes hire purchase agreements; or commitments for, or for debt participation in, leveraged leases. Assets Exposures Lending Commitments Operating Leases New Goods Count This is the undrawn value of new lending commitments provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, after the period. This excludes commitments for commercial hire purchase agreements, for debt participation in leverages lease agreements, and for leveraged leases which are finance leases where the lessor provides a portion of the finance, with the major portion usually provided by long-term creditors and where the creditor's recourse to the lessor is restricted to the proceeds from disposal of the leased asset and any unremitted lease payments. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment generally exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. An Operating Lease is a lease under which the lessor effectively retains substantially all the risks and benefits incidental to ownership of the leased asset. Assets Exposures Lending Commitments Operating Leases New Not Drawn Amount This is the value of drawn and undrawn lending commitments, or firm offers, in the form of revolving credit loans, provided by the reporting party as at the relevant date. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. Revolving credit facilities involve a commitment for a credit or borrowing limit and where the extent of the borrowings used at any one time may be for any amount up to the authorised limit. Repayments (other than of changes and interest) reduce the borrowings thereby increasing the amount of unused credit available. Assets Exposures Lending Commitments Revolving Credit 391 Amount This is the value of cancellations or reductions in the previously approved limit of lending commitments, or firm offers, in the form of revolving credit loans provided by the reporting party which have been cancelled or reduced during the relevant period. This includes the actual value of credit limits cancelled and the value by which existing credit limits were reduced during the period. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. Revolving credit facilities involve a commitment for a credit or borrowing limit and where the extent of the borrowings used at any one time may be for any amount up to the authorised limit. Repayments (other than of changes and interest) reduce the borrowings thereby increasing the amount of unused credit available. Assets Exposures Lending Commitments Revolving Credit Cancellations And Reductions 391 Amount This is the value of new lending commitments, or firm offers, in the form of revolving credit loans, provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, during or after the period. New commitments will also include finance to employees, the provision of bridging finance, supplementary commitments (value only) where the original approval was not large enough, commitments to refinance existing loans where the original lender was not the reporting institution. Do not report commitments to refinance existing loans where there is no change in the security offered and the reporting institution was the original lender (e.g. refinance from a variable rate to a fixed rate loan). A commitment is a firm offer to provide finance which has been accepted by the client. A commitment exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. A revolving credit loan is a loan secured by the borrowers equity, has no fixed term, is effectively a line of credit, and the borrower is obliged to repay interest only. With transactions involving a change of residence, you should treat the discharge of the existing loan and the commitment to a new loan as separate events, and report the total value of the new loan as a new commitment.. Assets Exposures Lending Commitments Revolving Credit New Amount This is the value of new lending commitments, or firm offers, in the form of revolving credit loans provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, during or after the period. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. Revolving credit facilities involve a commitment for a credit or borrowing limit and where the extent of the borrowings used at any one time may be for any amount up to the authorised limit. Repayments (other than of changes and interest) reduce the borrowings thereby increasing the amount of unused credit available. With transactions involving a change of residence, you should treat the discharge of the existing loan and the commitment to a new loan as separate events, and report the total value of the new loan as a new commitment.. Assets Exposures Lending Commitments Revolving Credit New 391 Amount This is the number of dwellings to be constructed, purchased or refinanced in relation to new lending commitments, or firm offers, in the form of revolving credit loans, provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, during or after the period. New commitments will also include finance to employees, the provision of bridging finance, supplementary commitments (value only) where the original approval was not large enough, commitments to refinance existing loans where the original lender was not the reporting institution. Do not report commitments to refinance existing loans where there is no change in the security offered and the reporting institution was the original lender (e.g. refinance from a variable rate to a fixed rate loan). A commitment is a firm offer to provide finance which has been accepted by the client. A commitment exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. A revolving credit loan is a loan secured by the borrowers equity, has no fixed term, is effectively a line of credit, and the borrower is obliged to repay interest only. With transactions involving a change of residence, you should treat the discharge of the existing loan and the commitment to a new loan as separate events, and report the total value of the new loan as a new commitment. A dwelling is a place of residence which is: - contained in a building which is an immobile structure; - private (i.e. not generally accessible to the public); and - self contained (i.e. includes bathing and cooking facilities). Assets Exposures Lending Commitments Revolving Credit New Dwellings Count This is the value, as at the relevant date, of all undrawn lending commitments, or firm offers, provided by the reporting party. For the purposes of this item, where an amount has been previously advanced in relation to a revolving loan, repayments of these amounts should not increase the undrawn commitment. Additions to the stock of undrawn commitments can only be made by new commitments, while reductions in the stock of undrawn commitments can only occur through advances and cancellation of those new commitments. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. Assets Exposures Lending Commitments Undrawn Amount This is the number of new passenger vehicles for which an offer by the reporting party has been accepted by its customer during the relevant period. Vehicles to be included in this total are cars, station wagons, four wheel drive and forward control passenger vehicles that have not previously been owned. Do not include utilities, panel vans, buses, motor cycles/scooters or special purpose vehicles - e.g. ambulances, tow trucks, hearses, fire engines, etc. Assets Exposures New Commitments Goods Financed Passenger Vehicles New Count This is the number of used passenger vehicles for which an offer by the reporting party has been accepted by its customer during the relevant period. Vehicles to be included in this total are cars, station wagons, four wheel drive and forward control passenger vehicles that have previously been owned. Do not include utilities, panel vans, buses, motor cycles/scooters or special purpose vehicles - e.g. ambulances, tow trucks, hearses, fire engines, etc. Assets Exposures New Commitments Goods Financed Passenger Vehicles Used Count This is the value as at the relevant date of credit commitments outstanding vis-a-vis non-residents of the reporting party's offices worldwide and the exposures of their foreign affiliates from guarantees vis-a-vis residents of the countries where the affiliates are located. Credit commitments should be reported to the extent that they represent the unutilised portions of both binding contractual obligations and any other irrevocable commitments. They should only cover those obligations, which, if utilised, would be reported in total cross-border claims and local claims of foreign affiliates in any currency. Credit commitments represent arrangements that irrevocably obligate a reporting party, at a client's request, to extend credit in the form of loans, participation in loans, lease financing receivables, mortgages, overdrafts or other loan substitutes or commitments to extend credit in the form of the purchase of loans, securities or other assets, such as back-up facilities including those under note issuance facilities (NIFs) and revolving underwriting facilities (RUFs). Assets Exposures Off Balance Sheet Credit Commitments Cross Border Amount This is the value, as at the relevant date, all credit substitutes that are not transacted in financial markets. A credit substitute is any transaction that exposes the reporting party to counterparty credit risk that is not a direct extension of credit. Counterparty credit risk is the risk that the counterparty to the transaction will not fulfil their obligations under the contract. A direct extension of credit is where the reporting party provides funds or other on-balance sheet assets to the counterparty in the expectation that they will be repaid at some future date. Assets Exposures Off Balance Sheet Credit Substitutes Amount This is the value as at the relevant date of guarantees outstanding vis-a-vis non-residents of the reporting party's offices worldwide and the exposures of their foreign affiliates from guarantees vis-a-vis residents of the countries where the affiliates are located. Guarantees should be reported to the extent that they represent the unutilised portions of both binding contractual obligations and any other irrevocable commitments. They should only cover those obligations, which, if utilised, would be reported in total cross-border claims and local claims of foreign affiliates in any currency. Performance bonds and other forms of guarantee should only be reported if, in the event of the contingency occurring, the resulting claim would have an impact on total cross-border claims and local claims of foreign affiliates in any currency. Guarantees represent contingent liabilities arising from an irrevocable obligation to pay to a third party beneficiary when a client fails to perform some contractual obligations. They include secured, bid and performance bonds, warranties and indemnities, confirmed documentary credits, irrevocable and stand-by letters of credits, acceptances and endorsements. Guarantees also include the contingent liabilities of the protection seller of credit derivative contracts. Assets Exposures Off Balance Sheet Guarantees Cross Border Amount This is the value of all off balance sheet irrevocable commitments listed on APRA form ARF210.0, which comprise the following: - the value, as at the relevant date, of any potential credit exposures arising from direct credit substitutes, which are irrevocable off-balance sheet obligations that carry the same credit risk as a direct extension of credit, such as an undertaking to make a payment to a third party in the event that a counterparty fails to meet a financial obligation; - the value, as at the relevant date, of any potential credit exposures arising from trade-related contingencies, which are contingent liabilities arising from a trade-related obligation that is secured against an underlying shipment of goods for both issuing and confirming parties; - the value, as at the relevant date, of any potential credit exposures arising from performance-related contingencies, which represent contingent liabilities involving an irrevocable obligation to pay a third party in the event that a counterparty fails to fulfil or perform a contractual non-monetary obligation, such as delivery of goods by a specified date, (i.e. the risk of loss depends on a future event that is not directly related to the creditworthiness of the counterparty involved); - the value, as at the relevant date, of any potential credit exposures arising from sale and repurchase agreements ('Repos'), which represent arrangements whereby an entity sells a loan, security or other asset to another party with a commitment to repurchase the asset at an agreed price on an agreed future date; - the value, as at the relevant date, of any potential credit exposures arising from assets sold with recourse, being asset sales (to the extent that such assets are not included on-balance sheet) by an entity where the holder of the asset is entitled to 'put' the asset back to the entity within an agreed period or under certain prescribed circumstances (e.g. deterioration in the value or credit quality of the asset concerned); - the value, as at the relevant date, of any potential credit exposures arising from forward asset purchases deemed non-market-related off-balance sheet transactions. These are commitments to purchase at a specified future date, and on pre-arranged terms, a loan, security or other asset from another entity, including written put options on specified assets with the character of a credit enhancement; - the value, as at the relevant date, of undrawn irrevocable commitments in the form of formal standby facilities and credit lines to the reporting party's customers and APRA industry support arrangements only. This represents the maximum unused portion of the commitment that could be drawn during the remaining period to maturity. This does not include standby facilities in place to support the reporting party's operations; - the value, as at the relevant date, of overdraft facilities available to the reporting party; and - the value, as at the relevant date, of undrawn irrevocable non-market-related commitments available for redraw under redraw facilities, but which are not certain of drawdown. This represents the maximum unused portion of the commitment that could be drawn during the remaining period to maturity but not does include amounts related to revolving credit facilities. Assets Exposures Off Balance Sheet Irrevocable Commitments ARF210 Amount This is the value, as at the relevant date, of undrawn irrevocable commitments in the form of formal standby facilities and credit lines to the reporting party's customers and APRA industry support arrangements only. This represents the maximum unused portion of the commitment that could be drawn during the remaining period to maturity. This does not include standby facilities in place to support the reporting party's operations. A formal standby facility or credit line is a formalised arrangement in which the counterparty has the right but not the obligation to draw down funds to a specified limit. Commitments, for capital adequacy purposes, are generally considered to have arisen once the reporting party makes a firm offer to a client (i.e. customer acceptance is not required). Therefore, a commitment will arise once a letter of offer is provided to the client by the reporting party. For the purposes of this item, do not report undrawn balances of revolving facilities. Assets Exposures Off Balance Sheet Irrevocable Commitments Undrawn Formal Standby Facilities And Credit Lines Non Operational Amount This is the value, as at the relevant date, of undrawn irrevocable non-market-related commitments available for redraw under redraw facilities, but which are not certain of drawdown. This represents the maximum unused portion of the commitment that could be drawn during the remaining period to maturity. This item is reported for capital adequacy purposes and is to be determined in accordance with relevant prudential standards. Commitments, for capital adequacy purposes, are generally considered to have arisen once the reporting party makes a firm offer to a client (i.e. customer acceptance is not required). Therefore, a commitment will arise once a letter of offer is provided to the client by the reporting party. For the purposes of this item, do not report undrawn balances of revolving facilities. Assets Exposures Off Balance Sheet Non Market Related Commitments Available For Redraw Under Redraw Facilities Amount This is a balancing item in the list in which it is being used. This is the value, as at the relevant date, of any other potential credit exposures arising from direct credit substitutes as required to be reported on form ARF_210_0. A direct credit substitute is an irrevocable off-balance sheet obligation that carries the same credit risk as a direct extension of credit, such as an undertaking to make a payment to a third party in the event that a counterparty fails to meet a financial obligation. Assets Exposures Off Balance Sheet Non Market Related Direct Credit Substitutes Other ARF210 Amount This is the value, as at the relevant date, of overdraft facilities that the reporting party has irrevocably made available to its customers. Overdraft facilities are accounts which may be overdrawn up to a limit agreed by the parties involved. Assets Exposures Off Balance Sheet Overdraft Irrevocable Undrawn Balance Amount This is the value, as at the relevant date, of irrevocable loan amounts that are approved but not yet advanced, and which are certain of drawdown. This represents the maximum unused portion of the commitment that could be drawn during the remaining period to maturity. Any drawn portion of a commitment forms part of an entity's on-balance sheet exposure and is not to be reported at this item. Loans that are approved but not yet advanced are contingent liabilities which represent loans that have been approved by the reporting party but the counterparty has yet to draw down the funds in relation to the arrangement. Commitments, for capital adequacy purposes, are generally considered to have arisen once the reporting party makes a firm offer to a client (i.e. customer acceptance is not required). Therefore, a commitment will arise once a letter of offer is provided to the client by the reporting party. For the purposes of this item, do not report the undrawn balance of revolving facilities (e.g. credit cards, overdrafts, etc.). Assets Exposures Off Balance Sheet Undrawn Commitments Irrevocable Certain Drawdown Loans Approved But Not Yet Advanced Amount This is the value of maximum exposure to unlisted assets at any time during the relevant period. Assets Exposures Unlisted Amount This is the value, as at the relevant date, of provisions for doubtful debts, on reinsurance recoverables, that are current, in relation to reinsurance contracts on paid and unpaid insurance claims against the reporting party. Assets Insurance Current Reinsurance Recoverables Doubtful Debt Amount This is the value, as at the relevant date, gross of provisions for doubtful debts, of reinsurance recoverables, that are current, in relation to reinsurance contracts on paid and unpaid insurance claims against the reporting party. Reinsurance recoverables are any amounts due to the reporting party from a reinsurer that arise from the recognition of Outstanding Claims Liabilities in accordance with relevant prudential standards. Assets Insurance Current Reinsurance Recoverables Gross Amount This is the value, as at the relevant date, net of provisions for doubtful debts, of reinsurance recoverables, that are current, in relation to reinsurance contracts on paid and unpaid insurance claims against the reporting party. Reinsurance recoverables are any amounts due to the reporting party from a reinsurer that arise from the recognition of Outstanding Claims Liabilities in accordance with relevant prudential standards. Assets Insurance Current Reinsurance Recoverables Net Amount This is the value, at the relevant date, of debt securities other than those classified as subordinated. For the purposes of this item exclude those debt securities where the issuer is: 1) an Australian Government (Commonwealth, State or Local); or 2) the national government of a foreign country and either the credit rating in accordance with General Insurance Prudential Standard GPS114 is grade 1 or the country's long term foreign currency counterparty rating is grade 1. Debt securities are 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. The value of this item is to be determined in accordance with accounting standards. Subordinated debt is a debt where the claim to repayment ranks lower in priority to other claims. Assets Insurance Debt Securities Not Subordinated Prudential Excluding Government GRF300G Amount This is the value, at the relevant date, of debt securities other than those classified as subordinated. For the purposes of this item only include those debt securities where the issuer is the national government of a foreign country and either the credit rating in accordance with General Insurance Prudential Standard GPS114 is grade 1 or the country's long term foreign currency counterparty rating is grade 1. Debt securities are 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. The value of this item is to be determined in accordance with accounting standards. Subordinated debt is a debt where the claim to repayment ranks lower in priority to other claims. Assets Insurance Debt Securities Not Subordinated Prudential Government Foreign GRF300G Amount This is the value, at the relevant date, of debt securities other than those classified as subordinated. For the purposes of this item only include those debt securities where the issuer is: 1) an Australian Government (Commonwealth, State or Local); or 2) the national government of a foreign country and either the credit rating in accordance with General Insurance Prudential Standard GPS114 is grade 1 or the country's long term foreign currency counterparty rating is grade 1. Debt securities are 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. The value of this item is to be determined in accordance with accounting standards. Subordinated debt is a debt where the claim to repayment ranks lower in priority to other claims. Assets Insurance Debt Securities Not Subordinated Prudential Government GRF300G Amount This is the value, as at the relevant date, of deferred acquisition costs determined in accordance with accounting standards, which existed prior to any liability adequacy test write downs. Assets Insurance Deferred Acquisition Costs Prior Liability Adequacy Test Write Downs Amount This is the value, as at the relevant date, of deferred levies and charges recognised in accordance with accounting standards. Levies and charges are expenses incurred by the reporting party in relation to obligations to government authorities that are recouped by way of income from customers. Deferred levies and charges are those paid in advance. Assets Insurance Deferred Levies Charges Amount This is the value, as at the relevant date, of deferred reinsurance expense (DRE), as determined in accordance with the relevant Accounting Standards. Assets Insurance Deferred Reinsurance Expense Amount This is the value, as at the relevant date, of deferred reinsurance expense (determined in accordance with accounting standards) where the reporting party has complied with the threshold levels of reinsurance documentation set out in the relevant prudential standards. Assets Insurance Deferred Reinsurance Expense Meet Doc Test Net Amount This is the value, as at the relevant date, of deferred reinsurance expense (determined in accordance with accounting standards) where the reporting party has not complied with the threshold levels of reinsurance documentation set out in the relevant prudential standards. Assets Insurance Deferred Reinsurance Expense Not Meet Doc Test Net Amount This is the value, as at the relevant date, of deferred reinsurance expense (DRE) that relates to current policies. The total DRE should be determined in accordance with accounting standards, and the allocation to current policies should be determined in accordance with prudential standards. Assets Insurance Deferred Reinsurance Expense Policies Current Amount This is the value, as at the relevant date, of deferred reinsurance expense that relates to future policies. Assets Insurance Deferred Reinsurance Expense Policies Future Amount This is the value, as at the relevant date, of deferred reinsurance expense that relates to future policies, determined in accordance with prudential standards. Assets Insurance Deferred Reinsurance Expense Policies Future Accounting Amount This the value, as at the relevant date, of deferred reinsurance expense (DRE), determined in accordance with prudential standards. DRE represents the deferral of reinsurance expense in accordance with the pattern of reinsurance service received. Reinsurance expense is to be recognised in accordance with the pattern of reinsurance service received as required by relevant Accounting Standards. Reinsurance expense will be recognised from the attachment date over the period of indemnity of the reinsurance contract in accordance with the expected pattern of the incident of risk. This may vary according to the type of reinsurance contract as outlined below. For reinsurance written on risks attaching or, equivalently, an underwriting period basis, current reinsurance contracts are fully matched to the underlying insurance portfolios. Reinsurance coverage for the underlying portfolio is recognised as the underlying policies are written. For reinsurance written on a losses occurring basis, current reinsurance contracts provide coverage for any risks exposed during the reinsurance period irrespective of when the underlying business was written. Such reinsurance covers both the unexpired portion of policies in force at the contract commencement date and that portion of new business and renewals written during the year that is earned up to the contract expiry date. This latter portion relates to business which has not yet been written at the contract commencement date. It is expected that initially the full minimum and deposit premium would be recognised as an expense, with any necessary adjustments due to experience at subsequent relevant dates. Where payments under a reinsurance contract extend beyond the current year of cover, reinsurance expense is to be discounted using similar discount rates as required in measuring insurance liabilities in accordance with AASB 1023. Assets Insurance Deferred Reinsurance Expense Prudential Amount This is the value, as at the relevant date, of deferred (non current) tax assets attributable to carried forward unused tax losses as determined in accordance with relevant accounting standards. For the purposes of this item exclude those DTAs related to surplus/deficit in defined benefit superannuation funds. Assets Insurance Deferred Tax Assets From Tax Losses Excluding Relating To Surplus Deficit Defined Super Fund Amount This is the value, as at the relevant date, of deferred tax assets (DTA) net of any deferred tax liabilities, as determined in accordance with relevant accounting standards. For the purposes of this item exclude those DTAs related to surplus/deficit in defined benefit superannuation funds. Assets Insurance Deferred Tax Net Excluding Relating To Surplus Deficit Defined Benefit Super Fund Amount This is the value, as at the relevant date, of deferred (non current) tax assets associated with the provision for outstanding claims liabilities and premiums liabilities that satisfy the recognition requirements of accounting standards. For the purposes of this item exclude those DTAs related to surplus/deficit in defined benefit superannuation funds. Assets Insurance Deferred Tax OCL And PL Excluding Relating To Surplus Deficit Defined Super Fund Amount This is the value, as at the relevant date, of deferred (non current) tax assets (DTA) as determined in accordance with relevant accounting standards, other than those attributable to carried forward unused tax losses and insurance liability provisions. For the purposes of this item exclude those DTAs related to surplus/deficit in defined superannuation funds. Assets Insurance Deferred Tax Other GRF300LB Amount This is the value net of provisions for doubtful debts, as at the relevant date, of expected non-reinsurance recoveries on premium liabilities of the reporting party. Expected non-reinsurance recoveries are any amounts due to the reporting party, other than under a reinsurance arrangement, that arise from the recognition of Premiums Liabilities in accordance with capital and prudential standards. Assets Insurance Expected Non Reinsurance Recoveries Amount This is the value net of provisions for doubtful debts, as at the relevant date, of expected reinsurance recoveries on premium liabilities of the reporting party where the reporting party has complied with the threshold levels of reinsurance documentation set out in the relevant prudential standards. Expected reinsurance recoveries are any amounts due to the reporting party under a reinsurance arrangement that arise from the recognition of Premiums Liabilities in accordance with capital and prudential standards. Assets Insurance Expected Reinsurance Recoveries Meet Doc Test Net Amount This is the value net of provisions for doubtful debts, as at the relevant date, of expected reinsurance recoveries, being any amounts due to the reporting party under a reinsurance arrangement that arise from the recognition of Premiums Liabilities in accordance with capital and prudential standards. Assets Insurance Expected Reinsurance Recoveries Net Amount This is the value net of provisions for doubtful debts, as at the relevant date, of expected reinsurance recoveries on premium liabilities of the reporting party where the reporting party has not complied with the threshold levels of reinsurance documentation set out in the relevant prudential standards. Expected reinsurance recoveries are any amounts due to the reporting party under a reinsurance arrangement that arise from the recognition of Premiums Liabilities in accordance with capital and prudential standards. Assets Insurance Expected Reinsurance Recoveries Not Meet Doc Test Net Amount This is the value, as at the relevant date, of the following assets: - Cash management trusts with a counterparty rating of Grade 5 - Any debt obligation with a counterparty rating of Grade 5, excluding unlisted subordinated debt and debt obligations of government that meet the following criteria: - Debt obligations of any Australian government; or - Debt obligations of the national government of a foreign country where the security has a Grade 1 counterparty rating or, if not rated, the long-term, foreign currency counterparty rating of that country is Grade 1. Assets Insurance Investment Capital Factor Eight Pct Amount This is the value, as at the relevant date, of the following assets: - Cash management trusts with a counterparty rating of Grade 3 - Any debt obligation with a counterparty rating of Grade 3, excluding subordinated debt and debt obligations of government that meet the following criteria: - Debt obligations of any Australian government; or - Debt obligations of the national government of a foreign country where the security has a Grade 1 counterparty rating or, if not rated, the long-term, foreign currency counterparty rating of that country is Grade 1. Assets Insurance Investment Capital Factor Four Pct Amount This is the value, as at the relevant date, of the following assets: - Cash (notes and coins) - Debt obligations of any Australian government; or - Debt obligations of the national government of a foreign country where the security has a Grade 1 counterparty rating or, if not rated, the long-term, foreign currency counterparty rating of that country is Grade 1; - Assets in respect of anticipated recoveries from the Commonwealth Government or from an Australian State or Territory government; and - GST receivables (input tax credits). Assets Insurance Investment Capital Factor Half Pct Amount This is the value, as at the relevant date, of the following assets: - Cash management trusts with a counterparty rating of Grade 1 or 2 - Any debt obligation that matures or is redeemable in less than one year with a counterparty rating of Grade 1 or 2, excluding subordinated debt and debt obligations of government that meet the following criteria: - Debt obligations of any Australian government; or - Debt obligations of the national government of a foreign country where the security has a Grade 1 counterparty rating or, if not rated, the long-term, foreign currency counterparty rating of that country is Grade 1. Assets Insurance Investment Capital Factor One Pct Amount This is the value, as at the relevant date, of the following assets: - Cash management trusts with a counterparty rating of Grade 4 or unrated - Any debt obligation with a counterparty rating of Grade 4 or unrated, excluding subordinated debt and debt obligations of government that meet the following criteria: - Debt obligations of any Australian government; or - Debt obligations of the national government of a foreign country where the security has a Grade 1 counterparty rating or, if not rated, the long-term, foreign currency counterparty rating of that country is Grade 1. Assets Insurance Investment Capital Factor Six Pct Amount This is the value, as at the relevant date, of debt obligations that mature or are redeemable in one year or more with a counterparty rating of Grade 1 or 2, excluding subordinated debt and debt obligations of government that meet the following criteria: - Debt obligations of any Australian government; or - Debt obligations of the national government of a foreign country where the security has a Grade 1 counterparty rating or, if not rated, the long-term, foreign currency counterparty rating of that country is Grade 1. Assets Insurance Investment Capital Factor Two Pct Amount This is a balancing item in the list in which it is being used. This is the value, as at the relevant date, of any assets held by unit trusts or managed investment schemes invested in by the reporting party, or mandates individually managed on behalf of the reporting party, other than: - debt obligations; - equity securities; - property (real estate or property trusts); - cash management trust; - cash (notes and coins) - assets in respect of anticipated recoveries from the Commonwealth Government or from an Australian State or Territory government; and - GST receivables (input tax credits). Assets Insurance Investments Other GRF300G Amount This is the value, as at the relevant date, of the Liability Adequacy Test (LAT) write-down in relation to Deferred Acquisition Costs (DAC) as determined in accordance with relevant accounting standards. If the present value of the expected future cash flows relating to future claims arising from the rights and obligations under current general insurance contracts, plus an additional risk margin to reflect the inherent uncertainty in the central estimate, exceed the unearned premium liability less related intangible assets and related deferred acquisition costs, then the unearned premium liability is deficient. This deficiency shall first be written off against related intangible assets and then against related deferred acquisition costs. The value reported here is the amount by which those deferred acquisition costs were written down as a result of the application of this requirement. Assets Insurance Liability Adequacy Test Write Down Deferred Acquisition Cost Amount This is the value, as at the relevant date, of any liability adequacy test write downs in relation to deferred acquisition costs, determined in accordance with accounting standards. Assets Insurance Liability Adequacy Test Write Downs Amount This is, as at the relevant date, the principal amount of loans provided to an insured for the purposes of funding their premium, gross of associated provisions for impairment and deferred fee income, and including any accrued interest. Assets Insurance Loans Premium Funding Gross Amount This is the value, as at the relevant date, of provisions for impairment in relation to loans provided to an insured for the purposes of funding their premium. Assets Insurance Loans Premium Funding Impairment Amount This is, as at the relevant date, the principal amount of loans provided to an insured for the purposes of funding their premium, net of associated provisions for impairment and deferred fee income, and including any accrued interest. Assets Insurance Loans Premium Funding Net Amount This is the amount, as at the relevant date, of net assets after adding or deducting the net surplus/deficit related to insurance liabilities, but before any deductions excluded for capital adequacy purposes and determined in accordance with relevant prudential standards. Assets Insurance Net Before Excluded Deductions Amount This is the value, as at the relevant date, of provisions for doubtful debts, on reinsurance recoverables, that are non-current, in relation to reinsurance contracts on paid and unpaid insurance claims against the reporting party. Assets Insurance Non Current Reinsurance Recoverables Doubtful Debt Amount This is the value, as at the relevant date, gross of provisions for doubtful debts, of reinsurance recoverables, that are non-current, in relation to reinsurance contracts on paid and unpaid insurance claims against the reporting party. Reinsurance recoverables are any amounts due to the reporting party from a reinsurer that arise from the recognition of Outstanding Claims Liabilities in accordance with relevant prudential standards. Assets Insurance Non Current Reinsurance Recoverables Gross Amount This is the value, as at the relevant date, net of provisions for doubtful debts, of reinsurance recoverables, that are non-current, in relation to reinsurance contracts on paid and unpaid insurance claims against the reporting party. Reinsurance recoverables are any amounts due to the reporting party from a reinsurer that arise from the recognition of Outstanding Claims Liabilities in accordance with relevant prudential standards. Assets Insurance Non Current Reinsurance Recoverables Net Amount This is the amount related to insurance premiums due but not yet received as at the relevant date, gross of provision for doubtful debts. Assets Insurance Receivables Premium Gross Amount This is the amount of provision for doubtful debts related to insurance premiums due but not yet received as at the relevant date. Assets Insurance Receivables Premium Provision Doubtful Debts Amount This is the value, as at the relevant date, of any asset (net of provisions for doubtful debts) recognised by the reporting party that relates to reinsurance where the reporting party has not complied with the threshold levels of reinsurance documentation set out in the relevant prudential standards. A reinsurance arrangement meets the reinsurance documentation test is it satisfies the requirements in paragraph 36 of Prudential Standard GPS 112. Assets Insurance Reinsurance Do Not Meet Documentation Test GPS 112 Net Amount This is the value, as at the relevant date, of reinsurance assets receivable under each reinsurance contract entered into by the insurer incepting on or after 31 December 2008 that do not meet the requirements of paragraph 31 of Prudential Standard GPS 230 Reinsurance Management. Assets Insurance Reinsurance Do Not Meet Governing Law Requirement GPS 230 Amount This is the value, net of any provisions for impairment, of any asset recognised by the reporting party as at the relevant date that relates to reinsurance. Assets Insurance Reinsurance Net Amount This is a balancing item in the list in which it is being used. This is the value, as at the relevant date, of any asset recognised by the reporting party that relates to reinsurance, other than those relating to: - Reinsurance recoverables, being any amounts due to the reporting party under a reinsurance arrangement that arise from the recognition of Outstanding Claims Liabilities in accordance with capital and prudential standards; - Expected Reinsurance and Non Reinsurance Recoveries, being any amounts due to the reporting party, whether under a reinsurance arrangement or not, that arise from the recognition of Premiums Liabilities in accordance with capital and prudential standards; or - Deferred Reinsurance Expense, as determined in accordance with accounting standards. Assets Insurance Reinsurance Other GRF301G Amount This is a balancing item in the list in which it is being used. This is the value gross of any provisions for impairment, as at the relevant date, of any asset recognised by the reporting party that relates to reinsurance, other than those relating to: - Reinsurance recoverables, being any amounts due to the reporting party under a reinsurance arrangement that arise from the recognition of Outstanding Claims Liabilities in accordance with capital and prudential standards; or - Deferred Reinsurance Expense, as determined in accordance with accounting standards. Assets Insurance Reinsurance Other GRF301L Gross Amount This is the value of provisions for impairment, as at the relevant date, in relation to any asset recognised by the reporting party that relates to reinsurance, other than those relating to: - Reinsurance recoverables, being any amounts due to the reporting party under a reinsurance arrangement that arise from the recognition of Outstanding Claims Liabilities in accordance with capital and prudential standards; or - Deferred Reinsurance Expense, as determined in accordance with accounting standards. Assets Insurance Reinsurance Other GRF301L Impairment Amount This is a balancing item in the list in which it is being used. This is the value, as at the relevant date and net of any provisions for impairment, of any asset recognised by the reporting party that relates to reinsurance, other than those relating to: - Reinsurance recoverables, being any amounts due to the reporting party under a reinsurance arrangement that arise from the recognition of Outstanding Claims Liabilities in accordance with capital and prudential standards; or - Deferred Reinsurance Expense, as determined in accordance with prudential standards. Assets Insurance Reinsurance Other GRF301L Net Amount This is a balancing item in the list in which it is being used. This is the value, as at the relevant date, of any asset recognised by the reporting party that relates to reinsurance, where the reporting party has complied with the threshold levels of reinsurance documentation set out in the relevant prudential standards, other than those relating to: - Reinsurance recoverables, being any amounts due to the reporting party under a reinsurance arrangement that arise from the recognition of Outstanding Claims Liabilities in accordance with capital and prudential standards; - Expected Reinsurance and Non Reinsurance Recoveries, being any amounts due to the reporting party, whether under a reinsurance arrangement or not, that arise from the recognition of Premiums Liabilities in accordance with capital and prudential standards; or - Deferred Reinsurance Expense, as determined in accordance with accounting standards. Assets Insurance Reinsurance Other GRF301 Meet Doc Test Amount This is a balancing item in the list in which it is being used. This is the value, as at the relevant date, of any asset recognised by the reporting party that relates to reinsurance, where the reporting party has not complied with the threshold levels of reinsurance documentation set out in the relevant prudential standards, other than those relating to: - Reinsurance recoverables, being any amounts due to the reporting party under a reinsurance arrangement that arise from the recognition of Outstanding Claims Liabilities in accordance with capital and prudential standards; - Expected Reinsurance and Non Reinsurance Recoveries, being any amounts due to the reporting party, whether under a reinsurance arrangement or not, that arise from the recognition of Premiums Liabilities in accordance with capital and prudential standards; or - Deferred Reinsurance Expense, as determined in accordance with accounting standards. Assets Insurance Reinsurance Other GRF301 Not Meet Doc Test Amount This is the value of provisions for doubtful debts (impairment), as at the relevant date, for reinsurance recoverables in relation to reinsurance contracts for both paid and outstanding claims against the reporting party. Reinsurance recoverables are any amounts due to the reporting party from a reinsurer that arise from the recognition of Outstanding Claims Liabilities in accordance with capital and prudential standards. Assets Insurance Reinsurance Recoverables Impairment Amount This is the value net of provisions for doubtful debts, as at the relevant date, of reinsurance recoverables in relation to reinsurance contracts for outstanding claims against the reporting party - i.e. those not yet paid by the reporting party to policyholders. Reinsurance recoverables are any amounts due to the reporting party under a reinsurance arrangement that arise from paid claims and the recognition of Outstanding Claims Liabilities in accordance with capital and prudential standards. Assets Insurance Reinsurance Recoverables Outstanding Claims Net Amount This is the value net of provisions for doubtful debts, as at the relevant date, of reinsurance recoverables in relation reinsurance contracts for claims paid by the reporting party. Reinsurance recoverables are any amounts due to the reporting party under a reinsurance arrangement that arise from the recognition of Outstanding Claims Liabilities in accordance with capital and prudential standards. Assets Insurance Reinsurance Recoverables Paid Claims Net Amount This is the value gross of provisions for doubtful debts, as at the relevant date, of reinsurance recoverables in relation to reinsurance contracts for both paid and outstanding claims against the reporting party. Reinsurance recoverables are any amounts due to the reporting party from a reinsurer that arise from the recognition of Outstanding Claims Liabilities in accordance with capital and prudential standards. Assets Insurance Reinsurance Recoverables Paid Outstanding Claims Gross Amount This is the value, as at the relevant date, net of provisions for doubtful debts, of reinsurance recoverables in relation to reinsurance contracts for both paid and outstanding claims against the reporting party where the reporting party has complied with the threshold levels of reinsurance documentation set out in the relevant prudential standards. Reinsurance recoverables are any amounts due to the reporting party under a reinsurance arrangement that arise from paid claims and the recognition of Outstanding Claims Liabilities in accordance with capital and prudential standards. Assets Insurance Reinsurance Recoverables Paid Outstanding Claims Meet Doc Test Net Amount This is the value net of provisions for doubtful debts, as at the relevant date, of reinsurance recoverables in relation to reinsurance contracts for both paid and outstanding claims against the reporting party. Reinsurance recoverables are any amounts due to the reporting party under a reinsurance arrangement that arise from the recognition of Outstanding Claims Liabilities in accordance with capital and prudential standards. Assets Insurance Reinsurance Recoverables Paid Outstanding Claims Net Amount This is the value net of provisions for doubtful debts, as at the relevant date, of reinsurance recoverables in relation to reinsurance contracts for both paid and outstanding claims against the reporting party where the reporting party has not complied with the threshold levels of reinsurance documentation set out in the relevant prudential standards. Reinsurance recoverables are any amounts due to the reporting party under a reinsurance arrangement that arise from the recognition of Outstanding Claims Liabilities in accordance with capital and prudential standards. Assets Insurance Reinsurance Recoverables Paid Outstanding Claims Not Meet Doc Test Net Amount This is the value, as at the relevant date, of recoveries, other than reinsurance recoveries, receivable by the reporting party in relation to outstanding (unpaid) claims, gross of any provisions for depreciation or impairment. This item is to be determined in accordance with relevant reporting standards. Recoveries to be included at this item include salvage, subrogation, and input tax credit recoveries, amongst others. Assets Insurance Prospective Recoveries Not Reinsurance Outstanding Claims Provision Gross Amount This is the value, as at the relevant date, of reinsurance recoverables, being amounts due to the reporting party under a reinsurance arrangement that arise from the recognition of Outstanding Claims Liabilities in accordance with relevant reporting standards. The value must be reported net of any provisions for doubtful debts. Assets Insurance Prospective Recoveries Reinsurance Outstanding Claims Provision Gross Amount This is, for the duration of the relevant period, the average balance of other interest bearing liabilities, as required to be reported on APRA forms ARF_330_1_L and ARF_330_1_C. The average may be calculated by any method consistent with internal systems of the reporting entity. Liabilities Average Balance Of Interest Bearing Liabilities Other ARF 330 1 Amount This is the value of the High Quality Liquid Assets (HQLA) Liability Base determined in accordance with prudential standards. This is calculated as the Total Liabilities plus Shareholders Equity as determined in accordance with accounting standards; less the Eligible Capital Base. The Eligible Capital Base is comprised of the Total Capital Base as determined in accordance with prudential standards; less the value of Adjusted HQLA Placements. Adjusted HQLA Placements are calculated as follows: If the total deposits placed with the reporting party by other Approved Deposit-taking Institutions (ADIs) exceed the amount of total deposits the reporting party has placed with ADIs, then this amount is the total deposits the reporting party has placed with other ADIs (i.e. deposit assets), otherwise it is the total deposits placed with the reporting party (i.e. deposit liabilities) by other ADIs. Liabilities Exposures HQLA Liability Base Amount This is the value of gross case estimates included in the outstanding claims provisions as at the relevant date. For the purposes of this item, case estimates must be reported: - as the balance outstanding at the relevant date; - gross of reinsurance recoveries; - net of non-reinsurance recoveries; and - excluding IBNR/IBNER, claims handling expenses and risk margins. Liabilities Insurance Case Estimates Gross Reinsurance Recoveries And Net Non Reinsurance Recoveries Amount This is the value of net case estimates included in the outstanding claims provision as at the relevant date. For the purposes of this item, case estimates must be reported: - as the balance outstanding at the relevant date; - net of reinsurance recoveries; - net of non-reinsurance recoveries; and - excluding IBNR/IBNER, claims handling expenses and risk margins. Liabilities Insurance Case Estimates Net Reinsurance And Non Reinsurance Recoveries Amount This is the value of claims handling expenses on net outstanding claims. This includes the claims handling expense allowance in the net actuarial central estimate of outstanding claims. Liabilities Insurance Claims Handling On Net Outstanding Claims Amount This is the value of gross outstanding insurance claims, as at the relevant date. This item represents the total gross ultimate cost (inflated & undiscounted) of claims, less gross claim payments, as at the relevant date. Liabilities Insurance Claims Outstanding Gross Amount This is the value of net outstanding insurance claims as at the relevant date. This item represents the total net ultimate cost (inflated & undiscounted) of claims as at the relevant date, less net claims payment expenses recognised during the relevant period. Liabilities Insurance Claims Outstanding Net Amount This is the value, as at the relevant date, of amounts payable by the reporting party on reinsurance contracts, classified current as per relevant accounting standards. For the purposes of this item, include the net amount payable by the insurer to reinsurers or retrocessionaires where a legal right of set-off exists. This reflects the current working balance due for settlement. Include premiums payable but not yet due for payment under the terms of the reinsurance contracts and deposits withheld from reinsurers which should correspond to the recognition of DRE under prudential standards and represent the total premium payable under reinsurance contracts. Include items such as the reinsurer's portion of recoveries and salvage and commissions due to reinsurers. Liabilities Insurance Current Payable On Reinsurance Contracts Amount This is the value of discounting on net outstanding claims. This includes the impact of discounting the net actuarial central estimate of outstanding claims (excluding claims handling expenses). Liabilities Insurance Discounting On Net Outstanding Claims Amount This is the amount, as at the relevant date, by which the premiums liabilities technical provision determined in accordance with accounting standards exceeds (or is in deficit of) the net premiums liability determined in accordance with prudential standards. Liabilities Insurance Excess Technical Provisions Premiums Liability Surplus Deficit Amount This is the value of gross claims incurred but not reported (IBNR)/incurred but not enough reported (IBNER) included in the outstanding claims provision as at the relevant date. For the purposes of this item, the IBNR/IBNER must be reported: - as the balance outstanding at the relevant date; - inflated and undiscounted; - gross of reinsurance recoveries; - net of non-reinsurance recoveries; - excluding claims handling expenses; and - as the central estimate only (i.e. do not include a risk margin). Liabilities Insurance Incurred But Not Reported Gross Reinsurance Recoveries And Net Non Reinsurance Recoveries Amount This is the value of net claims incurred but not reported (IBNR)/incurred but not enough reported (IBNER) included in the outstanding claims provision as at the relevant date. For the purposes of this item, the IBNR/IBNER must be reported: - as the balance outstanding at the relevant date; - inflated and undiscounted; - net of reinsurance recoveries; - net of non-reinsurance recoveries; - excluding claims handling expenses; and - as the central estimate only (i.e. do not include a risk margin). Liabilities Insurance Incurred But Not Reported Net Reinsurance And Non Reinsurance Recoveries Amount This is the amount, as at the relevant date, of liabilities net of surplus/deficit relating to insurance liabilities. Liabilities Insurance Net Of Surplus Deficit Relating To Insurance Liabilities Amount This is a balancing item in the list in which it is being used, calculated as the (DR - UPL) - (DE - DAC - DRE) where: DR = Deferred Revenue which are all unearned revenues that represent income used to meet the costs of future claims that will arise under current general insurance contracts that have been deferred in accordance with the relevant accounting standards. This includes deferred reinsurance exchange commission and unearned commission revenue. UPL = Unearned Premium Liability as determined in accordance with the relevant accounting standards. DE = Deferred Expenses which are all capitalised costs relating to the unearned portion of premium revenue (net of any write-downs resulting from the liability adequacy test), or relating to the deferred portion of existing outwards reinsurance arrangements (for deferred outwards reinsurance expenses), that have been deferred and recognised in accordance with the relevant accounting standards. This includes Deferred Acquisition Costs (DAC) and Deferred Reinsurance Expense (DRE) as determined in accordance with the relevant accounting standards. DAC = Deferred Acquisition Costs as determined in accordance with the relevant accounting standards. DRE = Deferred Reinsurance Expense as determined in accordance with the relevant accounting standards. Liabilities Insurance Net Premium Other GRF210 1 Amount This is a description of the items comprising the balancing item in APRA form GRF210.1, and includes items of revenue and expense that are not included elsewhere. This is comprised of, Deferred Revenue items not included elsewhere, which are any unearned revenues that represent income used to meet the costs of future claims that will arise under current general insurance contracts that have been deferred in accordance with the relevant accounting standards. This includes deferred reinsurance exchange commission and unearned commission revenue; Deferred levies and charges as determined in accordance with the relevant accounting standards; and Deferred Expenses not included elsewhere, which are any capitalised costs relating to the unearned portion of premium revenue (net of any write-downs resulting from the liability adequacy test), or relating to the deferred portion of existing outwards reinsurance arrangements (for deferred outwards reinsurance expenses), that have been deferred and recognised in accordance with the relevant accounting standards. Liabilities Insurance Net Premium Other GRF210 1 Description This is the value, as at the relevant date, of amounts payable by the reporting party on reinsurance contracts, classified non-current as per relevant accounting standards. For the purposes of this item, include the net amount payable by the insurer to reinsurers or retrocessionaires where a legal right of set-off exists. This reflects the current working balance due for settlement. Include premiums payable but not yet due for payment under the terms of the reinsurance contracts and deposits withheld from reinsurers which should correspond to the recognition of DRE under prudential standards and represent the total premium payable under reinsurance contracts. Include items such as the reinsurer's portion of recoveries and salvage and commissions due to reinsurers. Liabilities Insurance Non Current Payable On Reinsurance Contracts Amount This is the amount, as at the relevant date, of the outstanding claims provision (OCP) surplus/deficit and premiums liabilities surplus/deficit adjusted for tax effect. This item is calculated as A + B - C where: A = OCP surplus/deficit, being the outstanding claims provision (OCP), net of any recoveries, determined in accordance with accounting standards in excess/deficit of the equivalent figure determined in accordance with prudential standards. B = premium liabilities surplus/deficit, being the premium liability proxy calculated from figures determined in accordance with accounting standards in excess/deficit of the equivalent figure determined in accordance with prudential standards. This item includes deferred reinsurance expense for future policies. C = tax effect of net OCP and premiums liabilities surplus/deficit, being of the tax effect relating to the OCP surplus/deficit and premiums liabilities surplus/deficit (i.e. the corporate tax rate multiplied by the net amount). Liabilities Insurance Outstanding Claims Provision And Premiums Liabilities Net Surplus Deficit After Tax Effect Adjustment Amount This is the amount, as at the relevant date, of the tax effect relating to the outstanding claims provision (OCP) surplus/deficit and premiums liabilities surplus/deficit (i.e. the corporate tax rate multiplied by the net amount). An OCP surplus/deficit results if the OCP net of any recoveries, determined in accordance with accounting standards exceeds (or is in deficit of) the equivalent figure determined in accordance with prudential standards. A premium liabilities surplus/deficit results if the premium liability proxy calculated from figures determined in accordance with accounting standards exceeds (or is in deficit of) the equivalent figure determined in accordance with prudential standards. Liabilities Insurance Outstanding Claims Provision And Premiums Liabilities Net Surplus Deficit Tax Effect Adjustment Amount This is the value, as at the relevant date, of the outstanding claims provision (OCP), gross of any recoveries, determined in accordance with relevant prudential standards. The OCP relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCP must not include any Government charges directly imposed on the insurer such as levies, duties and taxes, but must be gross of input tax credit recoveries. The OCP will be measured as the present value of the future expected payments, i.e. discounted for future investment income, plus a risk margin determined in accordance with relevant prudential standards. Liabilities Insurance Outstanding Claims Provision Gross Amount This is the value, as at the relevant date, of the central estimate component of outstanding claims provision (OCP), gross of any recoveries, determined in accordance with relevant prudential standards. OCP relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCP must not include any Government charges directly imposed on the insurer such as levies, duties and taxes, but must be gross of input tax credit recoveries. The central estimate will be measured as the present value of the future expected payments, i.e. discounted for future investment income, determined in accordance with relevant prudential standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and so does not include any risk margin. Liabilities Insurance Outstanding Claims Provision Gross Central Estimate Amount This is a balancing item calculated as A - (B+C), where: A = central estimate component of outstanding claims provision (OCP) - Total consolidated Level 2 B = central estimate component of outstanding claims provision (OCP) - Total direct business partially consolidated C = central estimate component of outstanding claims provision (OCP) - Total reinsurance business partially consolidated For the purposes of this item the OCP central estimate component is reported as at the relevant date gross of any recoveries, determined in accordance with relevant prudential standards. OCP relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCP must not include any Government charges directly imposed on the insurer such as levies, duties and taxes, but must be gross of input tax credit recoveries. The central estimate will be measured as the present value of the future expected payments, i.e. discounted for future investment income, determined in accordance with relevant prudential standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and so does not include any risk margin. Liabilities Insurance Outstanding Claims Provision Gross Central Estimate Group Adjustments Amount This is a balancing item calculated as A - (B+C), where: A = outstanding claims provision (OCP) - Total consolidated Level 2 B = outstanding claims provision (OCP) - Total direct business partially consolidated C = outstanding claims provision (OCP) - Total reinsurance business partially consolidated For the purposes of this item OCP is reported as at the relevant date gross of any recoveries, determined in accordance with relevant prudential standards. OCP relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCP must not include any Government charges directly imposed on the insurer such as levies, duties and taxes, but must be gross of input tax credit recoveries. The OCP will be measured as the present value of the future expected payments, i.e. discounted for future investment income, plus a risk margin determined in accordance with relevant prudential standards. Liabilities Insurance Outstanding Claims Provision Gross Group Adjustments Amount This is the value, as at the relevant date, of the risk margin component of outstanding claims provision (OCP), gross of any recoveries, determined in accordance with relevant prudential standards. OCP relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCP must not include any Government charges directly imposed on the insurer such as levies, duties and taxes, but must be gross of input tax credit recoveries. The risk margin is the component of the value of OCP that relates to the inherent uncertainty that outcomes will differ from the central estimate. The risk margin relates to the central estimate measured as the present value of the future expected payments gross of any recoveries, i.e. discounted for future investment income, determined in accordance with relevant prudential standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and the risk margin, when added to the central estimate, is intended to increase the likelihood that the OCP will be sufficient to the level required in relevant prudential standards. Liabilities Insurance Outstanding Claims Provision Gross Risk Margin Amount This is a balancing item calculated as A - (B+C), where: A = risk margin component of outstanding claims provision (OCP) - Total consolidated Level 2 B = risk margin component of outstanding claims provision (OCP) - Total direct business partially consolidated C = risk margin component of outstanding claims provision (OCP) - Total reinsurance business partially consolidated For the purposes of this item the OCP risk margin component is reported as at the relevant date gross of any recoveries, determined in accordance with relevant prudential standards. The risk margin must be assessed at the level specified by APRA for capital purposes; this may not be the same risk margin used for other purposes such as statutory accounts. OCP relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCP must not include any Government charges directly imposed on the insurer such as levies, duties and taxes, but must be gross of input tax credit recoveries. The risk margin is the component of the value of OCP that relates to the inherent uncertainty that outcomes will differ from the central estimate. The risk margin relates to the central estimate measured as the present value of the future expected payments gross of any recoveries, i.e. discounted for future investment income, determined in accordance with relevant prudential standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and the risk margin, when added to the central estimate, is intended to increase the likelihood that the OCP will be sufficient to the level required in relevant prudential standards. Liabilities Insurance Outstanding Claims Provision Gross Risk Margin Group Adjustments Amount This is the value, as at the relevant date, of the outstanding claims provision (OCP), net of any recoveries that relate to the gross OCP, as determined in accordance with relevant prudential standards. OCP relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCP must not include any Government charges directly imposed on the insurer such as levies, duties and taxes. The OCP will be measured as the present value of the future expected net payments, i.e. discounted for future investment income, plus a risk margin determined in accordance with relevant prudential standards. Liabilities Insurance Outstanding Claims Provision Net Amount This is the value, as at the relevant date, of the outstanding claims provision (OCP) liability, net of any recovery assets that relate to the gross OCP (including reinsurance recoveries, GST recoveries and other recoveries). Assets and liabilities are as determined in accordance with relevant Accounting Standards. Liabilities Insurance Outstanding Claims Provision Net Accounting Amount This is the value, as at the relevant date, of the central estimate component of outstanding claims provision (OCP), net of any recoveries that relate to the gross OCP, determined in accordance with relevant prudential standards. OCP relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCP must not include any Government charges imposed such as levies, duties and taxes. The central estimate will be measured as the present value of the future expected payments i.e. discounted for future investment income, determined in accordance with relevant prudential standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and so does not include any risk margin. Liabilities Insurance Outstanding Claims Provision Net Central Estimate Amount This is a balancing item calculated as A - (B+C) where: A = central estimate component of outstanding claims provision (OCP) - Total consolidated Level 2 B = central estimate component of outstanding claims provision (OCP) - Total direct business partially consolidated C = central estimate component of outstanding claims provision (OCP) - Total reinsurance business partially consolidated For the purposes of this item OCP is reported as at the relevant date net of any recoveries, determined in accordance with relevant prudential standards. OCP relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims The value of OCP must not include any Government charges directly imposed on the insurer such as levies, duties and taxes. The central estimate will be measured as the present value of the future expected payments i.e. discounted for future investment income, determined in accordance with relevant prudential standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and so does not include any risk margin. Liabilities Insurance Outstanding Claims Provision Net Central Estimate Group Adjustments Amount This is a balancing item calculated as A - (B+C), where: A = outstanding claims provision (OCP) - Total consolidated Level 2 B = outstanding claims provision (OCP) - Total direct business partially consolidated C = outstanding claims provision (OCP) - Total reinsurance business partially consolidated For the purposes of this item OCP is reported as at the relevant date net of any recoveries that relate to the gross OCP, determined in accordance with relevant prudential standards. OCP relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCP must not include any Government charges directly imposed on the insurer such as levies, duties and taxes. The OCP will be measured as the present value of the future expected net payments, i.e. discounted for future investment income, plus a risk margin determined in accordance with relevant prudential standards. Liabilities Insurance Outstanding Claims Provision Net Group Adjustments Amount This is the value, as at the relevant date, of the outstanding claims provision (OCP), net of any related recoveries, determined in accordance with relevant accounting standards, but not discounted as required by those accounting standards. OCP relates to all claims incurred in the relevant accident or underwriting year prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCP must not include any Government charges imposed such as levies, duties and taxes. Liabilities Insurance Outstanding Claims Provision Net Not Discounted Amount This is the value, as at the relevant date, of the risk margin component of outstanding claims provision (OCP), net of any recoveries, determined in accordance with relevant prudential standards. This includes the APRA risk margin (75% probability of sufficiency including diversification benefits) included in the net outstanding claims provision. OCP relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCP must not include any Government charges directly imposed on the insurer such as levies, duties and taxes. The risk margin is the component of the value of OCP that relates to the inherent uncertainty that outcomes will differ from the central estimate. The risk margin relates to the central estimate measured as the present value of the future expected payments net of any recoveries, i.e. discounted for future investment income, determined in accordance with relevant prudential standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and the risk margin, when added to the central estimate, is intended to increase the likelihood that the OCP will be sufficient to the level required in relevant prudential standards. Liabilities Insurance Outstanding Claims Provision Net Risk Margin Amount This is a balancing item calculated as A - (B+C) where: A = risk margin component of outstanding claims provision (OCP) - Total consolidated Level 2 B = risk margin component of outstanding claims provision (OCP) - Total direct business partially consolidated C = risk margin component of outstanding claims provision (OCP) - Total reinsurance business partially consolidated For the purposes of this item the risk margin component of the OCP is reported as at the relevant date, net of any recoveries, determined in accordance with relevant prudential standards. OCP relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCP must not include any Government charges directly imposed on the insurer such as levies, duties and taxes. The risk margin is the component of the value of OCP that relates to the inherent uncertainty that outcomes will differ from the central estimate. The risk margin relates to the central estimate measured as the present value of the future expected payments net of any recoveries, i.e. discounted for future investment income, determined in accordance with relevant prudential standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and the risk margin, when added to the central estimate, is intended to increase the likelihood that the OCP will be sufficient to the level required in relevant prudential standards. Liabilities Insurance Outstanding Claims Provision Net Risk Margin Group Adjustments Amount This is the amount, as at the relevant date, by which the outstanding claims provision (OCP), net of any recoveries, determined in accordance with accounting standards exceeds (or is in deficit of) the equivalent figure determined in accordance with prudential standards. OCP relates to all claims incurred prior to the valuation date, whether or not they have been reported to the insurer. The value of the OCP must include an amount in respect of the expenses that the insurer expects to incur in settling these claims. The value of OCP must not include any Government charges directly imposed on the insurer such as levies, duties and taxes. Liabilities Insurance Outstanding Claims Provision Net Surplus Deficit Amount This is the value, as at the relevant date, of amounts payable by the reporting party on reinsurance contracts. For the purposes of this item, include the net amount payable by the insurer to reinsurers or retrocessionaires where a legal right of set-off exists. This reflects the current working balance due for settlement. Include premiums payable but not yet due for payment under the terms of the reinsurance contracts and deposits withheld from reinsurers which should correspond to the recognition of DRE under prudential standards and represent the total premium payable under reinsurance contracts. Include items such as the reinsurer's portion of recoveries and salvage and commissions due to reinsurers. Liabilities Insurance Payable On Reinsurance Contracts Amount This is the value, as at the relevant date, of the gross premium liabilities, calculated as UPL - DAC, where UPL = Unearned Premium Liability as determined in accordance with the relevant accounting standards. DAC = Deferred Acquisition Costs as determined in accordance with the relevant accounting standards. Liabilities Insurance Premium Liabilities Gross Accounting Amount This is the value, as at the relevant date, of the risk charge calculated as A+B, where: A = The risk charge calculated on future net premium income in relation to insurance contracts to which the reporting party is committed and will expose the insurer to material risks, but for which the reporting party has not otherwise recognised a capital charge. Typically this charge will be for policies for which a written premium is not yet recognised under accounting standards, and have not been included in the premium liabilities, but for which the insurer has already committed to cover; and B = The risk charge calculated on premiums liabilities net of any recoveries, Both items are to be determined in accordance with relevant prudential standards. Liabilities Insurance Premium Risk Charge Amount This is the value, as at the relevant date, of the sum of the premiums liabilities gross of any recoveries determined in accordance with relevant prudential standards (Prudential Gross Premiums Liabilities) plus gross premiums liabilities determined in accordance with relevant accounting standards (Accounting Gross Premiums Liabilities). Prudential Gross Premiums Liabilities relate to all future claim payments arising from future events post the valuation date that will be insured under the reporting party's existing policies that have not yet expired, gross of any recoveries on those claims. The value of Prudential Gross Premium Liabilities must include an amount in respect of the expenses that the reporting entity expects to incur in administering and settling the relevant claims and allow for expected premium refunds. The value of prudential gross premiums liabilities must not include any Government charges directly imposed on the reporting party such as levies, duties and taxes and must be gross of input tax credit recoveries. Also a deferred acquisition cost asset must not be reported as part of Prudential Gross Premium Liabilities. The Prudential Gross Premium Liabilities will be measured as the present value of the future expected gross payments, i.e. discounted for future investment income, plus a risk margin determined in accordance with relevant prudential standards. The risk margin must be assessed at the level specified by APRA for capital purposes; this may not be the same risk margin used for other purposes. Accounting Gross Premiums Liabilities are calculated as UPL - DAC, where: UPL = Unearned Premium Liability as determined in accordance with the relevant accounting standards. DAC = Deferred Acquisition Costs as determined in accordance with the relevant accounting standards. Liabilities Insurance Premiums Liabilities Gross Amount This is the value, as at the relevant date, of the central estimate component of premiums liabilities, gross of any recoveries, determined in accordance with relevant prudential standards. Premiums liabilities relate to all future claim payments arising from future events post the valuation date that will be insured under the reporting party's existing policies that have not yet expired. The value of the premiums liabilities must include an amount in respect of the expenses that the reporting entity expects to incur in administering and settling the relevant claims and allow for expected premium refunds. The value of premiums liabilities must not include any Government charges directly imposed on the reporting party such as levies, duties and taxes, and must be gross of input tax credit recoveries. Also a deferred acquisition cost asset must not be reported. The central estimate will be measured as the present value of the future expected payments, i.e. discounted for future investment income, determined in accordance with relevant prudential standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and so does not include any risk margin. Liabilities Insurance Premiums Liabilities Gross Central Estimate Amount This is the value, as at the relevant date, of the premiums liabilities gross of any recoveries, determined in accordance with relevant prudential standards. Premiums liabilities relate to all future claim payments arising from future events post the valuation date that will be insured under the reporting party's existing policies that have not yet expired. The value of the premiums liabilities must include an amount in respect of the expenses that the reporting entity expects to incur in administering and settling the relevant claims and allow for expected premium refunds. The value of premiums liabilities must not include any Government charges directly imposed on the reporting party such as levies, duties and taxes and must be gross of input tax credit recoveries. Also a deferred acquisition cost asset must not be reported. The premium liabilities will be measured as the present value of the future expected payments, i.e. discounted for future investment income, plus a risk margin determined in accordance with relevant prudential standards. The risk margin must be assessed at the level specified by APRA for capital purposes; this may not be the same risk margin used for other purposes. Liabilities Insurance Premiums Liabilities Gross Prudential Amount This is the value, as at the relevant date, of the risk margin component of premiums liabilities, gross of any recoveries, determined in accordance with relevant prudential standards. The risk margin must be assessed at the level specified by APRA for capital purposes; this may not be the same risk margin used for other purposes such as statutory accounts. Premiums liabilities relate to all future claim payments arising from future events post the valuation date that will be insured under the reporting party's existing policies that have not yet expired. The value of the premiums liabilities must include an amount in respect of the expenses that the reporting entity expects to incur in administering and settling the relevant claims and allow for expected premium refunds. The value of premiums liabilities must not include any Government charges directly imposed on the insurer such as levies, duties and taxes, and must be gross of input tax credit recoveries. Also a deferred acquisition cost asset must not be reported. The risk margin is the component of the value of OCP that relates to the inherent uncertainty that outcomes will differ from the central estimate. The risk margin relates to the central estimate measured as the present value of the future expected payments , i.e. discounted for future investment income, determined in accordance with relevant prudential standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and the risk margin, when added to the central estimate, is intended to increase the likelihood that the premiums liabilities will be sufficient to the level required in relevant prudential standards. Liabilities Insurance Premiums Liabilities Gross Risk Margin Amount This is the value, as at the relevant date, of the sum of the premiums liabilities net of any recoveries determined in accordance with relevant prudential standards (Prudential Net Premiums Liabilities) plus Net Premiums Liabilities determined in accordance with relevant accounting standards (Accounting Net Premiums Liabilities). Prudential Net Premiums Liabilities relate to all future claim payments arising from future events post the valuation date that will be insured under the reporting party's existing policies that have not yet expired, net of any recoveries on those claims. The value of the Prudential Net Premium Liabilities must include an amount in respect of the expenses that the reporting entity expects to incur in administering and settling the relevant claims and allow for expected premium refunds. The value of prudential net premiums liabilities must not include any Government charges directly imposed on the reporting party such as levies, duties and taxes and must be gross of input tax credit recoveries. Also a deferred acquisition cost asset must not be reported as part of Prudential Net Premium Liabilities. The Prudential Net Premium Liabilities will be measured as the present value of the future expected payments net of any recoveries, i.e. discounted for future investment income, plus a risk margin determined in accordance with relevant prudential standards. The risk margin must be assessed at the level specified by APRA for capital purposes; this may not be the same risk margin used for other purposes. Accounting Net Premiums Liabilities are calculated as UPL - DAC - DRE + URL + other items, where: UPL = Unearned Premium Liability as determined in accordance with the relevant accounting standards. DAC = Deferred Acquisition Cost as determined in accordance with the relevant accounting standards. This represents the portion of acquisition costs that relate to the unearned portion of premium revenue and which are capitalised as a result. DRE = Deferred Reinsurance Expense as determined in accordance with the relevant accounting standards. This represents the portion of reinsurance expenses that relate to the unearned portion of premium revenue and which are capitalised as a result. URL = Unexpired Risk Liability as determined in accordance with the relevant accounting standards. Other items include anything else required under the relevant accounting standards to be included in the calculation of Net Premium Liabilities. Liabilities Insurance Premiums Liabilities Net Amount This is the value, as at the relevant date, of Net Premiums Liabilities calculated as UPL - DAC - DRE + URL + other items, where: UPL = Unearned Premium Liability as determined in accordance with the relevant accounting standards. DAC = Deferred Acquisition Cost as determined in accordance with the relevant accounting standards. This represents the portion of acquisition costs that relate to the unearned portion of premium revenue and which are capitalised as a result. DRE = Deferred Reinsurance Expense as determined in accordance with the relevant accounting standards. This represents the portion of reinsurance expenses that relate to the unearned portion of premium revenue and which are capitalised as a result. URL = Unexpired Risk Liability as determined in accordance with the relevant accounting standards. Other items include anything else required under the relevant accounting standards to be included in the calculation of Net Premium Liabilities. Liabilities Insurance Premiums Liabilities Net Accounting Amount This is the value, as at the relevant date, of the sum of premiums liabilities net of any recoveries, determined in accordance with relevant prudential standards (Prudential Net Premium Liabilities) plus Net Premium Liabilities after adjustments for LAT sufficiency, determined in accordance with relevant accounting standards (Adjusted Accounting NPL) . Prudential Net Premium Liabilities relates to all future claim payments arising from future events post the valuation date that will be insured under the reporting party's existing policies that have not yet expired, net of any recoveries on those claims. The value of the Prudential Net Premium Liabilities must include an amount in respect of the expenses that the reporting entity expects to incur in administering and settling the relevant claims and allow for expected premium refunds. The value of Prudential Net Premium Liabilities must not include any Government charges directly imposed on the insurer such as levies, duties and taxes, and must be net of input tax credit recoveries. Also a deferred acquisition cost asset must not be reported as part of Prudential Premium Liabilities. The Prudential Net Premium Liabilities will be measured as the present value of the future expected payments net of any recoveries, i.e. discounted for future investment income, plus a risk margin determined in accordance with relevant prudential standards. The risk margin must be assessed at the level specified by APRA for capital purposes; this may not be the same risk margin used for other purposes. Adjusted Accounting NPL is calculated as UPL - DE + DR + URL + TPD where: UPL = Unearned Premium Liability as determined in accordance with the relevant accounting standards. DE = Deferred Expenses which are any capitalised costs relating to the unearned portion of premium revenue (net of any write-downs resulting from the liability adequacy test), or relating to the deferred portion of existing outwards reinsurance arrangements (for deferred outwards reinsurance expenses), that have been deferred and recognised in accordance with the relevant accounting standards. This includes Deferred Acquisition Costs (DAC) and Deferred Reinsurance Expense (DRE) as determined in accordance with the relevant accounting standards. DR = Deferred Revenue which are any unearned revenues (other than UPL) that represent income used to meet the costs of future claims that will arise under current general insurance contracts that have been deferred in accordance with the relevant accounting standards. This includes deferred reinsurance exchange commission and unearned commission revenue. URL = Unexpired Risk Liability as determined in accordance with the relevant accounting standards. TPD = Technical Provision Deficiency recognised in premium liability valuations as a result of Liability Adequacy Test determined in accordance with relevant prudential standards. Liabilities Insurance Premiums Liabilities Net Adjusted Amount This is the value, as at the relevant date, of net premiums liabilities net of any adjustments, calculated as TPD + UPL - DE + DR + URL where: TPD = Technical Provision Deficiency recognised in premium liability valuations as a result of Liability Adequacy Test determined in accordance with relevant prudential standards. UPL = Unearned Premium Liability as determined in accordance with the relevant accounting standards. DE = Deferred Expenses which are any capitalised costs relating to the unearned portion of premium revenue (net of any write-downs resulting from the liability adequacy test), or relating to the deferred portion of existing outwards reinsurance arrangements (for deferred outwards reinsurance expenses), that have been deferred and recognised in accordance with the relevant accounting standards. This includes Deferred Acquisition Costs (DAC) and Deferred Reinsurance Expense (DRE) as determined in accordance with the relevant accounting standards. DR = Deferred Revenue which are any unearned revenues (other than UPL) that represent income used to meet the costs of future claims that will arise under current general insurance contracts that have been deferred in accordance with the relevant accounting standards. This includes deferred reinsurance exchange commission and unearned commission revenue. URL = Unexpired Risk Liability as determined in accordance with the relevant accounting standards. Liabilities Insurance Premiums Liabilities Net Adjusted Prudential Amount This is the value, as at the relevant date, of the central estimate component of premiums liabilities, net of any recoveries, determined in accordance with relevant prudential standards. Premiums liabilities relate to all future claim payments arising from future events post the valuation date that will be insured under the reporting party's existing policies that have not yet expired. The value of the premiums liabilities must include an amount in respect of the expenses that the reporting entity expects to incur in administering and settling the relevant claims and allow for expected premium refunds. The value of premiums liabilities must not include any Government charges directly imposed on the reporting party such as levies, duties and taxes, but should be net of input tax credit recoveries. Also a deferred acquisition cost asset must not be reported. The central estimate will be measured as the present value of the future expected payments, i.e. discounted for future investment income, determined in accordance with relevant prudential standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes) , and so does not include any risk margin. Liabilities Insurance Premiums Liabilities Net Central Estimate Amount This is the value, as at the relevant date, of the premiums liabilities net of any recoveries, determined in accordance with relevant prudential standards. Premiums liabilities relate to all future claim payments arising from future events post the valuation date that will be insured under the reporting party's existing policies that have not yet expired. The value of the premiums liabilities must include an amount in respect of the expenses that the reporting entity expects to incur in administering and settling the relevant claims and allow for expected premium refunds. The value of premiums liabilities must not include any Government charges directly imposed on the insurer such as levies, duties and taxes, and must be net of input tax credit recoveries. Also a deferred acquisition cost asset must not be reported. The premium liabilities will be measured as the present value of the future expected payments, i.e. discounted for future investment income, plus a risk margin determined in accordance with relevant prudential standards. The risk margin must be assessed at the level specified by APRA for capital purposes; this may not be the same risk margin used for other purposes. Liabilities Insurance Premiums Liabilities Net Prudential Amount This is the value, as at the relevant date, of the risk margin component of premiums liabilities, net of any recoveries, determined in accordance with relevant prudential standards. The risk margin must be assessed at the level specified by APRA for capital purposes; this may not be the same risk margin used for other purposes such as statutory accounts. Premiums liabilities relate to all future claim payments arising from future events post the valuation date that will be insured under the reporting party's existing policies that have not yet expired. The value of the premiums liabilities must include an amount in respect of the expenses that the reporting entity expects to incur in administering and settling the relevant claims and allow for expected premium refunds. The value of premiums liabilities must not include any Government charges directly imposed such as levies, duties and taxes. Also a deferred acquisition cost asset must not be reported. The risk margin is the component of the value of premiums liabilities that relates to the inherent uncertainty that outcomes will differ from the central estimate. The risk margin relates to the central estimate measured as the present value of the future expected payments net of any recoveries i.e. discounted for future investment income, determined in accordance with relevant prudential standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and the risk margin, when added to the central estimate, is intended to increase the likelihood that the premiums liabilities will be sufficient to the level required in relevant prudential standards. Liabilities Insurance Premiums Liabilities Net Risk Margin Amount This is the amount, as at the relevant date, by which the premiums liabilities determined in accordance with accounting standards exceeds (or is in deficit of) the equivalent figure determined in accordance with prudential standards. Liabilities Insurance Premiums Liabilities Net Surplus Deficit Amount This is the amount, as at the relevant date, by which the premium liability proxy calculated from figures determined in accordance with accounting standards exceeds (or is in deficit of) the equivalent figure determined in accordance with prudential standards. This item is calculated after adjusting for the deferred reinsurance expense for future policies. Liabilities Insurance Premiums Liabilities Net Surplus Deficit Including Deferred Reinsurance Future Policies Amount This is the value, as at the relevant date, of future net written premium income for contracts for which the insurer is already committed that will expose the insurer to material risks in the subsequent relevant period, but are not otherwise recognised within the capital requirements. Typically this will be for policies for which a written premium is not yet recognised under accounting standards, and have not been included in the premium liabilities, but for which the insurer has already committed to cover. Liabilities Insurance Premium Unbooked Amount This is the value, as at the relevant date, of insurance liabilities that are supported by charges or encumbrances granted over assets of the reporting party. Liabilities Insurance Supported Amount This is the value, as at the relevant date, of deficiency recognised in premium liability valuations due to the application of Liability Adequacy Test (LAT) as determined in accordance with relevant prudential standards. Liabilities Insurance Technical Provision Deficiency Amount This is the value, as at the relevant date, of excess technical provisions calculated as UPL - (DRE + DAC) + URL - NPL, where: UPL = Unearned Premium Liability as determined in accordance with the relevant accounting standards. DRE = Deferred Reinsurance Expense (DRE) as determined in accordance with the relevant accounting standards. DAC = Deferred Acquisition Costs after writing down for the Liability Adequacy Test as determined in accordance with the relevant accounting standards. URL = Unexpired Risk Liability as determined in accordance with the relevant accounting standards. NPL = Premiums Liability net of recoveries, determined in accordance with the relevant prudential standards. Recoveries are determined in accordance with relevant prudential standards they are sum of expected reinsurance recoveries and non-reinsurance recoveries. Liabilities Insurance Technical Provision Excess Amount This is the amount, as at the relevant date, of technical provisions in excess of liability valuation, calculated as A + B, where: A = technical provisions in excess of liability valuation on Outstanding Claims Provision (OCP), being the amount by which the outstanding claims provision (OCP), net of any recoveries, determined in accordance with accounting standards exceeds (or is in deficit of) the equivalent figure determined in accordance with prudential standards; and B = excess technical provisions on premiums liabilities, being the amount by which the premium liability proxy calculated from figures determined in accordance with prudential standards exceeds (or is in deficit of) the technical provision determined in accordance with accounting standards. Liabilities Insurance Technical Provisions In Excess Of Liability Valuation Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Liabilities Insurance Total Outstanding Insurance Claims Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Liabilities Insurance Total Unearned Premiums Amount For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference Liabilities Insurance Total Unexpired Risk Amount This is the value of premium income received in advance which is still unearned and is classified as a liability to the entity. Unearned premium income is that portion of the written premium applicable to the unused part of the period for which the premium has been paid. Premiums, as defined by the Australian Accounting Standards, are amounts charged in relation to accepting risk from the insured, but does not include amounts collected on behalf of third parties. Liabilities Insurance Unearned Premium Income Amount This is the value, as at the relevant date, of premium income received in advance which is still unearned and is classified as a liability to the entity. For the purposes of this item, exclude the unearned portion of premium that relates to fire services levy or other levies imposed by state and territory governments. Unearned premium income is that portion of the written premium applicable to the unused part of the period for which the premium has been paid. Thus, in the case of an annual premium, at the end of the first month of the premium period, eleven-twelfths of the premium is unearned. Premiums, as defined by the Australian Accounting Standards, are amounts charged in relation to accepting risk from the insured, but does not include amounts collected on behalf of third parties. Liabilities Insurance Unearned Premium Income Excluding Fire Service Or Other Government Levy Amount This is the value, as at the relevant date, of the outstanding claims liability (OCL), gross of any recoveries, determined in accordance with relevant reporting standards. The OCL relates to all claims incurred prior to the valuation date, whether or not they have been reported to the reporting party. The value of the OCL must include an amount in respect of the expenses that the reporting party expects to incur in settling these claims. The value of OCL must not include any Government charges directly imposed on the reporting party such as levies, duties and taxes, but must be gross of input tax credit recoveries. The OCL will be measured as the present value of the future expected payments, i.e. discounted for future investment income, plus a risk margin determined in accordance with relevant reporting standards. Liabilities Insurance Prospective Outstanding Claims Liability Gross Amount This is the value, as at the relevant date, of the central estimate component of outstanding claims liability (OCL), gross of any recoveries, determined in accordance with relevant reporting standards. OCL relates to all claims incurred prior to the valuation date, whether or not they have been reported to the reporting party. The value of the OCL must include an amount in respect of the expenses that the reporting party expects to incur in settling these claims. The value of OCL must not include any Government charges directly imposed on the reporting party such as levies, duties and taxes, but must be gross of input tax credit recoveries. The central estimate will be measured as the present value of the future expected payments, i.e. discounted for future investment income, determined in accordance with relevant reporting standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and so does not include any risk margin. Liabilities Insurance Prospective Outstanding Claims Liability Gross Central Estimate Amount This is the value, as at the relevant date, of the risk margin component of outstanding claims liability (OCL), gross of any recoveries, determined in accordance with relevant reporting standards. OCL relates to all claims incurred prior to the valuation date, whether or not they have been reported to the reporting party. The value of the OCL must include an amount in respect of the expenses that the reporting party expects to incur in settling these claims. The value of OCL must not include any Government charges directly imposed on the reporting party such as levies, duties and taxes, but must be gross of input tax credit recoveries. The risk margin is the component of the value of OCL that relates to the inherent uncertainty that outcomes will differ from the central estimate. The risk margin relates to the central estimate measured as the present value of the future expected payments gross of any recoveries, i.e. discounted for future investment income, determined in accordance with relevant reporting standards. The central estimate is intended to reflect the mean value in the range of possible values for the outcome (that is, the mean of the distribution of probabilistic outcomes), and the risk margin, when added to the central estimate, is intended to increase the likelihood that the OCL will be sufficient to the level required in relevant reporting standards. Liabilities Insurance Prospective Outstanding Claims Liability Gross Risk Margin Amount This is the value, as at the relevant date, of the outstanding claims liability (OCL), net of any recoveries that relate to the gross OCL, determined in accordance with relevant reporting standards. OCL relates to all claims incurred prior to the valuation date, whether or not they have been reported to the reporting party. The value of the OCL must include an amount in respect of the expenses that the reporting party expects to incur in settling these claims. The value of OCL must not include any Government charges directly imposed on the reporting party such as levies, duties and taxes. The OCL will be measured as the present value of the future expected net payments, i.e. discounted for future investment income, plus a risk margin determined in accordance with relevant reporting standards. Liabilities Insurance Prospective Outstanding Claims Liability Net Amount