{"id":"F2023L00583","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 104 of 2023","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-104-of-2023","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":104232,"registerId":"commonwealth-F2023L00583-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Reporting Standard HRS 114.0","sectionType":"part","heading":"Reporting Standard HRS 114.0","content":"![Commonwealth Coat of Arms of Australia](image.001.png)\n\n# Reporting Standard HRS 114.0\n\n# Asset Risk Charge\n\n## Objective of this Reporting Standard\n\nThis Reporting Standard sets out requirements for the provision of information to APRA relating to a private health insurer’s asset risk charge.\n\nIt includes associated specific instructions and must be read in conjunction with Prudential Standard HPS 114 Capital Adequacy: Asset Risk Charge (HPS 114).\n\n### Authority\n\n1. This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.\n\n### Purpose\n\n2. The information reported to APRA under this Reporting Standard is used by APRA for the purpose of prudential supervision including assessing compliance with capital standards.\n\n### Application and commencement\n\n3. This Reporting Standard applies to all private health insurers. This Reporting Standard applies for reporting periods ending on or after 1 July 2023.\n\n### Information required\n\n4. A private health insurer must provide APRA with the information required by this Reporting Standard for each reporting period.\n\n### Method of submission\n\n5. The information required by this Reporting Standard must be given to APRA:\n\n (a) in electronic format using an electronic method available on APRA’s website; or\n (b) by a method notified by APRA prior to submission.\n\n### Reporting periods and due dates\n\n6. Subject to paragraph 7, a private health insurer must provide the information required by this Reporting Standard:\n\n (a) in respect of each calendar quarter (i.e. the periods ending 30 September, 31 December, 31 March and 30 June); and\n (b) in respect of each year ending 30 June.\n\n7. If, having regard to the particular circumstances of a private health insurer, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by subparagraph 6(a) or 6(b), APRA may, by notice in writing, change the reporting periods, or specify reporting periods, for the particular private health insurer.\n\n8. The information required by this Reporting Standard must be provided to APRA:\n\n(a) in the case of quarterly information, within 28 calendar days after the end of the reporting period to which the information relates;\n\n(b) in the case of annual information, by 30 September each year; or\n\n(c) in the case of information provided in accordance with paragraph 7, within the time specified by notice in writing.\n\n9. APRA may, in writing, grant a private health insurer an extension of a due date, in which case the new due date will be the date on the notice of extension.\n\nNote: For the avoidance of doubt, if the due date for a particular reporting period falls on a day other than a usual business day, a private health insurer is nonetheless required to submit the information required no later than the due date.\n\n### Quality control\n\n10. All information provided by a private health insurer under this Reporting Standard must be subject to systems, processes and controls developed by the private health insurer for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the private health insurer to ensure that an appropriate set of policies and procedures for the authorisation of information submitted to APRA is in place.\n\n### Annual audit requirements\n\n11. The information submitted for the purposes of paragraph 8(b) is to be subject to external audit to ensure consistency with the private health insurer’s statutory financial accounts and faithful application of the capital standards.\n\n12. Audit certification and opinion must be provided to APRA by 30 September each year.\n\n13. If a private health insurer received a qualified auditor’s report for a health benefits fund, the general fund, or the private health insurer for the year previous to the year for which the report is provided, the report for the year for which the report is provided must state whether the auditor has examined the issues identified and is satisfied that the private health insurer has taken the appropriate steps to rectify the matters raised in the previous report.\n\n14. The auditor’s report must:\n\n (a) state details of the program adopted to carry out the audit; and\n\n (b) include the name of, and be signed by, the auditor who takes responsibility for the accuracy of the report.\n\n### Authorisation\n\n15. A person who submits the information required under this Reporting Standard must be suitably authorised by an officer of the private health insurer.\n\n### Variations\n\n16. APRA may, in writing, vary the reporting requirements of this Reporting Standard in relation to a private health insurer.\n\n### Interpretation\n\n17. In this Reporting Standard:\n\n(a) unless the contrary intention appears, words and expressions have the meanings given to them in Prudential Standard HPS 001 Definitions (HPS 001); and\n\n(b) the following definitions are applicable:\n\n AASB references relate to the Australian Accounting Standards made by the Australian Accounting Standards Board;\n APRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998;\n capital standards means the prudential standards which relate to capital adequacy as defined in HPS 001;\n officer has the same meaning as in the Act;\n\nprivate health insurer has the same meaning as in the Act; and\n\nreporting period means a period mentioned in paragraph 6 or, if applicable, paragraph 7; and\n\n the Act means the Private Health Insurance (Prudential Supervision) Act 2015.\n\n18. Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.","sortOrder":0},{"sectionNumber":"Asset Risk Charge","sectionType":"part","heading":"Asset Risk Charge","content":"![Commonwealth Coat of Arms of Australia](image.001.png)\n\n# Reporting Standard HRS 114.0\n\n# Asset Risk Charge\n\n## Objective of this Reporting Standard\n\nThis Reporting Standard sets out requirements for the provision of information to APRA relating to a private health insurer’s asset risk charge.\n\nIt includes associated specific instructions and must be read in conjunction with Prudential Standard HPS 114 Capital Adequacy: Asset Risk Charge (HPS 114).\n\n### Authority\n\n1. This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.\n\n### Purpose\n\n2. The information reported to APRA under this Reporting Standard is used by APRA for the purpose of prudential supervision including assessing compliance with capital standards.\n\n### Application and commencement\n\n3. This Reporting Standard applies to all private health insurers. This Reporting Standard applies for reporting periods ending on or after 1 July 2023.\n\n### Information required\n\n4. A private health insurer must provide APRA with the information required by this Reporting Standard for each reporting period.\n\n### Method of submission\n\n5. The information required by this Reporting Standard must be given to APRA:\n\n (a) in electronic format using an electronic method available on APRA’s website; or\n (b) by a method notified by APRA prior to submission.\n\n### Reporting periods and due dates\n\n6. Subject to paragraph 7, a private health insurer must provide the information required by this Reporting Standard:\n\n (a) in respect of each calendar quarter (i.e. the periods ending 30 September, 31 December, 31 March and 30 June); and\n (b) in respect of each year ending 30 June.\n\n7. If, having regard to the particular circumstances of a private health insurer, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by subparagraph 6(a) or 6(b), APRA may, by notice in writing, change the reporting periods, or specify reporting periods, for the particular private health insurer.\n\n8. The information required by this Reporting Standard must be provided to APRA:\n\n(a) in the case of quarterly information, within 28 calendar days after the end of the reporting period to which the information relates;\n\n(b) in the case of annual information, by 30 September each year; or\n\n(c) in the case of information provided in accordance with paragraph 7, within the time specified by notice in writing.\n\n9. APRA may, in writing, grant a private health insurer an extension of a due date, in which case the new due date will be the date on the notice of extension.\n\nNote: For the avoidance of doubt, if the due date for a particular reporting period falls on a day other than a usual business day, a private health insurer is nonetheless required to submit the information required no later than the due date.\n\n### Quality control\n\n10. All information provided by a private health insurer under this Reporting Standard must be subject to systems, processes and controls developed by the private health insurer for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the private health insurer to ensure that an appropriate set of policies and procedures for the authorisation of information submitted to APRA is in place.\n\n### Annual audit requirements\n\n11. The information submitted for the purposes of paragraph 8(b) is to be subject to external audit to ensure consistency with the private health insurer’s statutory financial accounts and faithful application of the capital standards.\n\n12. Audit certification and opinion must be provided to APRA by 30 September each year.\n\n13. If a private health insurer received a qualified auditor’s report for a health benefits fund, the general fund, or the private health insurer for the year previous to the year for which the report is provided, the report for the year for which the report is provided must state whether the auditor has examined the issues identified and is satisfied that the private health insurer has taken the appropriate steps to rectify the matters raised in the previous report.\n\n14. The auditor’s report must:\n\n (a) state details of the program adopted to carry out the audit; and\n\n (b) include the name of, and be signed by, the auditor who takes responsibility for the accuracy of the report.\n\n### Authorisation\n\n15. A person who submits the information required under this Reporting Standard must be suitably authorised by an officer of the private health insurer.\n\n### Variations\n\n16. APRA may, in writing, vary the reporting requirements of this Reporting Standard in relation to a private health insurer.\n\n### Interpretation\n\n17. In this Reporting Standard:\n\n(a) unless the contrary intention appears, words and expressions have the meanings given to them in Prudential Standard HPS 001 Definitions (HPS 001); and\n\n(b) the following definitions are applicable:\n\n AASB references relate to the Australian Accounting Standards made by the Australian Accounting Standards Board;\n APRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998;\n capital standards means the prudential standards which relate to capital adequacy as defined in HPS 001;\n officer has the same meaning as in the Act;\n\nprivate health insurer has the same meaning as in the Act; and\n\nreporting period means a period mentioned in paragraph 6 or, if applicable, paragraph 7; and\n\n the Act means the Private Health Insurance (Prudential Supervision) Act 2015.\n\n18. Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.","sortOrder":1},{"sectionNumber":"Objective of this Reporting Standard","sectionType":"part","heading":"Objective of this Reporting Standard","content":"## Objective of this Reporting Standard\n\nThis Reporting Standard sets out requirements for the provision of information to APRA relating to a private health insurer’s asset risk charge.\n\nIt includes associated specific instructions and must be read in conjunction with Prudential Standard HPS 114 Capital Adequacy: Asset Risk Charge (HPS 114).","sortOrder":2},{"sectionNumber":"Authority","sectionType":"division","heading":"Authority","content":"### Authority\n\n1. This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.","sortOrder":3},{"sectionNumber":"Purpose","sectionType":"division","heading":"Purpose","content":"### Purpose\n\n2. The information reported to APRA under this Reporting Standard is used by APRA for the purpose of prudential supervision including assessing compliance with capital standards.","sortOrder":4},{"sectionNumber":"Application and commencement","sectionType":"division","heading":"Application and commencement","content":"### Application and commencement\n\n3. This Reporting Standard applies to all private health insurers. This Reporting Standard applies for reporting periods ending on or after 1 July 2023.","sortOrder":5},{"sectionNumber":"Information required","sectionType":"division","heading":"Information required","content":"### Information required\n\n4. A private health insurer must provide APRA with the information required by this Reporting Standard for each reporting period.","sortOrder":6},{"sectionNumber":"Method of submission","sectionType":"division","heading":"Method of submission","content":"### Method of submission\n\n5. The information required by this Reporting Standard must be given to APRA:\n\n (a) in electronic format using an electronic method available on APRA’s website; or\n (b) by a method notified by APRA prior to submission.","sortOrder":7},{"sectionNumber":"Reporting periods and due dates","sectionType":"division","heading":"Reporting periods and due dates","content":"### Reporting periods and due dates\n\n6. Subject to paragraph 7, a private health insurer must provide the information required by this Reporting Standard:\n\n (a) in respect of each calendar quarter (i.e. the periods ending 30 September, 31 December, 31 March and 30 June); and\n (b) in respect of each year ending 30 June.\n\n7. If, having regard to the particular circumstances of a private health insurer, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by subparagraph 6(a) or 6(b), APRA may, by notice in writing, change the reporting periods, or specify reporting periods, for the particular private health insurer.\n\n8. The information required by this Reporting Standard must be provided to APRA:\n\n(a) in the case of quarterly information, within 28 calendar days after the end of the reporting period to which the information relates;\n\n(b) in the case of annual information, by 30 September each year; or\n\n(c) in the case of information provided in accordance with paragraph 7, within the time specified by notice in writing.\n\n9. APRA may, in writing, grant a private health insurer an extension of a due date, in which case the new due date will be the date on the notice of extension.\n\nNote: For the avoidance of doubt, if the due date for a particular reporting period falls on a day other than a usual business day, a private health insurer is nonetheless required to submit the information required no later than the due date.","sortOrder":8},{"sectionNumber":"Quality control","sectionType":"division","heading":"Quality control","content":"### Quality control\n\n10. All information provided by a private health insurer under this Reporting Standard must be subject to systems, processes and controls developed by the private health insurer for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the private health insurer to ensure that an appropriate set of policies and procedures for the authorisation of information submitted to APRA is in place.","sortOrder":9},{"sectionNumber":"Annual audit requirements","sectionType":"division","heading":"Annual audit requirements","content":"### Annual audit requirements\n\n11. The information submitted for the purposes of paragraph 8(b) is to be subject to external audit to ensure consistency with the private health insurer’s statutory financial accounts and faithful application of the capital standards.\n\n12. Audit certification and opinion must be provided to APRA by 30 September each year.\n\n13. If a private health insurer received a qualified auditor’s report for a health benefits fund, the general fund, or the private health insurer for the year previous to the year for which the report is provided, the report for the year for which the report is provided must state whether the auditor has examined the issues identified and is satisfied that the private health insurer has taken the appropriate steps to rectify the matters raised in the previous report.\n\n14. The auditor’s report must:\n\n (a) state details of the program adopted to carry out the audit; and\n\n (b) include the name of, and be signed by, the auditor who takes responsibility for the accuracy of the report.","sortOrder":10},{"sectionNumber":"Authorisation","sectionType":"division","heading":"Authorisation","content":"### Authorisation\n\n15. A person who submits the information required under this Reporting Standard must be suitably authorised by an officer of the private health insurer.","sortOrder":11},{"sectionNumber":"Variations","sectionType":"division","heading":"Variations","content":"### Variations\n\n16. APRA may, in writing, vary the reporting requirements of this Reporting Standard in relation to a private health insurer.","sortOrder":12},{"sectionNumber":"Interpretation","sectionType":"division","heading":"Interpretation","content":"### Interpretation\n\n17. In this Reporting Standard:\n\n(a) unless the contrary intention appears, words and expressions have the meanings given to them in Prudential Standard HPS 001 Definitions (HPS 001); and\n\n(b) the following definitions are applicable:\n\n AASB references relate to the Australian Accounting Standards made by the Australian Accounting Standards Board;\n APRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998;\n capital standards means the prudential standards which relate to capital adequacy as defined in HPS 001;\n officer has the same meaning as in the Act;\n\nprivate health insurer has the same meaning as in the Act; and\n\nreporting period means a period mentioned in paragraph 6 or, if applicable, paragraph 7; and\n\n the Act means the Private Health Insurance (Prudential Supervision) Act 2015.\n\n18. Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.","sortOrder":13},{"sectionNumber":"General instructions","sectionType":"part","heading":"General instructions","content":"# Reporting Standard HRS 114.0\n\n# Asset Risk Charge\n\n## General instructions\n\n### Reporting tables\n\nTables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.\n\nAny specific combination of values in a table must not appear on more than one row in that table when reported.\n\n### Look-through treatment\n\nFor asset and liability items that have been treated on a look-through basis for the purpose of Prudential Standard HPS 114 Capital Adequacy: Asset Risk Charge (HPS 114), report the effective underlying exposures after adjustments for look-through as well as their resultant impacts on capital base respectively.\n\n### Derivative treatment\n\nAll items should be reported gross of impacts from derivatives. Report the fair value of open derivative positions under derivatives (liabilities) and derivatives (assets).\n\n### Assets subject to stress\n\nExclude from the calculation of Asset Risk Charge all components of assets that are either:\n\n> deducted from total assets for the purpose of determining the capital base; or\n\n> subject to the Asset Concentration Risk Charge.\n\nInclude investment income receivable with the asset that generated the income.\n\n### Asset stress scenario\n\nPrivate health insurers are not required to report the components of impact on the fund’s capital base for asset stress scenarios where it is determined that those scenarios would improve the capital base (i.e. result in a zero-risk charge component) as at the end of the relevant reporting period.\n\nPrivate health insurers must report all asset stress scenarios that would give rise to a positive risk charge component.\n\n#### Definitions\n\nTerms highlighted in bold italics indicate that the definition is provided in these instructions.\n\nA\n\n| Adjusted pre-stress amount | This is the value of relevant items of the health benefits fund or general fund. Report amounts before the application of any designated asset stresses, net of the effect of any look-through adjustments and applying the fair value requirement outlined in Prudential Standard HPS 112 Capital Adequacy: Measurement of Capital (HPS 112) and HPS 114. |\n| ----------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Aggregated risk charge component | This is the aggregated result of applying the aggregation formula set out in HPS 114 to the capital base for each risk charge component. The formula allows for the likelihood of the asset risk stress scenarios occurring simultaneously. |\n| Amounts payable on reinsurance contracts held(Items subject to Asset Risk Charge type) | This is the value of amounts payable on reinsurance contracts held. This includes reinsurance premiums that are due to be paid, all unpaid instalment reinsurance premiums, reinsurer’s portion of recoveries, and commissions due to reinsurers. This also includes deposits withheld from reinsurers.For reinsurance contracts held, if there is a legal right of set-off within the underlying reinsurance contracts, report the amount after set-off against other amounts receivable from the reinsurer under that reinsurance contract. If the amount is a net receivable position from the reinsurer, report the amount under amounts receivable on reinsurance contracts held. If there is not a legal right of set-off, report the amount payable without set-off. Also refer to the definition of amounts receivable on reinsurance contracts held.Amounts payable on reinsurance contracts held is netted against reinsurance contract assets or added to reinsurance contract liabilities under AASB 17.This must exclude any amount already allowed in insurance liabilities determined under Prudential Standard HPS 340 Insurance Liability Valuation (HPS 340) to avoid double counting.This amount must be consistent with amounts payable on reinsurance contracts held reported in Reporting Standard HRS 112.0 Determination of Capital Base (HRS 112.0). |\n| Amounts receivable on reinsurance contracts held(Items subject to Asset Risk Charge type) | This is the value of amounts receivable on reinsurance contracts held. This includes reinsurance recoverables on paid claims.For reinsurance contracts held, if there is a legal right of set-off within the underlying reinsurance contracts, report the amount after set-off against other amounts payable to the reinsurer under that reinsurance contract. If the amount is a net payable position to the reinsurer, report the amount under amounts payable on reinsurance contracts held. If there is not a legal right of set-off, report the receivable amount without set-off. Also refer to the definition of amounts payable on reinsurance contracts held.Amounts receivable on reinsurance contracts held is netted against reinsurance contract liabilities or added to reinsurance contract assets under AASB 17.This must exclude any amount already allowed in insurance liabilities determined under HPS 340 to avoid double counting.This amount must be consistent with amounts receivable on reinsurance contracts held reported in HRS 112.0. |\n| Assets subject to credit spreads stress type | This is the category of assets subject to credit spreads stress. The options are:bonds and other non-securitised assets;structured and securitised assets; andre-securitised assets. |\n\nC\n\n| Cash and cash equivalents(Items subject to Asset Risk Charge type) | This is the value, as at the relevant date, of notes and coins; deposits withdrawable or redeemable within 24 hours; and securities purchased under agreements to resell. |\n| ------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Claims payable(Items subject to Asset Risk Charge type) | This is the value of claims payable, which reflects claims due but not paid.For inwards reinsurance business, where there is a legal right of set-off within the underlying reinsurance contract, report under this item if the amount after set-off results in a net payable position to the cedant. If there is not a legal right of set-off, report the amount payable without set-off. Also refer to the definition of premiums receivable.Claims payable is netted against insurance contract assets or added to insurance contract liabilities under AASB 17.This must exclude any amount already allowed in insurance liabilities determined under HPS 340 to avoid double counting.This amount must be consistent with claims payable reported in HRS 112.0. |\n| Counterparty grade | This is the classification applied to an investment or exposure as per the requirements of HPS 001. Assets guaranteed by an Australian state or territory government must be reported in the counterparty grade that applies after rating up one grade in accordance with HPS 114. |\n| Credit spread fair value amount | This is the fair value of assets that are subject to credit spreads stress. |\n| Credit spread stressed amount | This is the stressed value of assets that are subject to credit spreads stress. |\n| Credit spreads stress(Stress scenario type) | This is the impact on the health benefits fund’s or general fund's capital base of an increase in credit spreads and the risk of default and is calculated in accordance with HPS 114.This stress applies to interest bearing assets, including cash deposits and floating rate assets. Credit derivatives and zero-coupon instruments such as bank bills must also be included. |\n| Currency downwards stress(Stress scenario type) | This is the impact on the fund’s capital base of downward changes in foreign currency exchange rates and is calculated in accordance with HPS 114. |\n| Currency upwards stress(Stress scenario type) | This is the impact on the health benefits fund’s or general fund's capital base of upward changes in foreign currency exchange rates and is calculated in accordance with HPS 114. |\n| Current tax assets(Items subject to Asset Risk Charge type) | This is the value of current tax assets determined in accordance with Australian Accounting Standards. |\n\nD\n\n| Default stress(Stress scenario type) | This is the impact on the health benefits fund’s or general fund's capital base of the risk of counterparty default and is calculated in accordance with HPS 114. It applies to reinsurance assets, over the counter derivatives, unpaid premiums and all other credit or counterparty exposures that have not been affected by the credit spreads stress. In accordance with HPS 114, only the central estimates of reinsurance assets are to be subject to default stress. |\n| ------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Deferred tax assets(Items subject to Asset Risk Charge type) | This is the value of tax benefits that may be recognised in future financial periods, as consistent with the asset risk scenario under consideration. |\n| Deferred tax liabilities(Items subject to Asset Risk Charge type) | This is the value of taxes payable in future periods in respect of taxable temporary differences. The definition is interpreted consistently with Australian Accounting Standard AASB 112 - Income Taxes (AASB 112). |\n| Derivatives (assets)(Items subject to Asset Risk Charge type) | This is the value of all open derivative positions reported as assets. |\n| Derivatives (liabilities)(Items subject to Asset Risk Charge type) | This is the value of all open derivatives positions reported as liabilities. |\n| Dividend yield used in determination of equity stress(Yields used in stress scenarios type) | This is the dividend yield of the ASX 200 index used in determining the reduction in equity asset values under the equity stress scenario. |\n\nE\n\n| Earnings yield used in determination of property stress(Yields used in stress scenarios type) | This is the average earnings yield before taxes used in determining the reduction in infrastructure asset values under the property stress scenario. |\n| --------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Equities (direct)(Items subject to Asset Risk Charge type) | This is the value, as at the relevant date, of equity securities and of subordinated debt securities. Equity securities are, as defined by the Australian Accounting Standards, contracts that evidence a residual interest in the assets of an entity after deducting all its liabilities. This includes equity securities lent or sold by the entity under repurchase agreements, where the transaction does not result in the transfer of the rights of ownership of the securities away from the entity to another party. Subordinated debt is a debt security where the claim to repayment ranks lower in priority to other claims. |\n| Equity stress(Stress scenario type) | This is the impact on the health benefits fund’s or general fund's capital base of a fall in equity and other asset values and is calculated in accordance with HPS 114.This stress applies to both listed and unlisted equity assets and to any other assets that are not considered in any of the other asset risk stresses. This stress also includes an increase to equity volatility. |\n| Expected inflation downwards stress(Stress scenario type) | Expected inflation stress measures the impact on the health benefits fund’s or general fund's capital base of changes to expected Consumer Price Index inflation rates. It also affects nominal interest rates.This item reports the impact on the capital base of the health benefits fund or general fund arising from the application of the downward expected inflation stress and is calculated in accordance with HPS 114. |\n| Expected inflation upwards stress(Stress scenario type) | Expected inflation stress measures the impact on the health benefits fund’s or general fund's capital base of changes to expected Consumer Price Index inflation rates. It also affects nominal interest rates.This item reports the impact on the capital base of the health benefits fund or general fund arising from the application of the upward expected inflation stress and is calculated in accordance with HPS 114. |\n| Expected reinsurance recoveries(Items subject to Asset Risk Charge type) | This is the amount due to the health benefits fund or general fund from a reinsurer that arises from the recognition of premiums liabilities referred to in the PHI Prudential Standards (including HPS 340). This is distinguished from reinsurance recoverables. |\n\nG\n\n| General fund(Private health insurer fund type) | General fund has the same meaning as in HPS 001. |\n| ---------------------------------------------- | ------------------------------------------------ |\n\nH\n\n| Health benefits fund(Private health insurer fund type) | Health benefits fund has the same meaning as in the Act. |\n| ------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------- |\n| HPS 340 deferred claims liability(Items subject to Asset Risk Charge type) | This is the value of the deferred claims liability determined in accordance with HPS 340. |\n| HPS 340 other insurance liabilities(Items subject to Asset Risk Charge type) | This is the value of the other insurance liabilities determined in accordance with HPS 340. |\n| HPS 340 outstanding claims liabilities(Items subject to Asset Risk Charge type) | This is the value of the outstanding claims liabilities determined in accordance with HPS 340. |\n| HPS 340 premium liabilities(Items subject to Asset Risk Charge type) | This is the value of the premium liabilities determined in accordance with HPS 340. |\n| HPS 340 risk equalisation transfers(Items subject to Asset Risk Charge type) | This is the value of the risk equalisation transfers determined in accordance with HPS 340. |\n\nI\n\n| Impact of diversification | This is calculated as the sum of the risk charge components used in calculating the aggregated risk charge component, less the aggregated risk charge component as set out in HPS 114. |\n| ------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Impact on the fund’s capital base | This shows the impact on the capital base of each asset risk stress scenario as set out in HPS 114.This item is calculated for each stress scenario type as the sum of:cash and cash equivalents;current tax assets;interest rate investments (direct);equities (direct);property (direct);loans (direct);indirect investments;deferred tax assets;derivatives (assets);investments in related entities (associates, joint ventures, subsidiaries);other assets subject to Asset Risk Charge;deferred tax liabilities;derivatives (liabilities);other liabilities subject to Asset Risk Charge;reinsurance recoverables on outstanding claims;expected reinsurance recoveries;amounts receivable on reinsurance contracts held;other reinsurance assets;HPS 340 outstanding claims liabilities;HPS 340 premium liabilities;HPS 340 risk equalisation transfers;HPS 340 other insurance liabilities;HPS 340 deferred claims liability;premiums receivable;non-reinsurance recoveries receivable;other accounts receivable on insurance contracts issued;claims payable;amounts payable on reinsurance contracts held;other accounts payable on insurance contracts issued; andoff-balance sheet exposures. |\n| Indirect investments(Items subject to Asset Risk Charge type) | This is the value of the net assets of unit trusts or managed investment schemes invested in by the health benefits fund or general fund, or mandates individually managed on behalf of the health benefits fund or general fund. |\n| Interest rate investments (direct)(Items subject to Asset Risk Charge type) | This is the value of debt securities held by the health benefits fund or general fund as at the relevant date, plus the value of deposits and placements that have been classified by the private health insurer as assets backing insurance liabilities for statutory reporting purposes. A debt security is a transferable instrument evidencing a relationship of indebtedness. It is characterised by having a definable return that is not based on the economic performance of the issuing entity. |\n| Investments in related entities (associates, joint ventures, subsidiaries)(Items subject to Asset Risk Charge type) | This is the value of strategic investments or acquisitions of the health benefits fund or general fund.This includes investments in associates, joint ventures and subsidiaries from the AASB 17 Insurance Contracts (AASB 17) balance sheet.This does not include investments that constitute assets backing private health insurance liabilities. |\n\nL\n\n| Loans (direct)(Items subject to Asset Risk Charge type) | This is the value of loans (direct). Loans (direct) includes financial leases and mortgages, and are typically non-negotiable on the secondary market. |\n| ------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\nN\n\n| Non-reinsurance recoveries receivable(Items subject to Asset Risk Charge type) | This is the value of non-reinsurance recoveries on paid claims.Non-reinsurance recoveries receivable is netted against insurance contract liabilities or added to insurance contract assets under AASB 17.This must exclude any amount already allowed in insurance liabilities determined under HPS 340 to avoid double counting.This amount must be consistent with non-reinsurance recoveries receivable reported in HRS 112.0. |\n| ------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\nO\n\n| Off-balance sheet exposures(Items subject to Asset Risk Charge type) | This is the value of off-balance sheet exposures that are subject to the Asset Risk Charge. |\n| ------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Other accounts payable on insurance contracts issued(Items subject to Asset Risk Charge type) | Other accounts payable on insurance contracts issued reflects any other amounts due but not paid relating to insurance contracts. This may include (but is not limited to) levies, taxes, rebates, fees and commissions.Other accounts payable on insurance contracts issued is netted against insurance contract assets or added to insurance contract liabilities under AASB 17.This must exclude any amount already allowed in insurance liabilities determined under HPS 340 to avoid double counting.This amount must be consistent with other accounts payable on insurance contracts issued reported in HRS 112.0. |\n| Other accounts receivable on insurance contracts issued(Items subject to Asset Risk Charge type) | Other accounts receivable on insurance contracts issued reflects any other amounts due but not received relating to insurance contracts. This may include (but is not limited to) levies, taxes, rebates, fees and commissions.Other accounts receivable on insurance contracts issued is netted against insurance contract liabilities or added to insurance contract assets under AASB 17.This must exclude any amount already allowed in insurance liabilities determined under HPS 340 to avoid double counting.This amount must be consistent with other accounts receivable on insurance contracts issued reported in HRS 112.0. |\n| Other assets subject to Asset Risk Charge(Items subject to Asset Risk Charge type) | This is the value of the accounting assets that have not been reported elsewhere in:cash and cash equivalents;current tax assets;deferred tax assets;derivatives (assets);investments in related entities (associates, joint ventures, subsidiaries);interest rate investments (direct);equities (direct);property (direct);loans (direct); orindirect investments.This does not include assets in excess of the concentration limits set out in Prudential Standard HPS 117 Capital Adequacy: Asset Concentration Risk Charge or assets which are deducted from capital base of the health benefits fund or general fund such as surplus in defined benefit superannuation funds of which the private health insurer is an employer-sponsor.Additionally, this excludes the following items from the AASB 17 balance sheet:insurance contract assets; andreinsurance contract assets. |\n| Other liabilities subject to Asset Risk Charge(Items subject to Asset Risk Charge type) | This consists of all other accounting liabilities of the health benefits fund or general fund not separately reported under deferred tax liabilities or derivatives (liabilities).Additionally, this excludes the following items from the AASB 17 balance sheet:insurance contract liabilities; andreinsurance contract liabilities |\n| Other reinsurance assets(Items subject to Asset Risk Charge type) | This is the value of the central estimate of any asset recognised by the health benefits fund or general fund that relates to reinsurance other than:reinsurance recoverables on outstanding claims;amounts receivable on reinsurance contracts held; andexpected reinsurance recoveries. |\n\nP\n\n| Premiums receivable(Items subject to Asset Risk Charge type) | This is the value of unpaid premiums in relation to direct insurance business and inwards reinsurance business. Unpaid premiums include premiums that are due to be received, unpaid premiums available for collection, and premiums not yet available for collection. Insurers must include all unpaid instalment premiums.This amount includes unpaid premiums in relation to unclosed business. Unclosed business refers to business written close to the balance date where acceptance of risk is prior to the balance date but there is insufficient information to accurately identify the business. This includes insurance policies that have not been processed, but for which a reporting insurer is liable at the valuation date.Premiums should be gross of reinsurance and commissions, before profit share rebates, and inclusive of stamp duty, policy fees, loadings and discounts.For inwards reinsurance business, if there is a legal right of set-off within the underlying reinsurance contract, report the amount after set-off against other amounts payable to the cedant under that reinsurance contract. If the amount is a net payable position to the cedant, report the amount under claims payable. If there is not a legal right of set-off, report the amount receivable without set-off. Also refer to the definition of claims payable.Premiums receivable is netted against insurance contract liabilities or added to insurance contact assets under AASB 17.Premiums receivable must be reduced by the amount that is likely to become uncollectable in the future.This amount must be consistent with premiums receivable reported in HRS 112.0. |\n| ------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Private health insurer fund type | This refers to either the health benefits fund or the general fund. |\n| Property (direct)(Items subject to Asset Risk Charge type) | This is the value of property held by the health benefits fund or general fund, in accordance with the classification and measurement basis under the relevant Australian Accounting Standards. |\n| Property stress(Stress scenario type) | This is the impact on the health benefits fund’s or general fund's capital base of changes in property and infrastructure asset values and is calculated in accordance with HPS 114. |\n\nR\n\n| Real interest rates downwards stress(Stress scenario type) | The real interest rates stress measures the impact on the fund’s capital base of downward changes in real interest rates. It also affects nominal interest rates.This item is calculated in accordance with HPS 114. |\n| ------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Real interest rates upwards stress(Stress scenario type) | The real interest rates stress measures the impact on the health benefits fund’s or general fund's capital base of upward changes in real interest rates. It also affects nominal interest rates.This item is calculated in accordance with HPS 114. |\n| Reinsurance recoverables on outstanding claims(Items subject to Asset Risk Charge type) | This is the value of the central estimate of reinsurance recoverables in relation to reinsurance contracts for outstanding claims. This item does not include amounts that do not comprise an executed and legally binding reinsurance contract as per Prudential Standard HPS 112 Capital Adequacy: Measurement of Capital (HPS 112). |\n| Rental yield used in determination of property stress(Yields used in stress scenarios type) | This is the average rental yield for the property assets, based on current leases, and net of expenses. |\n| Risk charge component | This item is calculated for each stress scenario type as the greater of zero and the impact on the fund’s capital base amount.If the impact on the fund’s capital base is less than zero then the risk charge component is equal to the absolute value of the impact on the fund’s capital base.If the impact on the fund’s capital base is greater than zero then the risk charge component is zero. |\n\nS\n\n| Stress scenario amount | This the contribution of the relevant items towards the change in capital base under the stress scenario types.Specifications of the stresses are determined in accordance with HPS 114. |\n| ---------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Stress scenario type | This consists of the stress scenarios that must be applied to individual items under HPS 114. The scenarios are:real interest rates upwards stress;real interest rates downwards stress;expected inflation upwards stress;expected inflation downwards stress;currency upwards stress;currency downwards stress;equity stress;property stress;credit spreads stress; anddefault stress. |\n\nY\n\n| Yields used in stress scenarios percent | This is the percentage values of yields used in stress scenarios type. |\n| --------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Yields used in stress scenarios type | This consists of the types of yields used in stress scenarios that must be applied to individual items under HPS 114. The yield types are:dividend yield used in determination of equity stress;rental yield used in determination of property stress; andearnings yield used in determination of property stress. |","sortOrder":16},{"sectionNumber":"Reporting tables","sectionType":"division","heading":"Reporting tables","content":"### Reporting tables\n\nTables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.\n\nAny specific combination of values in a table must not appear on more than one row in that table when reported.","sortOrder":17},{"sectionNumber":"Look-through treatment","sectionType":"division","heading":"Look-through treatment","content":"### Look-through treatment\n\nFor asset and liability items that have been treated on a look-through basis for the purpose of Prudential Standard HPS 114 Capital Adequacy: Asset Risk Charge (HPS 114), report the effective underlying exposures after adjustments for look-through as well as their resultant impacts on capital base respectively.","sortOrder":18},{"sectionNumber":"Derivative treatment","sectionType":"division","heading":"Derivative treatment","content":"### Derivative treatment\n\nAll items should be reported gross of impacts from derivatives. Report the fair value of open derivative positions under derivatives (liabilities) and derivatives (assets).","sortOrder":19},{"sectionNumber":"Assets subject to stress","sectionType":"division","heading":"Assets subject to stress","content":"### Assets subject to stress\n\nExclude from the calculation of Asset Risk Charge all components of assets that are either:\n\n> deducted from total assets for the purpose of determining the capital base; or\n\n> subject to the Asset Concentration Risk Charge.\n\nInclude investment income receivable with the asset that generated the income.","sortOrder":20},{"sectionNumber":"Asset stress scenario","sectionType":"division","heading":"Asset stress scenario","content":"### Asset stress scenario\n\nPrivate health insurers are not required to report the components of impact on the fund’s capital base for asset stress scenarios where it is determined that those scenarios would improve the capital base (i.e. result in a zero-risk charge component) as at the end of the relevant reporting period.\n\nPrivate health insurers must report all asset stress scenarios that would give rise to a positive risk charge component.","sortOrder":21},{"sectionNumber":"Definitions","sectionType":"subdivision","heading":"Definitions","content":"#### Definitions\n\nTerms highlighted in bold italics indicate that the definition is provided in these instructions.\n\nA\n\n| Adjusted pre-stress amount | This is the value of relevant items of the health benefits fund or general fund. Report amounts before the application of any designated asset stresses, net of the effect of any look-through adjustments and applying the fair value requirement outlined in Prudential Standard HPS 112 Capital Adequacy: Measurement of Capital (HPS 112) and HPS 114. |\n| ----------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Aggregated risk charge component | This is the aggregated result of applying the aggregation formula set out in HPS 114 to the capital base for each risk charge component. The formula allows for the likelihood of the asset risk stress scenarios occurring simultaneously. |\n| Amounts payable on reinsurance contracts held(Items subject to Asset Risk Charge type) | This is the value of amounts payable on reinsurance contracts held. This includes reinsurance premiums that are due to be paid, all unpaid instalment reinsurance premiums, reinsurer’s portion of recoveries, and commissions due to reinsurers. This also includes deposits withheld from reinsurers.For reinsurance contracts held, if there is a legal right of set-off within the underlying reinsurance contracts, report the amount after set-off against other amounts receivable from the reinsurer under that reinsurance contract. If the amount is a net receivable position from the reinsurer, report the amount under amounts receivable on reinsurance contracts held. If there is not a legal right of set-off, report the amount payable without set-off. Also refer to the definition of amounts receivable on reinsurance contracts held.Amounts payable on reinsurance contracts held is netted against reinsurance contract assets or added to reinsurance contract liabilities under AASB 17.This must exclude any amount already allowed in insurance liabilities determined under Prudential Standard HPS 340 Insurance Liability Valuation (HPS 340) to avoid double counting.This amount must be consistent with amounts payable on reinsurance contracts held reported in Reporting Standard HRS 112.0 Determination of Capital Base (HRS 112.0). |\n| Amounts receivable on reinsurance contracts held(Items subject to Asset Risk Charge type) | This is the value of amounts receivable on reinsurance contracts held. This includes reinsurance recoverables on paid claims.For reinsurance contracts held, if there is a legal right of set-off within the underlying reinsurance contracts, report the amount after set-off against other amounts payable to the reinsurer under that reinsurance contract. If the amount is a net payable position to the reinsurer, report the amount under amounts payable on reinsurance contracts held. If there is not a legal right of set-off, report the receivable amount without set-off. Also refer to the definition of amounts payable on reinsurance contracts held.Amounts receivable on reinsurance contracts held is netted against reinsurance contract liabilities or added to reinsurance contract assets under AASB 17.This must exclude any amount already allowed in insurance liabilities determined under HPS 340 to avoid double counting.This amount must be consistent with amounts receivable on reinsurance contracts held reported in HRS 112.0. |\n| Assets subject to credit spreads stress type | This is the category of assets subject to credit spreads stress. The options are:bonds and other non-securitised assets;structured and securitised assets; andre-securitised assets. |\n\nC\n\n| Cash and cash equivalents(Items subject to Asset Risk Charge type) | This is the value, as at the relevant date, of notes and coins; deposits withdrawable or redeemable within 24 hours; and securities purchased under agreements to resell. |\n| ------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Claims payable(Items subject to Asset Risk Charge type) | This is the value of claims payable, which reflects claims due but not paid.For inwards reinsurance business, where there is a legal right of set-off within the underlying reinsurance contract, report under this item if the amount after set-off results in a net payable position to the cedant. If there is not a legal right of set-off, report the amount payable without set-off. Also refer to the definition of premiums receivable.Claims payable is netted against insurance contract assets or added to insurance contract liabilities under AASB 17.This must exclude any amount already allowed in insurance liabilities determined under HPS 340 to avoid double counting.This amount must be consistent with claims payable reported in HRS 112.0. |\n| Counterparty grade | This is the classification applied to an investment or exposure as per the requirements of HPS 001. Assets guaranteed by an Australian state or territory government must be reported in the counterparty grade that applies after rating up one grade in accordance with HPS 114. |\n| Credit spread fair value amount | This is the fair value of assets that are subject to credit spreads stress. |\n| Credit spread stressed amount | This is the stressed value of assets that are subject to credit spreads stress. |\n| Credit spreads stress(Stress scenario type) | This is the impact on the health benefits fund’s or general fund's capital base of an increase in credit spreads and the risk of default and is calculated in accordance with HPS 114.This stress applies to interest bearing assets, including cash deposits and floating rate assets. Credit derivatives and zero-coupon instruments such as bank bills must also be included. |\n| Currency downwards stress(Stress scenario type) | This is the impact on the fund’s capital base of downward changes in foreign currency exchange rates and is calculated in accordance with HPS 114. |\n| Currency upwards stress(Stress scenario type) | This is the impact on the health benefits fund’s or general fund's capital base of upward changes in foreign currency exchange rates and is calculated in accordance with HPS 114. |\n| Current tax assets(Items subject to Asset Risk Charge type) | This is the value of current tax assets determined in accordance with Australian Accounting Standards. |\n\nD\n\n| Default stress(Stress scenario type) | This is the impact on the health benefits fund’s or general fund's capital base of the risk of counterparty default and is calculated in accordance with HPS 114. It applies to reinsurance assets, over the counter derivatives, unpaid premiums and all other credit or counterparty exposures that have not been affected by the credit spreads stress. In accordance with HPS 114, only the central estimates of reinsurance assets are to be subject to default stress. |\n| ------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Deferred tax assets(Items subject to Asset Risk Charge type) | This is the value of tax benefits that may be recognised in future financial periods, as consistent with the asset risk scenario under consideration. |\n| Deferred tax liabilities(Items subject to Asset Risk Charge type) | This is the value of taxes payable in future periods in respect of taxable temporary differences. The definition is interpreted consistently with Australian Accounting Standard AASB 112 - Income Taxes (AASB 112). |\n| Derivatives (assets)(Items subject to Asset Risk Charge type) | This is the value of all open derivative positions reported as assets. |\n| Derivatives (liabilities)(Items subject to Asset Risk Charge type) | This is the value of all open derivatives positions reported as liabilities. |\n| Dividend yield used in determination of equity stress(Yields used in stress scenarios type) | This is the dividend yield of the ASX 200 index used in determining the reduction in equity asset values under the equity stress scenario. |\n\nE\n\n| Earnings yield used in determination of property stress(Yields used in stress scenarios type) | This is the average earnings yield before taxes used in determining the reduction in infrastructure asset values under the property stress scenario. |\n| --------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Equities (direct)(Items subject to Asset Risk Charge type) | This is the value, as at the relevant date, of equity securities and of subordinated debt securities. Equity securities are, as defined by the Australian Accounting Standards, contracts that evidence a residual interest in the assets of an entity after deducting all its liabilities. This includes equity securities lent or sold by the entity under repurchase agreements, where the transaction does not result in the transfer of the rights of ownership of the securities away from the entity to another party. Subordinated debt is a debt security where the claim to repayment ranks lower in priority to other claims. |\n| Equity stress(Stress scenario type) | This is the impact on the health benefits fund’s or general fund's capital base of a fall in equity and other asset values and is calculated in accordance with HPS 114.This stress applies to both listed and unlisted equity assets and to any other assets that are not considered in any of the other asset risk stresses. This stress also includes an increase to equity volatility. |\n| Expected inflation downwards stress(Stress scenario type) | Expected inflation stress measures the impact on the health benefits fund’s or general fund's capital base of changes to expected Consumer Price Index inflation rates. It also affects nominal interest rates.This item reports the impact on the capital base of the health benefits fund or general fund arising from the application of the downward expected inflation stress and is calculated in accordance with HPS 114. |\n| Expected inflation upwards stress(Stress scenario type) | Expected inflation stress measures the impact on the health benefits fund’s or general fund's capital base of changes to expected Consumer Price Index inflation rates. It also affects nominal interest rates.This item reports the impact on the capital base of the health benefits fund or general fund arising from the application of the upward expected inflation stress and is calculated in accordance with HPS 114. |\n| Expected reinsurance recoveries(Items subject to Asset Risk Charge type) | This is the amount due to the health benefits fund or general fund from a reinsurer that arises from the recognition of premiums liabilities referred to in the PHI Prudential Standards (including HPS 340). This is distinguished from reinsurance recoverables. |\n\nG\n\n| General fund(Private health insurer fund type) | General fund has the same meaning as in HPS 001. |\n| ---------------------------------------------- | ------------------------------------------------ |\n\nH\n\n| Health benefits fund(Private health insurer fund type) | Health benefits fund has the same meaning as in the Act. |\n| ------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------- |\n| HPS 340 deferred claims liability(Items subject to Asset Risk Charge type) | This is the value of the deferred claims liability determined in accordance with HPS 340. |\n| HPS 340 other insurance liabilities(Items subject to Asset Risk Charge type) | This is the value of the other insurance liabilities determined in accordance with HPS 340. |\n| HPS 340 outstanding claims liabilities(Items subject to Asset Risk Charge type) | This is the value of the outstanding claims liabilities determined in accordance with HPS 340. |\n| HPS 340 premium liabilities(Items subject to Asset Risk Charge type) | This is the value of the premium liabilities determined in accordance with HPS 340. |\n| HPS 340 risk equalisation transfers(Items subject to Asset Risk Charge type) | This is the value of the risk equalisation transfers determined in accordance with HPS 340. |\n\nI\n\n| Impact of diversification | This is calculated as the sum of the risk charge components used in calculating the aggregated risk charge component, less the aggregated risk charge component as set out in HPS 114. |\n| ------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Impact on the fund’s capital base | This shows the impact on the capital base of each asset risk stress scenario as set out in HPS 114.This item is calculated for each stress scenario type as the sum of:cash and cash equivalents;current tax assets;interest rate investments (direct);equities (direct);property (direct);loans (direct);indirect investments;deferred tax assets;derivatives (assets);investments in related entities (associates, joint ventures, subsidiaries);other assets subject to Asset Risk Charge;deferred tax liabilities;derivatives (liabilities);other liabilities subject to Asset Risk Charge;reinsurance recoverables on outstanding claims;expected reinsurance recoveries;amounts receivable on reinsurance contracts held;other reinsurance assets;HPS 340 outstanding claims liabilities;HPS 340 premium liabilities;HPS 340 risk equalisation transfers;HPS 340 other insurance liabilities;HPS 340 deferred claims liability;premiums receivable;non-reinsurance recoveries receivable;other accounts receivable on insurance contracts issued;claims payable;amounts payable on reinsurance contracts held;other accounts payable on insurance contracts issued; andoff-balance sheet exposures. |\n| Indirect investments(Items subject to Asset Risk Charge type) | This is the value of the net assets of unit trusts or managed investment schemes invested in by the health benefits fund or general fund, or mandates individually managed on behalf of the health benefits fund or general fund. |\n| Interest rate investments (direct)(Items subject to Asset Risk Charge type) | This is the value of debt securities held by the health benefits fund or general fund as at the relevant date, plus the value of deposits and placements that have been classified by the private health insurer as assets backing insurance liabilities for statutory reporting purposes. A debt security is a transferable instrument evidencing a relationship of indebtedness. It is characterised by having a definable return that is not based on the economic performance of the issuing entity. |\n| Investments in related entities (associates, joint ventures, subsidiaries)(Items subject to Asset Risk Charge type) | This is the value of strategic investments or acquisitions of the health benefits fund or general fund.This includes investments in associates, joint ventures and subsidiaries from the AASB 17 Insurance Contracts (AASB 17) balance sheet.This does not include investments that constitute assets backing private health insurance liabilities. |\n\nL\n\n| Loans (direct)(Items subject to Asset Risk Charge type) | This is the value of loans (direct). Loans (direct) includes financial leases and mortgages, and are typically non-negotiable on the secondary market. |\n| ------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------ |\n\nN\n\n| Non-reinsurance recoveries receivable(Items subject to Asset Risk Charge type) | This is the value of non-reinsurance recoveries on paid claims.Non-reinsurance recoveries receivable is netted against insurance contract liabilities or added to insurance contract assets under AASB 17.This must exclude any amount already allowed in insurance liabilities determined under HPS 340 to avoid double counting.This amount must be consistent with non-reinsurance recoveries receivable reported in HRS 112.0. |\n| ------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\nO\n\n| Off-balance sheet exposures(Items subject to Asset Risk Charge type) | This is the value of off-balance sheet exposures that are subject to the Asset Risk Charge. |\n| ------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Other accounts payable on insurance contracts issued(Items subject to Asset Risk Charge type) | Other accounts payable on insurance contracts issued reflects any other amounts due but not paid relating to insurance contracts. This may include (but is not limited to) levies, taxes, rebates, fees and commissions.Other accounts payable on insurance contracts issued is netted against insurance contract assets or added to insurance contract liabilities under AASB 17.This must exclude any amount already allowed in insurance liabilities determined under HPS 340 to avoid double counting.This amount must be consistent with other accounts payable on insurance contracts issued reported in HRS 112.0. |\n| Other accounts receivable on insurance contracts issued(Items subject to Asset Risk Charge type) | Other accounts receivable on insurance contracts issued reflects any other amounts due but not received relating to insurance contracts. This may include (but is not limited to) levies, taxes, rebates, fees and commissions.Other accounts receivable on insurance contracts issued is netted against insurance contract liabilities or added to insurance contract assets under AASB 17.This must exclude any amount already allowed in insurance liabilities determined under HPS 340 to avoid double counting.This amount must be consistent with other accounts receivable on insurance contracts issued reported in HRS 112.0. |\n| Other assets subject to Asset Risk Charge(Items subject to Asset Risk Charge type) | This is the value of the accounting assets that have not been reported elsewhere in:cash and cash equivalents;current tax assets;deferred tax assets;derivatives (assets);investments in related entities (associates, joint ventures, subsidiaries);interest rate investments (direct);equities (direct);property (direct);loans (direct); orindirect investments.This does not include assets in excess of the concentration limits set out in Prudential Standard HPS 117 Capital Adequacy: Asset Concentration Risk Charge or assets which are deducted from capital base of the health benefits fund or general fund such as surplus in defined benefit superannuation funds of which the private health insurer is an employer-sponsor.Additionally, this excludes the following items from the AASB 17 balance sheet:insurance contract assets; andreinsurance contract assets. |\n| Other liabilities subject to Asset Risk Charge(Items subject to Asset Risk Charge type) | This consists of all other accounting liabilities of the health benefits fund or general fund not separately reported under deferred tax liabilities or derivatives (liabilities).Additionally, this excludes the following items from the AASB 17 balance sheet:insurance contract liabilities; andreinsurance contract liabilities |\n| Other reinsurance assets(Items subject to Asset Risk Charge type) | This is the value of the central estimate of any asset recognised by the health benefits fund or general fund that relates to reinsurance other than:reinsurance recoverables on outstanding claims;amounts receivable on reinsurance contracts held; andexpected reinsurance recoveries. |\n\nP\n\n| Premiums receivable(Items subject to Asset Risk Charge type) | This is the value of unpaid premiums in relation to direct insurance business and inwards reinsurance business. Unpaid premiums include premiums that are due to be received, unpaid premiums available for collection, and premiums not yet available for collection. Insurers must include all unpaid instalment premiums.This amount includes unpaid premiums in relation to unclosed business. Unclosed business refers to business written close to the balance date where acceptance of risk is prior to the balance date but there is insufficient information to accurately identify the business. This includes insurance policies that have not been processed, but for which a reporting insurer is liable at the valuation date.Premiums should be gross of reinsurance and commissions, before profit share rebates, and inclusive of stamp duty, policy fees, loadings and discounts.For inwards reinsurance business, if there is a legal right of set-off within the underlying reinsurance contract, report the amount after set-off against other amounts payable to the cedant under that reinsurance contract. If the amount is a net payable position to the cedant, report the amount under claims payable. If there is not a legal right of set-off, report the amount receivable without set-off. Also refer to the definition of claims payable.Premiums receivable is netted against insurance contract liabilities or added to insurance contact assets under AASB 17.Premiums receivable must be reduced by the amount that is likely to become uncollectable in the future.This amount must be consistent with premiums receivable reported in HRS 112.0. |\n| ------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Private health insurer fund type | This refers to either the health benefits fund or the general fund. |\n| Property (direct)(Items subject to Asset Risk Charge type) | This is the value of property held by the health benefits fund or general fund, in accordance with the classification and measurement basis under the relevant Australian Accounting Standards. |\n| Property stress(Stress scenario type) | This is the impact on the health benefits fund’s or general fund's capital base of changes in property and infrastructure asset values and is calculated in accordance with HPS 114. |\n\nR\n\n| Real interest rates downwards stress(Stress scenario type) | The real interest rates stress measures the impact on the fund’s capital base of downward changes in real interest rates. It also affects nominal interest rates.This item is calculated in accordance with HPS 114. |\n| ------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Real interest rates upwards stress(Stress scenario type) | The real interest rates stress measures the impact on the health benefits fund’s or general fund's capital base of upward changes in real interest rates. It also affects nominal interest rates.This item is calculated in accordance with HPS 114. |\n| Reinsurance recoverables on outstanding claims(Items subject to Asset Risk Charge type) | This is the value of the central estimate of reinsurance recoverables in relation to reinsurance contracts for outstanding claims. This item does not include amounts that do not comprise an executed and legally binding reinsurance contract as per Prudential Standard HPS 112 Capital Adequacy: Measurement of Capital (HPS 112). |\n| Rental yield used in determination of property stress(Yields used in stress scenarios type) | This is the average rental yield for the property assets, based on current leases, and net of expenses. |\n| Risk charge component | This item is calculated for each stress scenario type as the greater of zero and the impact on the fund’s capital base amount.If the impact on the fund’s capital base is less than zero then the risk charge component is equal to the absolute value of the impact on the fund’s capital base.If the impact on the fund’s capital base is greater than zero then the risk charge component is zero. |\n\nS\n\n| Stress scenario amount | This the contribution of the relevant items towards the change in capital base under the stress scenario types.Specifications of the stresses are determined in accordance with HPS 114. |\n| ---------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Stress scenario type | This consists of the stress scenarios that must be applied to individual items under HPS 114. The scenarios are:real interest rates upwards stress;real interest rates downwards stress;expected inflation upwards stress;expected inflation downwards stress;currency upwards stress;currency downwards stress;equity stress;property stress;credit spreads stress; anddefault stress. |\n\nY\n\n| Yields used in stress scenarios percent | This is the percentage values of yields used in stress scenarios type. |\n| --------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |\n| Yields used in stress scenarios type | This consists of the types of yields used in stress scenarios that must be applied to individual items under HPS 114. The yield types are:dividend yield used in determination of equity stress;rental yield used in determination of property stress; andearnings yield used in determination of property stress. |","sortOrder":22},{"sectionNumber":"Specific instructions","sectionType":"part","heading":"Specific instructions","content":"## Specific instructions\n\n### Table 1: Adjusted Pre-Stress Amount\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport all relevant items within the balance sheet of the health benefits fund or general fund as listed under items subject to Asset Risk Charge type.\n\nReport values before the application of any designated asset stresses, and net of the effect of any look-through adjustments.\n\n#### Units of measurement\n\nReport values in whole Australian dollars (no decimal places).\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Items Subject To Asset Risk Charge Type | Accounting assets subject to stress:Cash and cash equivalentsCurrent tax assetsInterest rate investments (direct)Equities (direct)Property (direct)Loans (direct)Indirect investmentsDeferred tax assetsDerivatives (assets)Investments in related entities (associates, joint ventures, subsidiaries)Other assets subject to Asset Risk ChargeAccounting liabilities subject to stress:Deferred tax liabilitiesDerivatives (liabilities)Other liabilities subject to Asset Risk ChargeHPS 340 Insurance liabilities subject to stress:HPS 340 outstanding claims liabilitiesHPS 340 premium liabilitiesHPS 340 risk equalisation transfersHPS 340 other insurance liabilitiesHPS 340 deferred claims liabilityCapital regulatory receivable adjustments subject to stress:Premiums receivableNon-reinsurance recoveries receivableOther accounts receivable on insurance contracts issuedCapital regulatory payable adjustments subject to stress:Claims payableAmounts payable on reinsurance contracts heldOther accounts payable on insurance contracts issuedHPS 340 reinsurance assets subject to default stress:Reinsurance recoverables on outstanding claimsAmounts receivable on reinsurance contracts heldExpected reinsurance recoveriesOther reinsurance assetsOff balance sheet exposures subject to stress:Off-balance sheet exposures | Report the items subject to Asset Risk Charge type.Items categorised under accounting assets subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract assets; andReinsurance contract assets.Items categorised under accounting liabilities subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract liabilities; andReinsurance contract liabilities. |\n| 4 | Adjusted Pre-Stress Amount | Whole dollars | Report the adjusted pre-stress amounts on a look-through fair value basis. Report items as positive values. HPS 340 risk equalisation transfers are to be reported as a negative value where receivables are expected from the Risk Equalisation Special Account. |\n\n \n\n### Table 2: Impact on Capital Base\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport the impacts on the health benefits fund’s or general fund’s capital base of the application of the stress scenario types. Reported values in Column 5 should represent the contribution of the relevant items in Column 3 to the change in capital base under a given stress scenario type in Column 4. Report decreases to assets and increases to liabilities as negative values in Column 5. Report increases to assets and decreases to liabilities as positive values in Column 5.\n\n#### Units of measurement\n\nReport values in whole Australian dollars (no decimal places).\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Items Subject To Asset Risk Charge Type | Accounting assets subject to stress:Cash and cash equivalentsCurrent tax assetsInterest rate investments (direct)Equities (direct)Property (direct)Loans (direct)Indirect investmentsDeferred tax assetsDerivatives (assets)Investments in related entities (associates, joint ventures, subsidiaries)Other assets subject to Asset Risk ChargeAccounting liabilities subject to stress:Deferred tax liabilitiesDerivatives (liabilities)Other liabilities subject to Asset Risk ChargeHPS 340 Insurance liabilities subject to stress:HPS 340 outstanding claims liabilitiesHPS 340 premium liabilitiesHPS 340 risk equalisation transfersHPS 340 other insurance liabilitiesHPS 340 deferred claims liabilityCapital regulatory receivable adjustments subject to stress:Premiums receivableNon-reinsurance recoveries receivableOther accounts receivable on insurance contracts issuedCapital regulatory payable adjustments subject to stress:Claims payableAmounts payable on reinsurance contracts heldOther accounts payable on insurance contracts issuedHPS 340 reinsurance assets subject to default stress:Reinsurance recoverables on outstanding claimsAmounts receivable on reinsurance contracts heldExpected reinsurance recoveriesOther reinsurance assetsOff balance sheet exposures subject to stress:Off-balance sheet exposures | Report the items subject to Asset Risk Charge type.Items categorised under accounting assets subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract assets; andReinsurance contract assets.Items categorised under accounting liabilities subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract liabilities; andReinsurance contract liabilities. |\n| 4 | Stress Scenario Type | Real interest rates upwards stressReal interest rates downwards stressExpected inflation upwards stressExpected inflation downwards stressCurrency upwards stressCurrency downwards stressEquity stressProperty stressCredit spreads stressDefault stress | Report the stress scenario type.Default stress must be assigned to the data items under HPS 340 reinsurance assets subject to default stress. |\n| 5 | Stress Scenario Amount | Whole dollars | Report the stress scenario amount.A negative number indicates a reduction in the capital base.Report decreases to assets and increases to liabilities as negative values.Report increases to assets and decreases to liabilities as positive values. |\n\n \n\n### Table 3: Counterparty Grade\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport the fair value and stressed value of assets that are subject to credit spreads stress, subdivided by counterparty grade type and assets subject to credit spreads stress type.\n\n#### Units of measurement\n\nReport values in whole Australian dollars.\n\n| | Name | Valid values | Description |\n| --- | -------------------------------------------- | ---------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Assets Subject To Credit Spreads Stress Type | Bonds & other non-securitised assetsStructured / securitised assetsRe-securitised assets | Report the assets subject to credit spreads stress type. |\n| 4 | Counterparty Grade Type | Grade 1 (Government)Grade 1 (Other)Grade 2Grade 3Grade 4Grade 5Grade 6Grade 7 | Report the counterparty grade type. |\n| 5 | Credit Spread Fair Value Amount | Whole dollars | Report the credit spread fair value amount. |\n| 6 | Credit Spread Stressed Amount | Whole dollars | Report the credit spread stressed amount. |\n\n \n\n### Table 4: Yields\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport each of the yields used in stress scenarios as at the reporting date.\n\n#### Units of measurement\n\nReport all percentages as percentage points to two decimal places.\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Yields Used In Stress Scenarios Type | Dividend yield used in determination of equity stressRental yield used in determination of property stressEarnings yield used in determination of property stress | Report the yields used in stress scenarios type.Dividend yield used in determination of equity stress is only required if the risk charge component for the equity stress is greater than zero.Rental yield used in determination of property stress is only required if the risk charge component for the property stress is greater than zero due to property assets. If rental yields and falls in value have been determined separately for each property asset, enter an estimate of the average rental yield for this item.Earnings yield used in determination of property stress is only required if the risk charge component for the property stress is greater than zero due to infrastructure assets. |\n| 4 | Yields Used In Stress Scenarios Percent | Percentage | Report the yields used in stress scenarios percent. |","sortOrder":23},{"sectionNumber":"Table 1: Adjusted Pre-Stress Amount","sectionType":"division","heading":"Table 1: Adjusted Pre-Stress Amount","content":"## Specific instructions\n\n### Table 1: Adjusted Pre-Stress Amount\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport all relevant items within the balance sheet of the health benefits fund or general fund as listed under items subject to Asset Risk Charge type.\n\nReport values before the application of any designated asset stresses, and net of the effect of any look-through adjustments.\n\n#### Units of measurement\n\nReport values in whole Australian dollars (no decimal places).\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Items Subject To Asset Risk Charge Type | Accounting assets subject to stress:Cash and cash equivalentsCurrent tax assetsInterest rate investments (direct)Equities (direct)Property (direct)Loans (direct)Indirect investmentsDeferred tax assetsDerivatives (assets)Investments in related entities (associates, joint ventures, subsidiaries)Other assets subject to Asset Risk ChargeAccounting liabilities subject to stress:Deferred tax liabilitiesDerivatives (liabilities)Other liabilities subject to Asset Risk ChargeHPS 340 Insurance liabilities subject to stress:HPS 340 outstanding claims liabilitiesHPS 340 premium liabilitiesHPS 340 risk equalisation transfersHPS 340 other insurance liabilitiesHPS 340 deferred claims liabilityCapital regulatory receivable adjustments subject to stress:Premiums receivableNon-reinsurance recoveries receivableOther accounts receivable on insurance contracts issuedCapital regulatory payable adjustments subject to stress:Claims payableAmounts payable on reinsurance contracts heldOther accounts payable on insurance contracts issuedHPS 340 reinsurance assets subject to default stress:Reinsurance recoverables on outstanding claimsAmounts receivable on reinsurance contracts heldExpected reinsurance recoveriesOther reinsurance assetsOff balance sheet exposures subject to stress:Off-balance sheet exposures | Report the items subject to Asset Risk Charge type.Items categorised under accounting assets subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract assets; andReinsurance contract assets.Items categorised under accounting liabilities subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract liabilities; andReinsurance contract liabilities. |\n| 4 | Adjusted Pre-Stress Amount | Whole dollars | Report the adjusted pre-stress amounts on a look-through fair value basis. Report items as positive values. HPS 340 risk equalisation transfers are to be reported as a negative value where receivables are expected from the Risk Equalisation Special Account. |\n\n \n\n### Table 2: Impact on Capital Base\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport the impacts on the health benefits fund’s or general fund’s capital base of the application of the stress scenario types. Reported values in Column 5 should represent the contribution of the relevant items in Column 3 to the change in capital base under a given stress scenario type in Column 4. Report decreases to assets and increases to liabilities as negative values in Column 5. Report increases to assets and decreases to liabilities as positive values in Column 5.\n\n#### Units of measurement\n\nReport values in whole Australian dollars (no decimal places).\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Items Subject To Asset Risk Charge Type | Accounting assets subject to stress:Cash and cash equivalentsCurrent tax assetsInterest rate investments (direct)Equities (direct)Property (direct)Loans (direct)Indirect investmentsDeferred tax assetsDerivatives (assets)Investments in related entities (associates, joint ventures, subsidiaries)Other assets subject to Asset Risk ChargeAccounting liabilities subject to stress:Deferred tax liabilitiesDerivatives (liabilities)Other liabilities subject to Asset Risk ChargeHPS 340 Insurance liabilities subject to stress:HPS 340 outstanding claims liabilitiesHPS 340 premium liabilitiesHPS 340 risk equalisation transfersHPS 340 other insurance liabilitiesHPS 340 deferred claims liabilityCapital regulatory receivable adjustments subject to stress:Premiums receivableNon-reinsurance recoveries receivableOther accounts receivable on insurance contracts issuedCapital regulatory payable adjustments subject to stress:Claims payableAmounts payable on reinsurance contracts heldOther accounts payable on insurance contracts issuedHPS 340 reinsurance assets subject to default stress:Reinsurance recoverables on outstanding claimsAmounts receivable on reinsurance contracts heldExpected reinsurance recoveriesOther reinsurance assetsOff balance sheet exposures subject to stress:Off-balance sheet exposures | Report the items subject to Asset Risk Charge type.Items categorised under accounting assets subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract assets; andReinsurance contract assets.Items categorised under accounting liabilities subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract liabilities; andReinsurance contract liabilities. |\n| 4 | Stress Scenario Type | Real interest rates upwards stressReal interest rates downwards stressExpected inflation upwards stressExpected inflation downwards stressCurrency upwards stressCurrency downwards stressEquity stressProperty stressCredit spreads stressDefault stress | Report the stress scenario type.Default stress must be assigned to the data items under HPS 340 reinsurance assets subject to default stress. |\n| 5 | Stress Scenario Amount | Whole dollars | Report the stress scenario amount.A negative number indicates a reduction in the capital base.Report decreases to assets and increases to liabilities as negative values.Report increases to assets and decreases to liabilities as positive values. |\n\n \n\n### Table 3: Counterparty Grade\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport the fair value and stressed value of assets that are subject to credit spreads stress, subdivided by counterparty grade type and assets subject to credit spreads stress type.\n\n#### Units of measurement\n\nReport values in whole Australian dollars.\n\n| | Name | Valid values | Description |\n| --- | -------------------------------------------- | ---------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Assets Subject To Credit Spreads Stress Type | Bonds & other non-securitised assetsStructured / securitised assetsRe-securitised assets | Report the assets subject to credit spreads stress type. |\n| 4 | Counterparty Grade Type | Grade 1 (Government)Grade 1 (Other)Grade 2Grade 3Grade 4Grade 5Grade 6Grade 7 | Report the counterparty grade type. |\n| 5 | Credit Spread Fair Value Amount | Whole dollars | Report the credit spread fair value amount. |\n| 6 | Credit Spread Stressed Amount | Whole dollars | Report the credit spread stressed amount. |\n\n \n\n### Table 4: Yields\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport each of the yields used in stress scenarios as at the reporting date.\n\n#### Units of measurement\n\nReport all percentages as percentage points to two decimal places.\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Yields Used In Stress Scenarios Type | Dividend yield used in determination of equity stressRental yield used in determination of property stressEarnings yield used in determination of property stress | Report the yields used in stress scenarios type.Dividend yield used in determination of equity stress is only required if the risk charge component for the equity stress is greater than zero.Rental yield used in determination of property stress is only required if the risk charge component for the property stress is greater than zero due to property assets. If rental yields and falls in value have been determined separately for each property asset, enter an estimate of the average rental yield for this item.Earnings yield used in determination of property stress is only required if the risk charge component for the property stress is greater than zero due to infrastructure assets. |\n| 4 | Yields Used In Stress Scenarios Percent | Percentage | Report the yields used in stress scenarios percent. |","sortOrder":24},{"sectionNumber":"Reporting basis","sectionType":"subdivision","heading":"Reporting basis","content":"#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport all relevant items within the balance sheet of the health benefits fund or general fund as listed under items subject to Asset Risk Charge type.\n\nReport values before the application of any designated asset stresses, and net of the effect of any look-through adjustments.","sortOrder":25},{"sectionNumber":"Units of measurement","sectionType":"subdivision","heading":"Units of measurement","content":"#### Units of measurement\n\nReport values in whole Australian dollars (no decimal places).\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Items Subject To Asset Risk Charge Type | Accounting assets subject to stress:Cash and cash equivalentsCurrent tax assetsInterest rate investments (direct)Equities (direct)Property (direct)Loans (direct)Indirect investmentsDeferred tax assetsDerivatives (assets)Investments in related entities (associates, joint ventures, subsidiaries)Other assets subject to Asset Risk ChargeAccounting liabilities subject to stress:Deferred tax liabilitiesDerivatives (liabilities)Other liabilities subject to Asset Risk ChargeHPS 340 Insurance liabilities subject to stress:HPS 340 outstanding claims liabilitiesHPS 340 premium liabilitiesHPS 340 risk equalisation transfersHPS 340 other insurance liabilitiesHPS 340 deferred claims liabilityCapital regulatory receivable adjustments subject to stress:Premiums receivableNon-reinsurance recoveries receivableOther accounts receivable on insurance contracts issuedCapital regulatory payable adjustments subject to stress:Claims payableAmounts payable on reinsurance contracts heldOther accounts payable on insurance contracts issuedHPS 340 reinsurance assets subject to default stress:Reinsurance recoverables on outstanding claimsAmounts receivable on reinsurance contracts heldExpected reinsurance recoveriesOther reinsurance assetsOff balance sheet exposures subject to stress:Off-balance sheet exposures | Report the items subject to Asset Risk Charge type.Items categorised under accounting assets subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract assets; andReinsurance contract assets.Items categorised under accounting liabilities subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract liabilities; andReinsurance contract liabilities. |\n| 4 | Adjusted Pre-Stress Amount | Whole dollars | Report the adjusted pre-stress amounts on a look-through fair value basis. Report items as positive values. HPS 340 risk equalisation transfers are to be reported as a negative value where receivables are expected from the Risk Equalisation Special Account. |","sortOrder":26},{"sectionNumber":"Table 2: Impact on Capital Base","sectionType":"division","heading":"Table 2: Impact on Capital Base","content":"## Specific instructions\n\n### Table 1: Adjusted Pre-Stress Amount\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport all relevant items within the balance sheet of the health benefits fund or general fund as listed under items subject to Asset Risk Charge type.\n\nReport values before the application of any designated asset stresses, and net of the effect of any look-through adjustments.\n\n#### Units of measurement\n\nReport values in whole Australian dollars (no decimal places).\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Items Subject To Asset Risk Charge Type | Accounting assets subject to stress:Cash and cash equivalentsCurrent tax assetsInterest rate investments (direct)Equities (direct)Property (direct)Loans (direct)Indirect investmentsDeferred tax assetsDerivatives (assets)Investments in related entities (associates, joint ventures, subsidiaries)Other assets subject to Asset Risk ChargeAccounting liabilities subject to stress:Deferred tax liabilitiesDerivatives (liabilities)Other liabilities subject to Asset Risk ChargeHPS 340 Insurance liabilities subject to stress:HPS 340 outstanding claims liabilitiesHPS 340 premium liabilitiesHPS 340 risk equalisation transfersHPS 340 other insurance liabilitiesHPS 340 deferred claims liabilityCapital regulatory receivable adjustments subject to stress:Premiums receivableNon-reinsurance recoveries receivableOther accounts receivable on insurance contracts issuedCapital regulatory payable adjustments subject to stress:Claims payableAmounts payable on reinsurance contracts heldOther accounts payable on insurance contracts issuedHPS 340 reinsurance assets subject to default stress:Reinsurance recoverables on outstanding claimsAmounts receivable on reinsurance contracts heldExpected reinsurance recoveriesOther reinsurance assetsOff balance sheet exposures subject to stress:Off-balance sheet exposures | Report the items subject to Asset Risk Charge type.Items categorised under accounting assets subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract assets; andReinsurance contract assets.Items categorised under accounting liabilities subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract liabilities; andReinsurance contract liabilities. |\n| 4 | Adjusted Pre-Stress Amount | Whole dollars | Report the adjusted pre-stress amounts on a look-through fair value basis. Report items as positive values. HPS 340 risk equalisation transfers are to be reported as a negative value where receivables are expected from the Risk Equalisation Special Account. |\n\n \n\n### Table 2: Impact on Capital Base\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport the impacts on the health benefits fund’s or general fund’s capital base of the application of the stress scenario types. Reported values in Column 5 should represent the contribution of the relevant items in Column 3 to the change in capital base under a given stress scenario type in Column 4. Report decreases to assets and increases to liabilities as negative values in Column 5. Report increases to assets and decreases to liabilities as positive values in Column 5.\n\n#### Units of measurement\n\nReport values in whole Australian dollars (no decimal places).\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Items Subject To Asset Risk Charge Type | Accounting assets subject to stress:Cash and cash equivalentsCurrent tax assetsInterest rate investments (direct)Equities (direct)Property (direct)Loans (direct)Indirect investmentsDeferred tax assetsDerivatives (assets)Investments in related entities (associates, joint ventures, subsidiaries)Other assets subject to Asset Risk ChargeAccounting liabilities subject to stress:Deferred tax liabilitiesDerivatives (liabilities)Other liabilities subject to Asset Risk ChargeHPS 340 Insurance liabilities subject to stress:HPS 340 outstanding claims liabilitiesHPS 340 premium liabilitiesHPS 340 risk equalisation transfersHPS 340 other insurance liabilitiesHPS 340 deferred claims liabilityCapital regulatory receivable adjustments subject to stress:Premiums receivableNon-reinsurance recoveries receivableOther accounts receivable on insurance contracts issuedCapital regulatory payable adjustments subject to stress:Claims payableAmounts payable on reinsurance contracts heldOther accounts payable on insurance contracts issuedHPS 340 reinsurance assets subject to default stress:Reinsurance recoverables on outstanding claimsAmounts receivable on reinsurance contracts heldExpected reinsurance recoveriesOther reinsurance assetsOff balance sheet exposures subject to stress:Off-balance sheet exposures | Report the items subject to Asset Risk Charge type.Items categorised under accounting assets subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract assets; andReinsurance contract assets.Items categorised under accounting liabilities subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract liabilities; andReinsurance contract liabilities. |\n| 4 | Stress Scenario Type | Real interest rates upwards stressReal interest rates downwards stressExpected inflation upwards stressExpected inflation downwards stressCurrency upwards stressCurrency downwards stressEquity stressProperty stressCredit spreads stressDefault stress | Report the stress scenario type.Default stress must be assigned to the data items under HPS 340 reinsurance assets subject to default stress. |\n| 5 | Stress Scenario Amount | Whole dollars | Report the stress scenario amount.A negative number indicates a reduction in the capital base.Report decreases to assets and increases to liabilities as negative values.Report increases to assets and decreases to liabilities as positive values. |\n\n \n\n### Table 3: Counterparty Grade\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport the fair value and stressed value of assets that are subject to credit spreads stress, subdivided by counterparty grade type and assets subject to credit spreads stress type.\n\n#### Units of measurement\n\nReport values in whole Australian dollars.\n\n| | Name | Valid values | Description |\n| --- | -------------------------------------------- | ---------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Assets Subject To Credit Spreads Stress Type | Bonds & other non-securitised assetsStructured / securitised assetsRe-securitised assets | Report the assets subject to credit spreads stress type. |\n| 4 | Counterparty Grade Type | Grade 1 (Government)Grade 1 (Other)Grade 2Grade 3Grade 4Grade 5Grade 6Grade 7 | Report the counterparty grade type. |\n| 5 | Credit Spread Fair Value Amount | Whole dollars | Report the credit spread fair value amount. |\n| 6 | Credit Spread Stressed Amount | Whole dollars | Report the credit spread stressed amount. |\n\n \n\n### Table 4: Yields\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport each of the yields used in stress scenarios as at the reporting date.\n\n#### Units of measurement\n\nReport all percentages as percentage points to two decimal places.\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Yields Used In Stress Scenarios Type | Dividend yield used in determination of equity stressRental yield used in determination of property stressEarnings yield used in determination of property stress | Report the yields used in stress scenarios type.Dividend yield used in determination of equity stress is only required if the risk charge component for the equity stress is greater than zero.Rental yield used in determination of property stress is only required if the risk charge component for the property stress is greater than zero due to property assets. If rental yields and falls in value have been determined separately for each property asset, enter an estimate of the average rental yield for this item.Earnings yield used in determination of property stress is only required if the risk charge component for the property stress is greater than zero due to infrastructure assets. |\n| 4 | Yields Used In Stress Scenarios Percent | Percentage | Report the yields used in stress scenarios percent. |","sortOrder":27},{"sectionNumber":"Table 3: Counterparty Grade","sectionType":"division","heading":"Table 3: Counterparty Grade","content":"## Specific instructions\n\n### Table 1: Adjusted Pre-Stress Amount\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport all relevant items within the balance sheet of the health benefits fund or general fund as listed under items subject to Asset Risk Charge type.\n\nReport values before the application of any designated asset stresses, and net of the effect of any look-through adjustments.\n\n#### Units of measurement\n\nReport values in whole Australian dollars (no decimal places).\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Items Subject To Asset Risk Charge Type | Accounting assets subject to stress:Cash and cash equivalentsCurrent tax assetsInterest rate investments (direct)Equities (direct)Property (direct)Loans (direct)Indirect investmentsDeferred tax assetsDerivatives (assets)Investments in related entities (associates, joint ventures, subsidiaries)Other assets subject to Asset Risk ChargeAccounting liabilities subject to stress:Deferred tax liabilitiesDerivatives (liabilities)Other liabilities subject to Asset Risk ChargeHPS 340 Insurance liabilities subject to stress:HPS 340 outstanding claims liabilitiesHPS 340 premium liabilitiesHPS 340 risk equalisation transfersHPS 340 other insurance liabilitiesHPS 340 deferred claims liabilityCapital regulatory receivable adjustments subject to stress:Premiums receivableNon-reinsurance recoveries receivableOther accounts receivable on insurance contracts issuedCapital regulatory payable adjustments subject to stress:Claims payableAmounts payable on reinsurance contracts heldOther accounts payable on insurance contracts issuedHPS 340 reinsurance assets subject to default stress:Reinsurance recoverables on outstanding claimsAmounts receivable on reinsurance contracts heldExpected reinsurance recoveriesOther reinsurance assetsOff balance sheet exposures subject to stress:Off-balance sheet exposures | Report the items subject to Asset Risk Charge type.Items categorised under accounting assets subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract assets; andReinsurance contract assets.Items categorised under accounting liabilities subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract liabilities; andReinsurance contract liabilities. |\n| 4 | Adjusted Pre-Stress Amount | Whole dollars | Report the adjusted pre-stress amounts on a look-through fair value basis. Report items as positive values. HPS 340 risk equalisation transfers are to be reported as a negative value where receivables are expected from the Risk Equalisation Special Account. |\n\n \n\n### Table 2: Impact on Capital Base\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport the impacts on the health benefits fund’s or general fund’s capital base of the application of the stress scenario types. Reported values in Column 5 should represent the contribution of the relevant items in Column 3 to the change in capital base under a given stress scenario type in Column 4. Report decreases to assets and increases to liabilities as negative values in Column 5. Report increases to assets and decreases to liabilities as positive values in Column 5.\n\n#### Units of measurement\n\nReport values in whole Australian dollars (no decimal places).\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Items Subject To Asset Risk Charge Type | Accounting assets subject to stress:Cash and cash equivalentsCurrent tax assetsInterest rate investments (direct)Equities (direct)Property (direct)Loans (direct)Indirect investmentsDeferred tax assetsDerivatives (assets)Investments in related entities (associates, joint ventures, subsidiaries)Other assets subject to Asset Risk ChargeAccounting liabilities subject to stress:Deferred tax liabilitiesDerivatives (liabilities)Other liabilities subject to Asset Risk ChargeHPS 340 Insurance liabilities subject to stress:HPS 340 outstanding claims liabilitiesHPS 340 premium liabilitiesHPS 340 risk equalisation transfersHPS 340 other insurance liabilitiesHPS 340 deferred claims liabilityCapital regulatory receivable adjustments subject to stress:Premiums receivableNon-reinsurance recoveries receivableOther accounts receivable on insurance contracts issuedCapital regulatory payable adjustments subject to stress:Claims payableAmounts payable on reinsurance contracts heldOther accounts payable on insurance contracts issuedHPS 340 reinsurance assets subject to default stress:Reinsurance recoverables on outstanding claimsAmounts receivable on reinsurance contracts heldExpected reinsurance recoveriesOther reinsurance assetsOff balance sheet exposures subject to stress:Off-balance sheet exposures | Report the items subject to Asset Risk Charge type.Items categorised under accounting assets subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract assets; andReinsurance contract assets.Items categorised under accounting liabilities subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract liabilities; andReinsurance contract liabilities. |\n| 4 | Stress Scenario Type | Real interest rates upwards stressReal interest rates downwards stressExpected inflation upwards stressExpected inflation downwards stressCurrency upwards stressCurrency downwards stressEquity stressProperty stressCredit spreads stressDefault stress | Report the stress scenario type.Default stress must be assigned to the data items under HPS 340 reinsurance assets subject to default stress. |\n| 5 | Stress Scenario Amount | Whole dollars | Report the stress scenario amount.A negative number indicates a reduction in the capital base.Report decreases to assets and increases to liabilities as negative values.Report increases to assets and decreases to liabilities as positive values. |\n\n \n\n### Table 3: Counterparty Grade\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport the fair value and stressed value of assets that are subject to credit spreads stress, subdivided by counterparty grade type and assets subject to credit spreads stress type.\n\n#### Units of measurement\n\nReport values in whole Australian dollars.\n\n| | Name | Valid values | Description |\n| --- | -------------------------------------------- | ---------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Assets Subject To Credit Spreads Stress Type | Bonds & other non-securitised assetsStructured / securitised assetsRe-securitised assets | Report the assets subject to credit spreads stress type. |\n| 4 | Counterparty Grade Type | Grade 1 (Government)Grade 1 (Other)Grade 2Grade 3Grade 4Grade 5Grade 6Grade 7 | Report the counterparty grade type. |\n| 5 | Credit Spread Fair Value Amount | Whole dollars | Report the credit spread fair value amount. |\n| 6 | Credit Spread Stressed Amount | Whole dollars | Report the credit spread stressed amount. |\n\n \n\n### Table 4: Yields\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport each of the yields used in stress scenarios as at the reporting date.\n\n#### Units of measurement\n\nReport all percentages as percentage points to two decimal places.\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Yields Used In Stress Scenarios Type | Dividend yield used in determination of equity stressRental yield used in determination of property stressEarnings yield used in determination of property stress | Report the yields used in stress scenarios type.Dividend yield used in determination of equity stress is only required if the risk charge component for the equity stress is greater than zero.Rental yield used in determination of property stress is only required if the risk charge component for the property stress is greater than zero due to property assets. If rental yields and falls in value have been determined separately for each property asset, enter an estimate of the average rental yield for this item.Earnings yield used in determination of property stress is only required if the risk charge component for the property stress is greater than zero due to infrastructure assets. |\n| 4 | Yields Used In Stress Scenarios Percent | Percentage | Report the yields used in stress scenarios percent. |","sortOrder":30},{"sectionNumber":"Table 4: Yields","sectionType":"division","heading":"Table 4: Yields","content":"## Specific instructions\n\n### Table 1: Adjusted Pre-Stress Amount\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport all relevant items within the balance sheet of the health benefits fund or general fund as listed under items subject to Asset Risk Charge type.\n\nReport values before the application of any designated asset stresses, and net of the effect of any look-through adjustments.\n\n#### Units of measurement\n\nReport values in whole Australian dollars (no decimal places).\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Items Subject To Asset Risk Charge Type | Accounting assets subject to stress:Cash and cash equivalentsCurrent tax assetsInterest rate investments (direct)Equities (direct)Property (direct)Loans (direct)Indirect investmentsDeferred tax assetsDerivatives (assets)Investments in related entities (associates, joint ventures, subsidiaries)Other assets subject to Asset Risk ChargeAccounting liabilities subject to stress:Deferred tax liabilitiesDerivatives (liabilities)Other liabilities subject to Asset Risk ChargeHPS 340 Insurance liabilities subject to stress:HPS 340 outstanding claims liabilitiesHPS 340 premium liabilitiesHPS 340 risk equalisation transfersHPS 340 other insurance liabilitiesHPS 340 deferred claims liabilityCapital regulatory receivable adjustments subject to stress:Premiums receivableNon-reinsurance recoveries receivableOther accounts receivable on insurance contracts issuedCapital regulatory payable adjustments subject to stress:Claims payableAmounts payable on reinsurance contracts heldOther accounts payable on insurance contracts issuedHPS 340 reinsurance assets subject to default stress:Reinsurance recoverables on outstanding claimsAmounts receivable on reinsurance contracts heldExpected reinsurance recoveriesOther reinsurance assetsOff balance sheet exposures subject to stress:Off-balance sheet exposures | Report the items subject to Asset Risk Charge type.Items categorised under accounting assets subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract assets; andReinsurance contract assets.Items categorised under accounting liabilities subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract liabilities; andReinsurance contract liabilities. |\n| 4 | Adjusted Pre-Stress Amount | Whole dollars | Report the adjusted pre-stress amounts on a look-through fair value basis. Report items as positive values. HPS 340 risk equalisation transfers are to be reported as a negative value where receivables are expected from the Risk Equalisation Special Account. |\n\n \n\n### Table 2: Impact on Capital Base\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport the impacts on the health benefits fund’s or general fund’s capital base of the application of the stress scenario types. Reported values in Column 5 should represent the contribution of the relevant items in Column 3 to the change in capital base under a given stress scenario type in Column 4. Report decreases to assets and increases to liabilities as negative values in Column 5. Report increases to assets and decreases to liabilities as positive values in Column 5.\n\n#### Units of measurement\n\nReport values in whole Australian dollars (no decimal places).\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Items Subject To Asset Risk Charge Type | Accounting assets subject to stress:Cash and cash equivalentsCurrent tax assetsInterest rate investments (direct)Equities (direct)Property (direct)Loans (direct)Indirect investmentsDeferred tax assetsDerivatives (assets)Investments in related entities (associates, joint ventures, subsidiaries)Other assets subject to Asset Risk ChargeAccounting liabilities subject to stress:Deferred tax liabilitiesDerivatives (liabilities)Other liabilities subject to Asset Risk ChargeHPS 340 Insurance liabilities subject to stress:HPS 340 outstanding claims liabilitiesHPS 340 premium liabilitiesHPS 340 risk equalisation transfersHPS 340 other insurance liabilitiesHPS 340 deferred claims liabilityCapital regulatory receivable adjustments subject to stress:Premiums receivableNon-reinsurance recoveries receivableOther accounts receivable on insurance contracts issuedCapital regulatory payable adjustments subject to stress:Claims payableAmounts payable on reinsurance contracts heldOther accounts payable on insurance contracts issuedHPS 340 reinsurance assets subject to default stress:Reinsurance recoverables on outstanding claimsAmounts receivable on reinsurance contracts heldExpected reinsurance recoveriesOther reinsurance assetsOff balance sheet exposures subject to stress:Off-balance sheet exposures | Report the items subject to Asset Risk Charge type.Items categorised under accounting assets subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract assets; andReinsurance contract assets.Items categorised under accounting liabilities subject to stress must exclude the following items from the AASB 17 balance sheet:Insurance contract liabilities; andReinsurance contract liabilities. |\n| 4 | Stress Scenario Type | Real interest rates upwards stressReal interest rates downwards stressExpected inflation upwards stressExpected inflation downwards stressCurrency upwards stressCurrency downwards stressEquity stressProperty stressCredit spreads stressDefault stress | Report the stress scenario type.Default stress must be assigned to the data items under HPS 340 reinsurance assets subject to default stress. |\n| 5 | Stress Scenario Amount | Whole dollars | Report the stress scenario amount.A negative number indicates a reduction in the capital base.Report decreases to assets and increases to liabilities as negative values.Report increases to assets and decreases to liabilities as positive values. |\n\n \n\n### Table 3: Counterparty Grade\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport the fair value and stressed value of assets that are subject to credit spreads stress, subdivided by counterparty grade type and assets subject to credit spreads stress type.\n\n#### Units of measurement\n\nReport values in whole Australian dollars.\n\n| | Name | Valid values | Description |\n| --- | -------------------------------------------- | ---------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Assets Subject To Credit Spreads Stress Type | Bonds & other non-securitised assetsStructured / securitised assetsRe-securitised assets | Report the assets subject to credit spreads stress type. |\n| 4 | Counterparty Grade Type | Grade 1 (Government)Grade 1 (Other)Grade 2Grade 3Grade 4Grade 5Grade 6Grade 7 | Report the counterparty grade type. |\n| 5 | Credit Spread Fair Value Amount | Whole dollars | Report the credit spread fair value amount. |\n| 6 | Credit Spread Stressed Amount | Whole dollars | Report the credit spread stressed amount. |\n\n \n\n### Table 4: Yields\n\n#### Reporting basis\n\nThis table applies to health benefits funds and the general fund.\n\nReport each of the yields used in stress scenarios as at the reporting date.\n\n#### Units of measurement\n\nReport all percentages as percentage points to two decimal places.\n\n| | Name | Valid values | Description |\n| --- | --------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1 | Private Health Insurer Fund Type | Health benefits fundGeneral fund | Report the private health insurer fund type. |\n| 2 | Private Health Insurer Fund Name | Free text | Report the name of the private health insurer fund type. This is in the event an insurer has multiple health benefits funds.In the event an insurer has only one health benefits fund, its name should be the same as the insurer.For the general fund, report the same name as the insurer. |\n| 3 | Yields Used In Stress Scenarios Type | Dividend yield used in determination of equity stressRental yield used in determination of property stressEarnings yield used in determination of property stress | Report the yields used in stress scenarios type.Dividend yield used in determination of equity stress is only required if the risk charge component for the equity stress is greater than zero.Rental yield used in determination of property stress is only required if the risk charge component for the property stress is greater than zero due to property assets. If rental yields and falls in value have been determined separately for each property asset, enter an estimate of the average rental yield for this item.Earnings yield used in determination of property stress is only required if the risk charge component for the property stress is greater than zero due to infrastructure assets. |\n| 4 | Yields Used In Stress Scenarios Percent | Percentage | Report the yields used in stress scenarios percent. |","sortOrder":33}],"analysis":{"kimi_summary":{"_metrics":{"completionTokens":620},"content_quality":"ok","complexity_score":7,"scope_assessment":{"changed":false,"description":"This reporting standard appears tightly scoped to its original purpose: collecting asset risk charge data from private health insurers for prudential supervision. The detailed tables and definitions align with the stated objective of assessing compliance with capital standards under HPS 114. No significant scope creep detected."},"complexity_factors":["Extensive cross-referencing to other prudential standards (HPS 001, HPS 112, HPS 114, HPS 117, HPS 340, AASB 17)","47+ defined terms in the interpretation section with nested definitions","10 different stress scenario types with specific calculation methodologies","4 separate reporting tables with detailed field specifications and validation rules","Look-through treatment requirements (tracing underlying exposures through investment vehicles)","Complex netting and set-off rules for reinsurance and insurance contract items","Conditional reporting requirements (e.g., yields only required if risk charge component > 0)","Multiple fund types requiring separate reporting (health benefits fund vs general fund)","Strict consistency requirements with other reporting standards (HRS 112.0)","Detailed counterparty grading system (Grade 1-7) with rating uplift rules for government guarantees"],"plain_english_summary":"This reporting standard tells private health insurers exactly what investment-risk data to send APRA about their asset risk charge — the potential losses insurers could face from market, property, interest-rate, currency or credit shocks. It requires regular electronic quarterly and annual reporting, audited annual submissions, and board/senior management sign-off on controls, so APRA can assess insurers’ financial resilience and protect policyholders if investments suffer severe losses."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"flash_summary":{"complexity_score":8,"scope_assessment":{"changed":false,"description":"The Reporting Standard confines itself to collecting information necessary to calculate and supervise the Asset Risk Charge for private health insurers and must be read with Prudential Standard HPS 114 (Objective and scope paragraphs). The instrument formalises data fields, frequency, format, governance and audit requirements but does not broaden the statutory population or create new prudential powers beyond standard supervisory data collection. APRA’s discretion to vary reporting frequency or content for particular insurers (paras 7 and 16) increases operational flexibility but does not, on its face, change the statutory scope or original purpose of collecting asset risk information."},"complexity_factors":["Lengthy text with many repeated sections and duplication of instructions (document repeats large blocks).","Extensive cross‑referencing to other prudential standards and accounting standards (HPS 114, HPS 112, HPS 340, HPS 117, AASB 17, AASB 112) requiring combined interpretation (paras 17–18 and table notes).","High number of distinct reporting fields and line items — the Instructions and Tables together define well over 60 distinct items (e.g. cash, equities, property, loans, deferred tax, multiple HPS 340 line items, reinsurance items, off‑balance exposures, yields, stress types).","Multiple conditional rules and exceptions (e.g. look‑through treatment; exclude assets deducted from capital base or subject to concentration charge; report only positive risk charge components; special handling for reinsurance set‑off).","Several reporting layers: quarterly + annual reporting, plus APRA discretion to vary frequency and content for individual insurers (paras 6–7, 16).","Detailed format and measurement constraints (whole dollars for amounts; percentages to two decimals for yields; sign conventions for stress impacts; fair‑value and look‑through basis).","Audit and governance requirements: internal authorisation, Board/senior management responsibility, external audit certification and special requirements where prior year had qualified auditor’s report (paras 10–14).","Multiple tabular reporting templates (Table 1–4) with precise column‑level rules and cross‑field uniqueness constraints (\"Any specific combination of values in a table must not appear on more than one row\")."],"plain_english_summary":"**What this instrument does (mechanically)**\n\n- This is a reporting standard requiring every Australian private health insurer to supply APRA (the prudential regulator) with detailed data used to calculate the insurer’s Asset Risk Charge (the capital required to cover losses from asset value changes). (see Purpose and Application: paras 2–4)\n\n- It prescribes how, when and in what format that information must be provided: electronic submission via APRA systems (para 5); quarterly and annual reporting cycles (para 6–8); time limits for lodgement and extensions (paras 8–9); and four specific reporting tables (Adjusted Pre‑Stress Amount; Impact on Capital Base; Counterparty Grade; Yields). (paras 5–9; Reporting tables section; Tables 1–4)\n\n- It sets data content and measurement rules: look‑through treatment for pooled investments, gross reporting of derivatives, exclusions (assets already deducted from capital or subject to concentration charges), units/precision, and which stress scenarios to apply and report (only positive risk charge components). The tables list many individual balance‑sheet line items and stress types for which insurers must report pre‑stress values and stressed impacts. (General instructions; Asset stress scenario; Table instructions)\n\n- It requires governance and assurance around reported data: internal systems, Board/senior management responsibility for authorisation (para 10); annual external audit and auditor certificates aligning reported amounts with statutory accounts and capital standards (paras 11–14); and the submitter must be authorised by an officer of the insurer (para 15).\n\n- APRA retains operational discretion: it can vary reporting periods or frequency for a particular insurer and can vary reporting requirements in writing. APRA can also grant extensions. (paras 7, 9, 16)\n\n\n**Who this affects**\n\n- Directly: All entities that meet the statutory definition of a private health insurer (the Act) — each insurer must report at the fund level (health benefits fund(s) and the general fund). (para 3; Table 1)\n\n- Indirectly: auditors engaged by those insurers (annual certification) and the APRA teams who consume and analyse the data.\n\n\n**Why it matters (purpose and practical effect)**\n\n- APRA uses the submitted data for prudential supervision — principally to assess compliance with capital adequacy standards and to calculate or verify each insurer’s Asset Risk Charge. (para 2)\n\n- Mechanically, the standard makes the asset‑risk inputs (pre‑stress balances, stressed values by scenario, counterparty grading, and yield assumptions) auditable and standardised across the industry. That improves APRA’s comparability and oversight of insurers’ asset risks and capital positions.\n\n\n**Costs, incentives and trade‑offs (how it changes behaviour and who pays)**\n\n- Who pays: private health insurers bear compliance costs — systems to extract and transform data, add look‑through calculations, apply stress scenarios, produce APRA XML/CSV submissions, and fund annual external audits. (paras 4–5; paras 10–14; Tables)\n\n- Who decides: APRA decides reporting format, timing and can vary requirements for individual insurers. This gives APRA operational flexibility but increases regulatory discretion for affected firms. (paras 5, 7, 16)\n\n- Behavioural incentives: by standardising stress‑scenario reporting and requiring auditable links to statutory accounts and capital rules (references to Prudential Standards HPS 114, HPS 112, HPS 340 and relevant AASB standards), the standard increases the salience of asset allocations, counterparty exposures and reinsurance structures in capital assessments. Insurers have an incentive to ensure asset classifications, counterparty grades, and look‑through allocations are conservative and well‑documented to avoid higher measured risk charges.\n\n- Compliance burden and implementation risk: significant operational work is needed to map AASB/HPS balance sheet items into the reporting fields, implement look‑through rules, and run stress calculations consistent with HPS 114. Smaller insurers or those with bespoke investments may face higher relative costs. Audit timing (auditor’s report by 30 September) adds a hard annual deadline. (paras 10–14; Tables 1–4)\n\n- Concentrated benefits, diffuse costs: the principal benefit (improved regulatory oversight and consistent capital measurement) accrues to the regulator and, indirectly, system stability. The direct cost burden falls on insurers and their auditors — concentrated among those with more complex asset books or limited reporting infrastructure.\n\n\n**Operational and legal details to note**\n\n- Reporting frequency is standard quarterly + annual, but APRA can require more or less frequent reporting for particular insurers. (paras 6–7)\n\n- Insurers do not have to report asset stress components where a scenario would improve capital (i.e. result in zero risk charge) but must report any scenario producing a positive risk charge component. This reduces reporting volume for favourable scenarios but requires scenario‑by‑scenario checks. (Asset stress scenario)\n\n- The Reporting Standard cross‑references multiple prudential and accounting instruments (HPS 114, HPS 112, HPS 340, HPS 117, AASB 17, AASB 112). Compliance therefore requires reading those instruments together. (Interpretation: para 17–18; multiple references in definitions and table instructions)\n\n\n**Implementation risks and opportunities**\n\n- Risk: misclassification, inconsistent look‑through application, or poor mapping between statutory accounts and reported fields could generate audit qualifications and regulator queries. (paras 10–14; Table instructions)\n\n- Opportunity: insurers investing in robust data pipelines and controls reduce audit friction going forward and can use the stress outputs for their own risk management and capital planning.\n\n\n**Bottom line (mechanical change vs stated purpose)**\n\n- Mechanically, the instrument imposes a standardised, auditable reporting framework and timetable for all private health insurers to provide APRA with the inputs needed to calculate and supervise the Asset Risk Charge. The stated purpose is prudential supervision and assessing compliance with capital standards (para 2). The principal trade‑offs are increased regulatory transparency and supervisory comparability versus compliance and audit costs borne by insurers, plus APRA’s discretion to adjust reporting for individual firms (paras 7, 16)."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-104-of-2023","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-104-of-2023/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-104-of-2023/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-104-of-2023/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-104-of-2023/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-104-of-2023/documents"}}