{"id":"F2010L02324","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 4 of 2010 - GRS 140 (2010) - Investments","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-4-of-2010-grs-140-2010-inves","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":125084,"registerId":"commonwealth-F2010L02324-current","compilationNumber":null,"startDate":"2026-04-03","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Schedule","sectionType":"part","heading":"Schedule","content":"#   \nSchedule\n\nReporting Standard GRS 140 (2010) Investments comprises the 97 pages commencing on the next page.","sortOrder":0},{"sectionNumber":"Reporting Standard GRS 140 (2010)","sectionType":"part","heading":"Reporting Standard GRS 140 (2010)","content":"## Reporting Standard GRS 140 (2010)","sortOrder":1},{"sectionNumber":"Investments","sectionType":"part","heading":"Investments","content":"# Investments\n\n### Objective of this reporting standard\n\nThis reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires general insurers (insurers), including foreign general insurers operating in Australia through branch operations (foreign insurers), to report to APRA, generally on a quarterly and annual basis, the composition of their investments.\n\nThis reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with:\n\n-   Form GRF 140.0 Investments – Direct Interest Rate Holdings and Risk Charge (Form GRF 140.0) and the instructions to that form (which are attached and form part of this reporting standard);\n-   Form GRF 140.1 Investments – Direct Equity Holdings and Risk Charge (Form GRF 140.1) and the instructions to that form (which are attached and form part of this reporting standard);\n-   Form GRF 140.2 Investments – Direct Property Holdings and Risk Charge (GRF 140.2) and the instructions to that form (which are attached and form part of this reporting standard);\n-   Form GRF 140.3 Investments – Loans and Advances and Risk Charge (Form GRF 140.3) and the instructions to that form (which are attached and form part of this reporting standard);\n-   Form GRF 140.4 Investments – Indirectly Held by Insurer and Risk Charge (Form GRF 140.4) and the instructions to that form (which are attached and form part of this reporting standard); and\n-   any prudential standards referenced in the attached instructions.\n\n# Purpose\n\n1.  Data collected in Forms GRF 140.0, GRF 140.1, GRF 140.2, GRF 140.3 and GRF 140.4 is used by APRA for the purpose of prudential supervision including assessing an insurer’s compliance with the capital standards.[\\[1\\]](#_ftn1)\n\n# Application and commencement\n\n2. This reporting standard applies to all insurers for reporting periods ending on or after the date of registration of the reporting standard on the Federal Register of Legislative Instruments.\n\n# Information required\n\n3. An insurer must provide APRA with the information required by Forms GRF 140.0, GRF 140.1, GRF 140.2, GRF 140.3 and 140.4 for each reporting period.\n\n# Forms and method of submission\n\n4. The information required by this reporting standard must be given to APRA either:\n\n(a) in electronic form using the ‘Direct to APRA’ application, applying one of the electronic submission mechanisms under that application; or\n\n(b) by manually completing Forms GRF 140.0 , GRF 140.1, GRF 140.2, GRF 140.3 and GRF 140.4 on paper and mailing the completed form to APRA’s head office at Level 26, 400 George Street, Sydney, New South Wales.\n\nWhere the information is submitted by means of an agent to whom the insurer has outsourced the function of providing the information on the insurer’s behalf, the agent may only provide the information in accordance with subparagraph 4(b) if the agent has contacted APRA and advised that the agent cannot submit the information in electronic form under subparagraph 4(a).\n\nNote: the Direct to APRA application software and paper forms may be obtained from APRA.\n\n# Reporting periods and due dates\n\n5. Subject to paragraph 6, an insurer must provide the information required by this reporting standard:\n\n(a) in respect of each quarter based on the financial year (within the meaning of the Corporations Act 2001) of the insurer; and\n\n(b) in respect of each financial year (within the meaning of the Corporations Act 2001) of the insurer.\n\nNote: The annual information required by paragraph 3 read with subparagraph 5(b), together with certain annual information required by other reporting standards, will form part of the insurer’s yearly statutory accounts within the meaning of section 3 of the Insurance Act 1973 (the Insurance Act). This means that the information must be audited in accordance with paragraph 49J(1)(a) of the Insurance Act. Under subsection 49J(3), the auditor must give the insurer a certificate relating to the yearly statutory accounts, and that certificate must contain statements of the auditor’s opinions on the matters required by the prudential standards to be dealt with in the certificate..\n\n6. APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular insurer to require it to provide the information:\n\n(a) more frequently (if, having regard to the particular circumstances of the insurer, APRA considers it necessary or desirable to obtain information more frequently for the purposes of the prudential supervision of the insurer); or\n\n(b) less frequently (if, having regard to the particular circumstances of the insurer and the extent to which it requires prudential supervision, APRA considers it unnecessary to require the insurer to provide the information as frequently as provided by subparagraph 5(a) or (b)).\n\n7. The information required by paragraph 3 of this reporting standard from an insurer must be provided to APRA by the following times:\n\n(a) in the case of the quarterly information required by subparagraph 5(a) – 20 business days after the end of the reporting period to which the information relates; and\n\n(b) in the case of the annual information required by subparagraph 5(b) – 4 months after the end of the reporting period to which the information relates.\n\nNote: Paragraph 49L(1)(a) of the Insurance Act provides that the auditor’s certificate required under subsection 49J(3) of that Act must be lodged with APRA in accordance with the prudential standards. The prudential standards provide that the certificate must be submitted to APRA together with the yearly statutory accounts. Accordingly, the auditor’s certificate in relation to the annual information required by paragraph 3 read with subparagraph 5(b) must be provided to APRA by the time specified in subparagraph 7(b) of this reporting standard (unless an extension is granted under paragraph 8).\n\n8. APRA may grant an insurer an extension of a due date in writing, in which case the new due date for the provision of the information will be the date specified in the notice of extension.\n\n# Quality control\n\n9. The information provided by an insurer under this reporting standard must be the product of processes and controls that have been reviewed and tested by the approved auditor of the insurer. This will require the auditor to review and test the systems, processes and controls supporting the reporting of the information to ensure that they produce accurate data and are otherwise reliable. This review and testing must be done on an annual basis or more frequently if necessary to enable the approved auditor to form an opinion on the accuracy and reliability of the data.\n\n10. The information provided by an insurer under this reporting standard must be subject to processes and controls developed by the insurer for the internal review and authorisation of that information. It is the responsibility of the board and senior management of the insurer to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.\n\n# Authorisation\n\n11. If the officer of an insurer provides the information required by this reporting standard:\n\n(a) under subparagraph 4(a), the officer must digitally sign, authorise and encrypt the information (for which purpose APRA’s certificate authority will issue digital certificates, for use with the ‘Direct to APRA’ application, to officers of the insurer who have authority from the insurer to transmit data to APRA); or\n\n(b) under subparagraph 4(b), the completed forms must be signed in accordance with paragraph 13.\n\n12. If an insurer provides the information required by this reporting standard through an agent under either subparagraph 4(a) or (b), the agent will not be required to sign or authorise the information. However, the insurer must:\n\n(a) obtain from the agent a paper copy of the completed forms as provided to APRA (under either subparagraph 4(a) or (b)); and\n\n(b) cause the paper copies to be signed in accordance with paragraph 13; and\n\n(c) lodge the signed paper copies with APRA by mailing the completed forms to APRA’s head office at Level 26, 400 George Street, Sydney, New South Wales, by the relevant due date (unless APRA, in writing, waives the requirement in relation to the insurer to lodge the signed paper copies with APRA).\n\nNote: APRA may, for example, decide to waive the requirement under subparagraph 12(c) where an insurer has undertaken to retain the signed copies of the completed forms for an agreed period of time.\n\n13. If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed forms by either:\n\n(a) the Principal Executive Officer of the insurer; or\n\n(b) the Chief Financial Officer of the insurer (whatever his or her official title may be).\n\n# Minor alterations to forms and instructions\n\n14. APRA may make minor variations to the instructions to a form, to clarify their application to the form provided it does not involve changing any substantive requirement in the form or instructions.\n\n> 15. If APRA makes such a variation it must notify insurers of this in writing.\n\nTransition\n\n16. An insurer must report in relation to a reporting period ending prior to 1 July 2010 in accordance with the reporting standards that this reporting standard replaced.\n\n  \nInterpretation\n\n17. In this reporting standard:\n\nappointed auditor means an auditor appointed under paragraph 39(1)(a) of the Insurance Ac;\n\nbusiness days means ordinary business days, exclusive of Saturdays, Sundays and public holidays;\n\ncapital standards means the prudential standards which relate to capital adequacy as defined in Prudential Standard GPS 001 Definitions;\n\nforeign insurer means a foreign general insurer within the meaning of the Insurance Act;\n\nNote: A reference to a ‘branch’ or ‘branch operation’ is a reference to the Australian operations of a foreign insurer.\n\nInsurance Act means the Insurance Act 1973;\n\ninsurer means a general insurer within the meaning of the Insurance Act;\n\nNote: In the forms and instructions, a reference to an ‘authorised insurer’, ‘authorised insurance entity’ or ‘licensed insurer’ is a reference to an insurer, and a reference to an ‘authorised reinsurance entity’ is a reference to an insurer whose business consists only of undertaking liability by way of reinsurance.\n\n# Principal Executive Officer means the principal executive officer of the insurer for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the insurer;\n\nreporting period means a period mentioned in subparagraph 5(a) or (b) or, if appropriate, paragraph 6.\n\n18. A reference to a prudential standard means the prudential standard, made under section 32 of the Insurance Act, mentioned in the reference, as amended from time to time. If the prudential standard has been revoked and replaced, the reference shall be taken to be to the prudential standard that has replaced it.","sortOrder":2},{"sectionNumber":"Objective of this reporting standard","sectionType":"division","heading":"Objective of this reporting standard","content":"### Objective of this reporting standard\n\nThis reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (the Collection of Data Act). It requires general insurers (insurers), including foreign general insurers operating in Australia through branch operations (foreign insurers), to report to APRA, generally on a quarterly and annual basis, the composition of their investments.\n\nThis reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with:\n\n-   Form GRF 140.0 Investments – Direct Interest Rate Holdings and Risk Charge (Form GRF 140.0) and the instructions to that form (which are attached and form part of this reporting standard);\n-   Form GRF 140.1 Investments – Direct Equity Holdings and Risk Charge (Form GRF 140.1) and the instructions to that form (which are attached and form part of this reporting standard);\n-   Form GRF 140.2 Investments – Direct Property Holdings and Risk Charge (GRF 140.2) and the instructions to that form (which are attached and form part of this reporting standard);\n-   Form GRF 140.3 Investments – Loans and Advances and Risk Charge (Form GRF 140.3) and the instructions to that form (which are attached and form part of this reporting standard);\n-   Form GRF 140.4 Investments – Indirectly Held by Insurer and Risk Charge (Form GRF 140.4) and the instructions to that form (which are attached and form part of this reporting standard); and\n-   any prudential standards referenced in the attached instructions.","sortOrder":3},{"sectionNumber":"Purpose","sectionType":"part","heading":"Purpose","content":"# Purpose\n\n1.  Data collected in Forms GRF 140.0, GRF 140.1, GRF 140.2, GRF 140.3 and GRF 140.4 is used by APRA for the purpose of prudential supervision including assessing an insurer’s compliance with the capital standards.[\\[1\\]](#_ftn1)","sortOrder":4},{"sectionNumber":"Application and commencement","sectionType":"part","heading":"Application and commencement","content":"# Application and commencement\n\n2. This reporting standard applies to all insurers for reporting periods ending on or after the date of registration of the reporting standard on the Federal Register of Legislative Instruments.","sortOrder":5},{"sectionNumber":"Information required","sectionType":"part","heading":"Information required","content":"# Information required\n\n3. An insurer must provide APRA with the information required by Forms GRF 140.0, GRF 140.1, GRF 140.2, GRF 140.3 and 140.4 for each reporting period.","sortOrder":6},{"sectionNumber":"Forms and method of submission","sectionType":"part","heading":"Forms and method of submission","content":"# Forms and method of submission\n\n4. The information required by this reporting standard must be given to APRA either:\n\n(a) in electronic form using the ‘Direct to APRA’ application, applying one of the electronic submission mechanisms under that application; or\n\n(b) by manually completing Forms GRF 140.0 , GRF 140.1, GRF 140.2, GRF 140.3 and GRF 140.4 on paper and mailing the completed form to APRA’s head office at Level 26, 400 George Street, Sydney, New South Wales.\n\nWhere the information is submitted by means of an agent to whom the insurer has outsourced the function of providing the information on the insurer’s behalf, the agent may only provide the information in accordance with subparagraph 4(b) if the agent has contacted APRA and advised that the agent cannot submit the information in electronic form under subparagraph 4(a).\n\nNote: the Direct to APRA application software and paper forms may be obtained from APRA.","sortOrder":7},{"sectionNumber":"Reporting periods and due dates","sectionType":"part","heading":"Reporting periods and due dates","content":"# Reporting periods and due dates\n\n5. Subject to paragraph 6, an insurer must provide the information required by this reporting standard:\n\n(a) in respect of each quarter based on the financial year (within the meaning of the Corporations Act 2001) of the insurer; and\n\n(b) in respect of each financial year (within the meaning of the Corporations Act 2001) of the insurer.\n\nNote: The annual information required by paragraph 3 read with subparagraph 5(b), together with certain annual information required by other reporting standards, will form part of the insurer’s yearly statutory accounts within the meaning of section 3 of the Insurance Act 1973 (the Insurance Act). This means that the information must be audited in accordance with paragraph 49J(1)(a) of the Insurance Act. Under subsection 49J(3), the auditor must give the insurer a certificate relating to the yearly statutory accounts, and that certificate must contain statements of the auditor’s opinions on the matters required by the prudential standards to be dealt with in the certificate..\n\n6. APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular insurer to require it to provide the information:\n\n(a) more frequently (if, having regard to the particular circumstances of the insurer, APRA considers it necessary or desirable to obtain information more frequently for the purposes of the prudential supervision of the insurer); or\n\n(b) less frequently (if, having regard to the particular circumstances of the insurer and the extent to which it requires prudential supervision, APRA considers it unnecessary to require the insurer to provide the information as frequently as provided by subparagraph 5(a) or (b)).\n\n7. The information required by paragraph 3 of this reporting standard from an insurer must be provided to APRA by the following times:\n\n(a) in the case of the quarterly information required by subparagraph 5(a) – 20 business days after the end of the reporting period to which the information relates; and\n\n(b) in the case of the annual information required by subparagraph 5(b) – 4 months after the end of the reporting period to which the information relates.\n\nNote: Paragraph 49L(1)(a) of the Insurance Act provides that the auditor’s certificate required under subsection 49J(3) of that Act must be lodged with APRA in accordance with the prudential standards. The prudential standards provide that the certificate must be submitted to APRA together with the yearly statutory accounts. Accordingly, the auditor’s certificate in relation to the annual information required by paragraph 3 read with subparagraph 5(b) must be provided to APRA by the time specified in subparagraph 7(b) of this reporting standard (unless an extension is granted under paragraph 8).\n\n8. APRA may grant an insurer an extension of a due date in writing, in which case the new due date for the provision of the information will be the date specified in the notice of extension.","sortOrder":8},{"sectionNumber":"Quality control","sectionType":"part","heading":"Quality control","content":"# Quality control\n\n9. The information provided by an insurer under this reporting standard must be the product of processes and controls that have been reviewed and tested by the approved auditor of the insurer. This will require the auditor to review and test the systems, processes and controls supporting the reporting of the information to ensure that they produce accurate data and are otherwise reliable. This review and testing must be done on an annual basis or more frequently if necessary to enable the approved auditor to form an opinion on the accuracy and reliability of the data.\n\n10. The information provided by an insurer under this reporting standard must be subject to processes and controls developed by the insurer for the internal review and authorisation of that information. It is the responsibility of the board and senior management of the insurer to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.","sortOrder":9},{"sectionNumber":"Authorisation","sectionType":"part","heading":"Authorisation","content":"# Authorisation\n\n11. If the officer of an insurer provides the information required by this reporting standard:\n\n(a) under subparagraph 4(a), the officer must digitally sign, authorise and encrypt the information (for which purpose APRA’s certificate authority will issue digital certificates, for use with the ‘Direct to APRA’ application, to officers of the insurer who have authority from the insurer to transmit data to APRA); or\n\n(b) under subparagraph 4(b), the completed forms must be signed in accordance with paragraph 13.\n\n12. If an insurer provides the information required by this reporting standard through an agent under either subparagraph 4(a) or (b), the agent will not be required to sign or authorise the information. However, the insurer must:\n\n(a) obtain from the agent a paper copy of the completed forms as provided to APRA (under either subparagraph 4(a) or (b)); and\n\n(b) cause the paper copies to be signed in accordance with paragraph 13; and\n\n(c) lodge the signed paper copies with APRA by mailing the completed forms to APRA’s head office at Level 26, 400 George Street, Sydney, New South Wales, by the relevant due date (unless APRA, in writing, waives the requirement in relation to the insurer to lodge the signed paper copies with APRA).\n\nNote: APRA may, for example, decide to waive the requirement under subparagraph 12(c) where an insurer has undertaken to retain the signed copies of the completed forms for an agreed period of time.\n\n13. If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed forms by either:\n\n(a) the Principal Executive Officer of the insurer; or\n\n(b) the Chief Financial Officer of the insurer (whatever his or her official title may be).","sortOrder":10},{"sectionNumber":"Minor alterations to forms and instructi","sectionType":"part","heading":"Minor alterations to forms and instructions","content":"# Minor alterations to forms and instructions\n\n14. APRA may make minor variations to the instructions to a form, to clarify their application to the form provided it does not involve changing any substantive requirement in the form or instructions.\n\n> 15. If APRA makes such a variation it must notify insurers of this in writing.\n\nTransition\n\n16. An insurer must report in relation to a reporting period ending prior to 1 July 2010 in accordance with the reporting standards that this reporting standard replaced.\n\n  \nInterpretation\n\n17. In this reporting standard:\n\nappointed auditor means an auditor appointed under paragraph 39(1)(a) of the Insurance Ac;\n\nbusiness days means ordinary business days, exclusive of Saturdays, Sundays and public holidays;\n\ncapital standards means the prudential standards which relate to capital adequacy as defined in Prudential Standard GPS 001 Definitions;\n\nforeign insurer means a foreign general insurer within the meaning of the Insurance Act;\n\nNote: A reference to a ‘branch’ or ‘branch operation’ is a reference to the Australian operations of a foreign insurer.\n\nInsurance Act means the Insurance Act 1973;\n\ninsurer means a general insurer within the meaning of the Insurance Act;\n\nNote: In the forms and instructions, a reference to an ‘authorised insurer’, ‘authorised insurance entity’ or ‘licensed insurer’ is a reference to an insurer, and a reference to an ‘authorised reinsurance entity’ is a reference to an insurer whose business consists only of undertaking liability by way of reinsurance.","sortOrder":11},{"sectionNumber":"Principal Executive Officer means the pr","sectionType":"part","heading":"Principal Executive Officer means the principal executive officer of the insurer for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the insurer;","content":"# Principal Executive Officer means the principal executive officer of the insurer for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the insurer;\n\nreporting period means a period mentioned in subparagraph 5(a) or (b) or, if appropriate, paragraph 6.\n\n18. A reference to a prudential standard means the prudential standard, made under section 32 of the Insurance Act, mentioned in the reference, as amended from time to time. If the prudential standard has been revoked and replaced, the reference shall be taken to be to the prudential standard that has replaced it.","sortOrder":12},{"sectionNumber":"Instruction Guide","sectionType":"part","heading":"Instruction Guide","content":"# Instruction Guide\n\nIntroduction\n\nThis instruction guide is designed to assist in the completion of GRF 140.0 Investments – Direct Interest Rate Holdings and Risk Charge.\n\nInformation on this form will be used by APRA to obtain an investment profile of the reporting insurer and to calculate in part the Investment Risk Capital Charge. Specific information in these forms will also be used by the Australian Bureau of Statistics (ABS) for statistical purposes.\n\nFor the purposes of completing the respective investment forms, only include investments that are included in the aggregate balance disclosed for the asset item 3 titled ‘Investments (related to GRF 140 series of forms)’ on GRF 300.0 Statement of Financial Position. Do not include in these investment forms asset items reported in any of the other asset categories in GRF 300.0 Statement of Financial Position (e.g. ‘Other investments’). Otherwise the asset items will be subject to two investment risk charges, one in GRF 300.0 Statement of Financial Position and another in the respective investment forms.\n\nInvestment risk charge\n\nThe investment risk charge applicable for an insurer’s (and reinsurer’s) on-balance sheet Investment/Asset exposures is calculated in accordance with Prudential Standard GPS 114 Capital Adequacy: Investment Risk Capital Charge (GPS 114). The form categorises assets into investment capital factor groupings to calculate the applicable investment risk capital charge for each asset category. The aggregate investment risk charge calculated is included in the calculation of the insurer’s minimum capital requirement.\n\nThe fair value of each applicable asset/asset category is required to be disclosed into the appropriate cell for each column titled ‘Fair Value’.\n\nValues in column titled ‘Investment Risk Charge’ are calculated based on the fair value of assets disclosed.","sortOrder":13},{"sectionNumber":"Audit requirements","sectionType":"subdivision","heading":"Audit requirements","content":"#### Audit requirements\n\nThe form relating to authorised insurance entities and reinsurance entities is required to be subject to audit review and testing.\n\nThe scope and nature of audit testing required is outlined in the applicable Auditing and Assurance Standards Board Guidance Statement issued by the Auditing and Assurance Standards Board.\n\nInformation provided in the form in respect of a financial year of an insurer forms part of the insurer’s ‘yearly statutory accounts’ within the meaning of section 3 of the Insurance Act 1973 (the Act). This means that:\n\n-   the completed form for the financial year must be audited by the Appointed Auditor of the insurer (see paragraph 49J(1)(a) of the Act);\n\n-   the insurer must make such arrangements as to enable the auditor to do this (subsection 49J(2));\n-   the auditor must give the insurer a certificate relating to the completed form (and other completed forms that are part of the insurer’s yearly statutory accounts), which must contain statements of the auditor’s opinion on the matters required by the prudential standards to be dealt with in the certificate (subsection 49J(3));\n-   the certificate must be lodged with APRA as provided for in the prudential standards (paragraph 49L(1)(a)), namely by the due date for lodging the form in respect of the financial year for the insurer.\n\nReporting entity\n\nThis form is to be completed by:\n\n1.  Branch insurers of a foreign parent insurer (reference to licensed insurer in the form means total operations of the branch, excluding the parent operations);\n2.  Authorised insurance entities, including mutual entities (reference to licensed insurer in the form means total operations of the licensed entity); and\n3.  Authorised reinsurance entities (reference to licensed insurer in the form means total operations of the licensed entity).","sortOrder":14},{"sectionNumber":"Definitions","sectionType":"subdivision","heading":"Definitions","content":"#### Definitions\n\nDefinitions for data reporting items required by this form have been provided where possible in the instructions under the section headed ‘Specific Instructions’.\n\nUnit of measurement\n\nGRF 140.0 Investments – Direct Interest Rate Holdings and Risk Charge is to be prepared in thousands of Australian dollars (AUD). Amounts denominated in foreign currency are to be converted to AUD in accordance with AASB 121 ‘The Effects of Changes in Foreign Exchange Rates’ (AASB 121).\n\nThe general requirements of AASB 121 for translation are:\n\n1.  Foreign currency monetary items[\\[2\\]](#_ftn2) outstanding at the reporting date must be translated at the spot rate[\\[3\\]](#_ftn3) at the reporting date.\n\n4. Foreign currency non-monetary items[\\[4\\]](#_ftn4) that are measured at historical cost in a foreign currency must be translated using the exchange rate at the date of the transaction.\n\n5. Foreign currency non-monetary items that are measured at fair value will be translated at the exchange rate at the date when fair value was determined.\n\nTransactions arising under foreign currency derivative contracts at the reporting date must be prepared in accordance with AASB 139 ‘Financial Instruments: Recognition and Measurement’ (AASB 139). However, those foreign currency derivatives that are not within the scope of AASB 139 ‘Financial Instruments: Recognition and Measurement’ (e.g. some foreign currency derivatives that are embedded in other contracts) remain within the scope of AASB 121.\n\nFor APRA purposes equity items must be translated using the foreign currency exchange rate at the date of investment or acquisition. Post acquisition changes in equity are required to be translated on the date of the movement.\n\nAs foreign currency derivatives are measured at fair value, the currency derivative contracts are translated at the spot rate at the reporting date.\n\nExchange differences should be recognised in profit and loss in the period which they arise. For foreign currency derivatives, the exchange differences would be recognised immediately in profit and loss if the hedging instrument is a fair value hedge. For derivatives used in a cash flow hedge, the exchange differences should be recognised directly in equity.\n\nThe ineffective portion of the exchange differences in all hedges would be recognised in profit and loss.\n\n6. Translation of financial reports of foreign operations.\n\nA foreign operation is defined in AASB 121 as meaning an entity that is a subsidiary, associate, joint venture or branch of a reporting entity, the activities of which are based or conducted in a country or currency other than those of the reporting entity.\n\n-   Exchange differences relating to foreign currency monetary items that form part of the net investment of an entity in a foreign operation, must be recognised as a separate component of equity.\n\nTranslation of financial reports should otherwise follow the requirements in AASB 121.\n\nReporting period\n\nInsurers are required to report the information in the reporting form on a quarterly and annual basis.\n\n-   The quarterly information is to be completed in respect of each quarter based on the financial year of the insurer, not the calendar year.\n-   The annual information is to be completed in respect of the financial year of the insurer.\n-   The financial information requested in this form is to be reported as at the last day of the reporting period on a financial year to date basis of the insurer.","sortOrder":15},{"sectionNumber":"Reporting lag","sectionType":"part","heading":"Reporting lag","content":"## Reporting lag\n\nThis form must be lodged for each of the reporting units within the number of business days after the end of the quarter as set out in Reporting Standard GRS 140.0 Investments – Direct Interest Rate Holdings and Risk Charge.\n\nBasis of preparation\n\nIn completing this form unless otherwise specifically stated below, it is recommended that general insurers follow the Australian accounting standards where possible, regarding the interpretation, recognition and measurement of investments notably AASB 1023 ‘General Insurance Contracts’ (AASB 1023).\n\nThe aggregate value of investments disclosed in the forms listed below must agree to the amount reported in items 3 of GRF 300.0 Statement of Financial Position.\n\n-   GRF 140.0 Investments – Direct Interest Rate Holdings and Risk Charge\n\n-   GRF 140.1 Investments – Direct Equity Holdings and Risk Charge\n\n-   GRF 140.2 Investments – Direct Property Holdings and Risk Charge\n-   GRF 140.3 Investments – Loans and Advances and Risk Charge\n-   GRF 140.4 Investments – Indirectly Held by the Insurer and Risk Charge\n\nAPRA applies the fair value approach to measurement of assets backing general insurance liabilities for its regulatory reporting which is consistent with the classification basis in AASB 1023 and the present value measurement approach for general insurance liabilities. The value of the investments reported in this form (and all the above forms) should be equal to the value of investments deemed to be assets backing insurance liabilities for statutory reporting purposes.\n\nInvestments reported in this form (and other forms listed above) that back the entity's general insurance liabilities must be measured at fair value. These investments must not be valued at cost. Fair value has the same meaning as defined in AASB 139, that is, the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm's-length transaction, and is determined as follows:\n\n1.  The quoted market price (i.e. bid or ask price) in an active and liquid market; or\n2.  When there is infrequent activity in a market, and the market is not well established, small volumes are traded relative to the asset or liability to be valued, or a quoted market price is not available – a realistic estimate of fair value on the basis of the results of a valuation technique that makes maximum use of market inputs, and relies as little as possible on entity-specific inputs.[\\[6\\]](#_ftn5)\n\nDerivative instruments that are used to hedge investments (other than for listed equity investments) that are included in the above forms are not to be reported in these forms, they are to be reported in GRF 160.0 Derivatives Activity and Risk Charge.\n\nFor investments reported in this form, changes in the values at which such investments are measured must be recognised as revenues (or losses) in GRF 310.0 Statement of Financial Performance and GRF 310.3 Investment and Operating Income and Expense in the reporting period in which the changes occur.\n\nAccounting Standard AASB 116 ‘Property, Plant and Equipment’ does not apply to such investments.\n\nInvestment Capital Factor %\n\nThis column for each form discloses the appropriate investment capital factor for the asset type in accordance with GPS 114.\n\nInvestment Risk Charge\n\nThis column for each form will calculate the appropriate investment risk charge in accordance with GPS 114.\n\nHolding of Units in Unit Trusts\n\nWhere the insurer’s investments are represented by holdings of units in unlisted or listed managed investment vehicles/entities, the following reporting is required:\n\n-   Units are to be reported in GRF 140.4 Investments – Indirectly Held by the Insurer and Risk Charge. This form requires amongst other things, disclosure of the value of the unit holding according to the nature of the underlying market exposure (i.e. interest rate related, equity related, property related). If the units are held in a diversified or balanced trust, the investment holding is to be disclosed in accordance with the fund’s advised asset allocation; and\n\n-   Holding must be disclosed as unlisted or listed units.\n\nException\n\nIf the units are held in a related entity of the insurer (i.e. a dedicated investment management entity for the Insurer), the Insurer may apply to APRA to have such entities approved as part of its Extended Licensed Entity (ELE). This is set out in GPS 114. Once approved by APRA this will allow the insurer to look through the legal structures involved and consolidate the balance sheet of the related entity with its own for the purposes of determining the Investment Risk Capital Charge. If the insurer has an approved ELE, the underlying individual securities/investments supporting the units held by the licensed insurer are to be disclosed in the investment returns.\n\nSecurities Purchased (Sold) under agreements to resell (repurchase) and stock lending/borrowing","sortOrder":16},{"sectionNumber":"Treatment is to be consistent with AASB ","sectionType":"part","heading":"Treatment is to be consistent with AASB 139.","content":"# Treatment is to be consistent with AASB 139.\n\nWhere the transferee of the security effectively receives a lender’s rate of return, or a return that does not correlate with ownership of the securities (i.e. the risks and rewards of ownership of the underlying securities are not effectively transferred), these transactions are to be accounted for as collateralised borrowing or lending activities.\n\nUnder this method of accounting, for transactions that satisfy the above, do not adjust (i.e. increase or decrease) the physical investment security holdings/portfolios (interest rate and equity investments) for the securities that are subject to these agreements. For the required prudential treatment for securities meeting the above conditions, refer to treatment as noted in the instructions for GRF 300.0 Statement of Financial Position.\n\nSecurities Transacted not Settled (i.e. trade date accounting)\n\nFor the purpose of the APRA forms, include market related securities that are recorded on a trade date basis and transacted in accordance with accepted financial market settlements periods. Such securities are to be included in the respective investments forms. These do not constitute forward asset purchases for the purposes of GRF 130.0 Off Balance Sheet Business – Credit Substitutes Provided and Risk Charge.\n\nSubordinated Debt\n\nSubordinated debt has the same meaning as in GPS 114. Subordinated debt is any debt instrument issued by a company (whether Australian or foreign) that constitutes debt subordination within the meaning of subsection 563C(2) of the Corporations Act 2001 but with the references in the subjection to “Company” to be read as including foreign corporations. This definition does not apply to debt instruments issued by an SPV set up for the purpose of securitising an asset or a pool of assets. Any debt instruments issued by such an SPV are to be treated as ordinary debt instruments with the investment risk capital charge applied according to the issue-specific counterparty rating.\n\nInvestments in subordinated debt instruments are to be reported either in GRF 140.1 Investments – Direct Equity holdings and Risk Charges or GRF 140.4 Investments – Indirectly Held by the Insurer and Risk Charge. Under GPS 114 the investment risk charge of subordinated debt instruments are lower compared to other equities instruments.\n\nRelated parties\n\nWhere this term is used or referenced in these forms, related parties is to be interpreted consistently with its definition and meaning as contained in AASB 124 ‘Related Party Disclosures’ (AASB 124).\n\nIn accordance with AASB 124, related party means a party that directly or indirectly through one or more intermediaries:\n\n(a) controls, is controlled by or is under common control with, the entity (this includes parents, subsidiaries and fellow subsidiaries);\n\n(b) has significant influence over the entity or has joint control over the entity; or\n\n(c) is an associate (as defined in AASB 128 ‘Investments in Associates’) of the entity; or\n\n(d) is a joint venture in which the entity is a venturer (see AASB 131 ‘Interests in Joint Ventures’); or\n\n(e) is a member of the key management personnel of the entity or its parent; or\n\n(f) is a close member of the family of any individual referred to in (a), (b) or (e); or\n\n(g) is an entity that its controlled, jointly controlled or significantly influenced by, or for which significant voting power in such entity resides with, directly or indirectly, any individual referred to in (e) or in (f); or\n\n(h) is a post-employment benefit plan for the benefit of the employees of the entity, or of any entity that is a related party of the entity.","sortOrder":17},{"sectionNumber":"Specific instructions","sectionType":"part","heading":"Specific instructions","content":"# Specific instructions\n\nScope\n\nDo not include loans and advances in this section. These are to be included in the form headed “Loans and Advances”.\n\nSpecific disclosure of deposit and security holdings classified into short term and long term securities is required by the ABS.\n\nDefinitions/interpretation for specific items\n\n1.  Deposits or placements with (ie money market type deposits / placements)\n\nThese primarily include deposits or placements that are of a money market type basis. These may be available on demand (11am accounts, money market or 24-hour money), and must be held as part of the Insurer’s investments portfolio.\n\nDo not include any deposits at call that are used by the Insurer for daily liquidity/operations (i.e. funds that are not specifically included as investment funds). These are to be disclosed as Money at short call in Item 1.2 on GRF 300.0 Statement of Financial Position.\n\nThis information is primarily required by the ABS.\n\n1.1 Authorised Deposit Taking Institutions (ADIs)\n\nIncludes funds lodged with Banks, Credit Unions, Building Societies and other ADIs as defined below.\n\n1.2 Other\n\nInclude placements and money market accounts held with entities other than those included in the above classification.\n\n2. Short term securities\n\nThe term short term refers to holding of securities with an original term to maturity (as opposed to residual term to maturity), that is equal to or less than 1 year.\n\nInclude:\n\n-   Bills of Exchange, bank-accepted and other;\n\n-   Certificates of deposits;\n\n-   Commercial paper;\n\n-   Other one name paper; and\n\n-   Securities lent or sold under repurchase agreements.\n\nBills of Exchange\n\n2.1 Bank Accepted\n\nReport bills of exchange that are accepted by a Bank.\n\n2.2 Other\n\nReport all other bills of exchange other than bank accepted bills.\n\nCommercial paper and promissory notes issued by:\n\nThe following provides guidelines to facilitate in the disclosure for this return of the counterparty/issuer of interest rate securities held by the insurer. The following specific disclosures are required by the ABS.\n\n2.3 Banks and ADIs\n\nBanks refers to ADIs, in relation to which an authority under subsection 9(3) is in force and which hold a consent under section 66 of the Banking Act 1959 (Banking Act) to use the word bank.\n\nInclude:\n\n-   Development banks; and\n\n-   Foreign banks licensed to operate in Australia under the Banking Act.\n\nExclude:\n\n-   Merchant banks (record as ‘Other’).\n\nADIs refer to corporations, which have an authority under subsection 9(3) in force, but which do not hold consent under section 66 under the Banking Act to use the word bank. These include Building Societies and Credit Unions.\n\nExclude:\n\nHolding of securities issued by Finance Corporations, these are included under Registered Financial Corporations.\n\n2.4 General insurance corporations\n\nIncludes corporations that provide general insurance (e.g. fire, accident, employer liability, public liability, houseowner/householders, marine).\n\n2.5 Securitisers\n\nThese are financial vehicles that issue short and/or long-term securities (called asset-backed securities) using specifically selected assets (e.g. mortgages, receivables). They provide backing (collateral) for the securities and generate the payment streams necessary to fulfil interest and principal requirements for investors. Include holdings of the following:\n\n-   Mortgage backed securities; and\n\n-   Other asset backed securities (other than mortgage backed).\n\n2.6 Private trading corporations\n\nInclude intra group financiers and retailers registered under the Financial Sector (Collection of Data) Act 2001 (Collection of Data Act) and parent companies with significant holdings of shares in private trading companies.\n\n2.7 Registered Financial corporations\n\nRegistered Financial Corporations refers to corporations registered under the Collection of Data Act that are classified as Categories D or Other. A list of corporations registered under the Collection of Data Act and their classification are available on the APRA website.\n\nInclude:\n\n-   Money market corporations (D); and\n\n-   Other (formerly categories E, F and G).\n\nExclude:\n\n-   Intra group financiers and retailers registered under the Collection of Data Act; and\n-   Cash management trusts (Note: for the purpose of applying the required investment capital charge, cash management trusts are to be reported in GRF 140.4 Investments – Indirectly Held by Insurer and Risk Charge).\n\n2.8 Australian Commonwealth Government Corporations\n\nTrading enterprises owned by the Commonwealth are those businesses, which are owned and controlled by the Australian Commonwealth Government.\n\nInclude:\n\nAll resident trading enterprises owned 50% or more by the Commonwealth Government or controlled by the Commonwealth Government through legislation, decree or regulation\n\n2.9 Australian Commonwealth Government\n\nInclude:\n\n-   Treasury notes\n\nExclude:\n\n-   Treasury bonds (include these in long term securities);\n\n-   Government trading enterprises (record as Australian Commonwealth Government corporations);\n\n-   Departments of the ACT and Northern Territory Governments (record as Other Australian Government (State, territory and local government); and\n\n-   Reserve Bank of Australia and Commonwealth Government financial institutions such as AIDC and EFIC (record as Australian Commonwealth Government Corporations).\n\n2.10 Other Australian Government (state, territory and local government)\n\nState, territory and local governments provide non-market goods and services, principally financed by taxes, to regulate economic activity, maintain law and order and to redistribute income and wealth by means of transfers and hence provided free of charge or at nominal prices well below the cost of production.\n\n2.11 National government of a foreign country:\n\n(i) where the security has a Grade 1 rating or the country's long term foreign currency rating is Grade 1.\n\nThis is required by APRA to enable the calculation of the required investment risk charge.\n\nRefer to GPS 114 for further information on classification of rating grades.\n\n(ii) Other\n\nDisclose all other investments in securities issued by the national government of a foreign country which are not reported in (i) above.\n\n2.12 Other\n\nInclude securities issued by counterparties other than those specifically listed on the form.\n\n3. Long term debt securities\n\nThe term long term refers to holding of securities which have an original term to maturity (as opposed to residual term to maturity), that is greater than 1 year.\n\nInclude:\n\n-   Commercial paper;\n\n-   Other one name paper; and\n\n-   Securities lent or sold under repurchase agreements.\n\nLong term debt Securities issued by:\n\nThe following provides guidelines to facilitate in the disclosure for this return of the counterparty/issuer of interest rate securities held by the insurer. The following specific disclosures are required by the ABS.\n\n3.1 Banks and Authorised Deposit Taking Institutions (ADIs)\n\nBanks refers to ADIs, in relation to which an authority under subsection 9(3) is in force and which hold consent under section 66 of the Banking Act to use the word bank.\n\nInclude:\n\n-   Development banks; and\n\n-   Foreign banks licensed to operate in Australia under the Banking Act.\n\nExclude:\n\n-   Merchant banks (record as ‘Other’).\n\nADIs refer to corporations, which have an authority under subsection 9(3) in force, but which do not hold consent under section 66 under the Banking Act to use the word bank. These include Building Societies and Credit unions.\n\nExclude:\n\nHolding of securities issued by Finance Corporations, these are included under Registered Financial Corporations.\n\n3.2 General insurance corporations\n\nIncludes corporations that provide general insurance (e.g. fire, accident, employer liability, public liability, household, marine).\n\n3.3 Securitisers\n\nThese are financial vehicles that issue short and/or long-term securities (called asset-backed securities) using specifically selected assets (e.g. mortgages, receivables). They provide backing (collateral) for the securities and generate the payment streams necessary to fulfil interest and principal requirements for investors. Include holdings of the following:\n\n-   Mortgage backed securities; and\n-   Other asset backed securities (other than mortgage backed).\n\n3.4 Private trading corporations\n\nInclude Intra group financiers and retailers registered under the Collection of Data Act and parent companies with significant holdings of shares in private trading companies.\n\n3.5 Registered Financial corporations\n\nRegistered Financial Corporations refers to corporations registered under the Collection of Data Act that are classified as Categories D or Other. A list of corporations registered under the Collection of Data Act and their classification are available on the APRA website.\n\nInclude:\n\n-   Money market corporations (D); and\n\n-   Other (formerly categories E, F and G).\n\nExclude:\n\n-   Intra group financiers and retailers registered under Collection of Data Act.\n-   Cash management trusts (Note: for the purpose of applying the required investment capital charge, cash management trusts are to be reported in the ‘Assets Indirectly Held’ investment form).\n\n3.6 Australian Commonwealth Government corporations\n\nTrading enterprises owned by the Commonwealth are those businesses, which are owned and controlled by the Australian Commonwealth Government.\n\nInclude:\n\nAll resident trading enterprises owned 50% or more by the Commonwealth Government or controlled by the Commonwealth Government through legislation, decree or regulation.\n\n3.7 Australian Commonwealth Government\n\nExclude:\n\n-   Treasury Notes (record as short term securities);\n\n-   Government trading enterprises (record as Australian Commonwealth Government corporations);\n\n-   Departments of the ACT and Northern Territory Governments (record as Other Australian Government (State, territory and local government); and\n\n-   Reserve Bank of Australia and Commonwealth Government financial institutions such as AIDC and EFIC (record as Australian Commonwealth Government Corporations).\n\n3.8 Other Australian Government (state, territory and local government)\n\nState, territory and local general government provide non-market goods and services, principally financed by taxes, to regulate economic activity, maintain law and order and to redistribute income and wealth by means of transfers and hence goods and services are provided free of charge or at nominal prices well below the cost of production.\n\n3.9 National government of a foreign country:\n\n(i) where the security has a Grade 1 rating or the country’s long term foreign currency rating is Grade 1\n\nDisclose the investments in securities issued by the national government of a foreign country with a rating of Grade 1.\n\nRefer to GPS 114 for further information on classification of rating grades.\n\n(ii) Other\n\nDisclose all other investments in securities issued by the national government of a foreign country which are not reported in (i) above.\n\n3.10 Other\n\nInclude securities issued by counterparties other than those specifically listed on the form.\n\nTotal direct interest rate investments\n\nThis item is calculated automatically by the form. It represents the sum of the items 1.1 to 3.10 as listed above.\n\nof which: Investments denominated in a currency other than the Australian currency\n\nDisclose the aggregate balance of interest rate investments that are denominated in a currency other than the Australian currency.\n\n4. Total direct interest rate investments classified into the following (excluding government issued securities that are risk weighted above):\n\n4.1 Debt obligations with a Rating Grade of 1 that matures or is redeemable:\n\n-   in less than 1 year\n\n-   in 1 year or more\n\nRefer to GPS 114 for further information on classification of rating grades.\n\n4.2 Debt obligations with a Rating Grade of 2 that matures or is redeemable:\n\n-   in less than 1 year\n\n-   in 1 year or more\n\nRefer to GPS 114 for further information on classification of rating grades.\n\n4.3 Debt obligations with a Rating Grade of 3\n\nRefer to GPS 114 for further information on classification of rating grades.\n\n4.4 Debt obligations with a Rating Grade of 4 or are unrated\n\nRefer to GPS 114 for further information on classification of rating grades.\n\n4.5 Debt obligations with a Rating Grade of 5\n\nRefer to GPS 114 for further information on classification of rating grades.\n\n5. Total direct Interest rate investments which represent the following:\n\n5.1 Policyholders’ funds\n\nPolicyholders funds is also referred to as ‘technical reserves/funds’. Use of the term does not imply ownership of these funds by policyholders, like under life insurance. The term is used particularly in establishing the investment management mandates to reflect the different cashflow/risk and return requirements from that of shareholders’ funds. Disclose the aggregate balance of direct interest rate investments that are designated by the Insurer as representing policyholders’ funds (where this is done by the insurer).\n\n5.2 Shareholders’ Funds\n\nWhere the insurer has established the investment management mandates along these terms to reflect the different cashflow/risk and return requirements of shareholders’ funds from policyholders’ funds/technical reserves, disclose the aggregate balance of direct interest rate investments designated as representing shareholders’ funds (where this is done by the insurer).\n\n6. Total direct Interest rate investments classified into the following:\n\nDeposits/placements with, or debt securities issued by (do not include loans and advances here):\n\n6.1 The reporting insurer (i.e. holdings in own debt securities)\n\nOf the total direct interest rate investment portfolio of the insurer that is reported as required by this form, disclose holdings of debt securities issued by the licensed insurer that are held by the licensed insurer.\n\n6.2 Parent entity\n\nOf the total direct interest rate investment portfolio of the insurer that is reported as required by this form, disclose any deposits/placements or holdings of debt securities that are issued by the parent entity of the licensed insurer.\n\n6.2.1. Controlled entities/Controlled entities of the parent entity\n\nFor branches, the line item 6.2.1 ‘Controlled entities/Controlled entities of the parent entity’ is to be interpreted as amounts in relation to ‘Controlled entities of the parent entity’, and for licensed insurance entities amounts are in relation to ‘Controlled entities’ of the reporting insurer.\n\nOf the total direct interest rate investment portfolio of the insurer that is reported as required by this form, disclose any deposits/placements or holdings of debt securities that are issued by controlled entities of the licensed reporting insurer.\n\n6.3 Associates/Joint Ventures\n\nOf the total direct interest rate investment portfolio of the insurer that is reported as required by this form, disclose any deposits/placements or holdings of debt securities that are issued by Associates or Joint Ventures of the licensed insurer. Associates and Joint Ventures are defined in accordance with AASB 131 ‘Interests in Joint Ventures’ and AASB 128 ‘Investment in Associates’.\n\n6.4 Other related parties\n\nOf the total direct interest rate investment portfolio of the insurer that is reported as required by this form, disclose any deposits/placements or holdings of debt securities held by the licensed insurer that are issued by any other related entity of the licensed insurer that is not specifically identified above.\n\n7. Total investment risk charge\n\nThe total investment risk charge for direct interest rate holdings is automatically calculated.","sortOrder":18},{"sectionNumber":"1.4","sectionType":"subdivision","heading":"Private trading corporations","content":"#### 1.4 Private trading corporations\n\nPrivate trading corporations are those owned by the private sector.\n\nInclude:\n\n-   All Australian resident private corporate trading enterprises, and non-profit institutions; and\n-   Intra group financiers and retailers registered under the Financial Sector (Collection of Data) Act 2001 (Collection of Data Act) and parent companies with significant holdings of shares in private trading companies.\n\nExclude:\n\n-   Non-resident enterprises\n\n1.5 Commonwealth government corporations\n\nTrading enterprises owned by the Commonwealth are those businesses, which are owned and controlled by the Australian Commonwealth Government.\n\nInclude:\n\nAll resident trading enterprises owned 50% or more by the Commonwealth Government or controlled by the Commonwealth Government through legislation, decree or regulation.\n\n1.6 Registered Financial Corporations\n\nRegistered Financial Corporations refers to corporations registered under the Collection of Data Act that are classified as Categories D or Other. A list of corporations registered under the Collection of Data Act and their classification are available on the APRA website.\n\nInclude:\n\n-   Money market corporations (D); and\n-   Other (formerly categories E, F and G).\n\nExclude:\n\n-   Intra group financiers and retailers registered under the Collection of Data Act.\n-   Cash management trusts (Note: but for the purposes of applying the required investment capital charge, cash management trusts are to be reported in GRF 140.4 Investments – Indirectly Held by Insurer and Risk Charge).","sortOrder":24},{"sectionNumber":"1.7","sectionType":"subdivision","heading":"Other","content":"#### 1.7 Other\n\nReport equity securities that are not specifically included in the categories listed above.\n\n2. Other Equity – Direct Holdings\n\nThe information required to be reported under this section is different to the information required to be disclosed for item 5 ‘Total unlisted equities - Direct holdings’ of this form. This section is mainly collected for the purposes of Australian Bureau of Statistics (ABS) and as such the definitions of listed and unlisted equities are slightly different for ABS purposes.\n\nFor ABS purposes, listed equities includes only those equities listed on the Australian ASX and excludes certain stocks including equity investments in non-Australian resident companies listed on the ASX.\n\nThe information required under item 5 ‘Total unlisted equities - Direct holdings’ is for the purposes of calculating the investment risk charge on equity investments and as such the guidance on what is considered to be listed equities for the purposes of the prudential standards is outlined under item 5 of this form.\n\nReport equity securities at fair value.\n\nInclude:\n\n-   Unlisted preference shares;\n-   Equity in unlisted Australian resident companies;\n-   Listed equity securities in non-Australian resident companies listed on the ASX;\n-   Equity in unlisted non-Australian resident companies;\n-   Equity securities of non-Australian resident companies listed on overseas stock exchanges; and\n-   Securities lent or sold under repurchase agreements.\n\nExclude:\n\n-   Rights, options and warrants, include these in GRF 160.0 Derivatives Activity and Risk Charge.\n-   Securities borrowed or purchased under resale agreements.\n-   Units in unlisted unit trusts. Report in GRF 140.4 Investments – Indirectly Held by Insurer and Risk Charge.\n    1.  Banks and ADIs\n\nBanks refers to ADIs, in relation to which an authority under subsection 9(3) is in force and which holds consent under section 66 of the Banking Act to use the word bank.\n\nInclude:\n\n-   Development banks; and\n-   Foreign banks licensed to operate in Australia under the Banking Act.\n\nExclude:\n\n-   Merchant banks (record as ‘Other’).\n\nADIs refer to corporations, which have an authority under subsection 9(3) in force, but which do not hold consent under section 66 under the Banking Act to use the word bank. These include Building Societies and Credit Unions.\n\nExclude:\n\nHolding of securities issued by Finance Corporations, these are included under Registered Financial Corporations.\n\n2.2 General insurance corporations\n\nIncludes corporations that provide general insurance (e.g. fire, accident, employer liability, public liability, householders, marine).\n\n2.3 Private trading corporations\n\nPrivate trading corporations are those owned by the private sector.\n\nInclude:\n\n-   All Australian resident private corporate trading enterprises, and non-profit institutions; and\n-   Intra group financiers and retailers registered under the Collection of Data Act and parent companies with significant holdings of shares in private trading companies.\n\nExclude:\n\n-   Non-resident enterprises\n\n2.4 Commonwealth government corporations\n\nTrading enterprises owned by the Commonwealth are those businesses, which are owned and controlled by the Australian Commonwealth Government.\n\nInclude:\n\nAll resident trading enterprises owned 50% or more by the Commonwealth Government or controlled by the Commonwealth Government through legislation, decree or regulation.\n\n2.5 Registered Financial Corporations\n\nRegistered Financial Corporations refers to corporations registered under the Collection of Data Act that are classified as Categories D or Other. A list of corporations registered under the Collection of Data Act and their classification are available on the APRA Internet.\n\nInclude:\n\n-   Money market corporations (D); and\n-   Other (formerly categories E, F and G).\n\nExclude:\n\n-   Intra group financiers and retailers registered under the Collection of Data Act; and\n-   Cash management trusts (Note: for the purposes of applying the required investment capital charge, cash management trusts are to be reported in GRF 140.4 Investments – Indirectly Held by Insurer and Risk Charge).\n\n2.6 Other\n\nReport equity securities that are not specifically included in the categories listed above.\n\nThe following disclosures are required to be able to calculate the appropriate investment risk charge for the purposes of calculating the minimum capital requirement.\n\nTotal equity securities\n\nThis is automatically calculated by the form and represents the sum of fair value of all equity investments of the insurer.\n\n3. Subordinated Debt – Direct Holdings\n\nSubordinated debt has the same meaning as in GPS 114. Subordinated debt is any debt instrument issued by a company (whether Australian or foreign) that constitutes debt subordination within the meaning of subsection 563C(2) of the Corporations Act 2001 but with the references in the subsection to “Company” to be read as including foreign corporations. This definition does not apply to debt instruments issued by an SPV set up for the purpose of securitising an asset or a pool of assets. Any debt instruments issued by such an SPV are to be treated as ordinary debt instruments with the investment risk capital charge applied according to the issue-specific counterparty rating.\n\nFor the purposes of calculating the investment risk charge, under GPS 114 subordinated debt instruments are treated differently to other equities instruments. Report the fair value of subordinated debt securities that are held directly by the insurer in this section. Where subordinated debt instruments are indirectly held these are to be reported in GRF 140.4 Investments – Indirectly Held by Insurer and Risk Charge.\n\n3.1 Listed subordinated debt\n\nReport the amount of subordinated debt listed on a recognised exchange.\n\n3.2 Unlisted subordinated debt\n\nReport the amount of unlisted subordinated debt, including any amounts of subordinated debt not listed on a recognised exchange.\n\n4. Total Listed Equities– Direct Holdings\n\nThe information required to be reported under item 1 ‘Australian listed equity - Direct holdings’ of this form is different to the information required to be disclosed under this section. Item 1 ‘Australian listed equity - Direct holdings’ is mainly collected for the purposes of Australian Bureau of Statistics (ABS) and as such the definitions of listed and unlisted equities are slightly different for ABS purposes.\n\nFor ABS purposes, listed equities includes only those equities listed on the Australian Stock Exchange (ASX) and excludes certain stocks including equity investments in non-Australian resident companies listed on the ASX.\n\nThe information required under this section is for the purposes of calculating the investment risk charge on equity investments and as such the guidance on what is considered to be listed equities for the purposes of the prudential standards is outlined below.\n\nReport the fair value of equity securities that is listed on a recognised exchange and held directly by the insurer.\n\nListed equities include:\n\n-   Preference shares;\n-   Securities (stock) lent or sold under repurchase agreements.\n\nExclude:\n\n-   Rights, options and warrants over listed equities include these as Financial Derivatives on GRF 160.0 Derivative Activity and Risk Charge but taken into account in calculating the derivative position.\n-   Securities borrowed or purchased under resale agreements.\n-   Subordinated Debt instruments. Such instruments are to be reported under item 3 ‘Subordinated debt - Direct holdings’ in this form.\n-   Units in listed unit trusts. Where the insurer has elected not to apply the look-through basis for the unit trust then report the amount in GRF 140.4 Investments – Indirectly Held by Insurer and Risk Charge. However, where the insurer elects to apply the look-through basis for the unit trust, then the amount is to be reported in item 4.1 ‘Total listed equities - Indirectly held - 'Look-through basis'’ of this form.\n\nNote: in this section do not include units in listed or unlisted trusts (e.g. property trusts) as the investment capital charge calculated here is for equity investment securities only. For the purposes of determining the appropriate investment capital charge, units in trusts are to be included in GRF 140.4 Investments – Indirectly Held by Insurer and Risk Charge.\n\n4.1 Total listed equities – Indirectly Held – ‘Look-through’ basis\n\nReport the amount of listed equities that are indirectly held through a listed trust (e.g. listed property trust) and where the insurer has elected to apply the ‘look-through’ basis. This amount should correspond with item 7.8 ‘Listed Equity’ of GRF 140.4 Investments – Indirectly Held by Insurer and Risk Charge.\n\n4.2 Derivative Position\n\nInsurers are required to calculate the derivative position over listed equities outside the reporting forms and enter the total exposure to listed equities via derivatives at this item. A short position is to be recorded as a positive amount and a long position as a negative amount. The calculation of the derivative position is required to be submitted to APRA as supplementary information for each reporting period in a format developed by the insurer.\n\n4.3 Absolute Value of the Net Exposures to Listed Equities (Equity Market Risk Component)\n\nWhere an insurer holds derivatives over listed equities, the Investment Risk Capital charge applicable to all holdings of listed equities under paragraph 10 of GPS 114 is to be replaced with the equity market risk component. The equity market risk component is equal to 16 per cent of the absolute value of the net exposure to listed equities and derivatives over listed equities (where the derivative exposure for options is calculated on a delta-weighted basis).\n\nThe form will automatically calculate the absolute value of the net exposures to listed equities (sum of (item 4 + item 4.1) less item 4.2).\n\n4.4 Absolute Value of Notional Equity Position of Derivatives (Basis Risk Component)\n\nThe equity basis risk component applies only to derivatives over listed equities for which there is a notional equity position that is negative, and this will be a specified percentage of the absolute value of the notional equity position. The percentage is the lesser of eight per cent and 16 x (100 per cent - overlap percentage). The overlap percentage measures the effectiveness of the hedge between the derivative and the physical portfolio it is being used to hedge and is equal to the sum of the lesser of A and B for each stock in that portfolio where:\n\n-   A is the stock’s proportionate weight in the portfolio; and\n-   B is the stock’s proportionate weight in the index on which the derivative is based.\n\nA derivative that is not being used to hedge a portfolio will have a basis risk percentage of eight per cent. A portfolio may consist of one or more stocks.\n\nRecord the amount of absolute value of the notional equity position of derivatives and the applicable investment risk capital charge (basis risk component).\n\nInsurers are required to calculate the absolute value of the notional equity position and the applicable investment risk capital factor (i.e. specified percentage) outside the reporting forms. The calculations are required to be submitted to APRA as supplementary information for each reporting period in a format developed by the insurer.\n\n5. Total Unlisted Equities – Direct Holdings\n\nReport the amount of equity securities at fair value that are not listed on a recognised exchange.\n\nInclude:\n\n-   Equity in unlisted companies, domestic and overseas; and\n-   Securities (stock) lent or sold under repurchase agreements, where the transaction does not effectively result in the transfer of the rights of ownership of the securities.\n\nExclude:\n\n-   Options and warrants, include these as Financial Derivatives on GRF 160.0 Derivatives Activity and Risk Charge;\n-   Securities borrowed or purchased under resale agreements, where the transaction does not effectively result in the transfer of the rights of ownership of the securities; and\n-   Subordinated Debt instruments. Such instruments are to be reported under item 3 ‘Subordinated debt - Direct holdings’ in this form.\n-   Do not include unlisted units in investment vehicles such as property trusts. Include these in GRF 140.4 Investments – Indirectly Held by Insurer and Risk Charge.\n    1.  of which: represents the value of goodwill (and other intangible assets) in relation to the acquisition of controlled entities (i.e. current value less value of identifiable net tangible assets)\n\nGoodwill and any other intangible assets are to be recognised as specified in paragraph 25 of Prudential Standard GPS 112 Capital Adequacy: Measurement of Capital.\n\nGoodwill will be deducted from Total Tier 1 capital in the line items provided on GRF 120.0 Determination of Capital Base for licensed insurers or on GRF 300.0 Statement of Financial Position for branch insurers.\n\nNote: in this section do not include units in listed or unlisted trusts (e.g. property trusts) as the investment capital charge calculated here is for equity investment securities only. For the purposes of determining the appropriate investment capital charge, cash management trusts are to be included in GRF 140.4 Investments – Indirectly Held by Insurer and Risk Charge.\n\nHowever for information purposes (i.e. not for the purposes of calculating the investment capital charge) please include listed property trusts in the equity sector analysis requested in section 8 of this form.\n\nTotal Direct Holdings\n\nThis is automatically calculated by the form and represents the sum of fair value of all equity investments held directly by the insurer and the sum of all direct holdings of subordinated debt. This will be the sum of item 3.1 ‘Listed subordinated debt’, item 3.2 ‘Unlisted subordinated debt’ item 4 ‘Total listed equities - Direct holdings’ and item 5 ‘Total unlisted equities - Direct holdings’.\n\n6. Total direct equity investments which represent:\n\n6.1 Policyholders’ funds\n\nPolicyholders’ funds is also referred to as ‘technical reserves/funds’. Use of the term does not imply ownership of these funds by policyholders, like under life insurance. The term is used particularly in establishing the investment management mandates to reflect the different cashflow/risk and return requirements from that of shareholders funds. Disclose the aggregate balance of direct interest rate investments that are designated by the insurer as representing policyholders’ funds (where this is done by the insurer).\n\n6.2 Shareholders’ funds\n\nWhere the insurer has established the investment management mandates along these terms to reflect the different cashflow/risk and return requirements of shareholders funds from policyholders funds/technical reserves, disclose the aggregate balance of direct interest rate investments designated as representing shareholders’ funds (where this is done by the insurer).\n\n7. Total Direct Equity Investments which are:\n\n7.1 Denominated in a currency other than the Australian currency\n\nDisclose the aggregate balance of equity investments that are denominated in a currency other than the Australian currency.\n\n7.2 Investments / holdings in:\n\n7.2.1 Own equity instruments\n\nOf the total direct equity investment portfolio of the Insurer that is reported as required by this form, disclose holdings of equity securities issued by the licensed insurer that are held by the licensed insurer.\n\n7.2.2 Parent entity\n\nOf the total direct equity investment portfolio of the insurer that is reported as required by this form, disclose equity securities that are issued by the parent entity of the licensed insurer.\n\n7.2.2.1 Controlled entities/Controlled entities of the parent entity\n\nFor branches, the line item 7.2.2.1 ‘Controlled entities/Controlled entities of the parent entity’ is to be interpreted as amounts in relation to ‘Controlled entities of the parent entity’, and for licensed insurance entities amounts are in relation to ‘Controlled entities’ of the reporting insurer.\n\nOf the total direct equity investment portfolio of the insurer that is reported as required by this form, disclose any equity securities that are issued by controlled entities of the licensed reporting insurer.\n\n7.2.3 Associates/Joint Ventures\n\nOf the total direct equity investment portfolio of the insurer that is reported as required by this form, disclose any equity securities that are issued by Associates or Joint Ventures of the licensed insurer. Associates and Joint Ventures are defined in accordance with AASB 131 ‘Interests in Joint Ventures’ and AASB 128 ‘Investments in Associates’.\n\n7.2.4 Other related parties\n\nOf the total direct equity investment portfolio of the insurer that is reported as required by this form, disclose any equity securities that are issued by any other related entity of the licensed insurer that is not specifically identified above. Refer to the definition of related parties above.\n\n8. Total direct equity investments which represent exposure to the following sectors\n\nNote: this section is not applicable to branch operations.\n\nList the direct equity exposure into the 11 global sector indices listed on the form. The indices are listed below with a short description of the types of industries contained in each index. The Global Industry Classification Standard (GICS) has been introduced by Standard & Poor’s and Morgan Stanley Capital International, with the objective of facilitating a uniform classification of companies around the world according to the type of business operations performed. The table on the following pages sets out the mapping of the ASX industry sectors to the Global Industry Classification Standard sectors.\n\nA brief list of businesses included in each GICS sector is as under:\n\n8.1 Energy\n\nEnergy equipment and services; oil & gas.\n\n8.2 Materials\n\nChemicals; construction materials; containers & packaging; metals & mining; paper & forest products.\n\n8.3 Industrials\n\nAerospace & defence; building products; construction & engineering; electrical equipment; industrial conglomerates; machinery; trading companies & distributors; commercial services & supplies; transportation.\n\n8.4 Consumer Discretionary\n\nAutomobiles & components; consumer durables & apparel; hotels; restaurants & leisure; media; retailing.\n\n8.5 Consumer Staples\n\nFood & drug retailing; food beverage & tobacco; household & personal products.\n\n8.6 Health Care\n\nHealth care equipment & services; pharmaceuticals & biotechnology.\n\n8.7 Financials Excluding Property Trusts\n\nFinancials include - Banks; diversified financials; insurance; real estate.\n\n8.8 Information Technology\n\nSoftware & services; technology hardware & equipment.\n\n8.9 Telecommunication Services\n\nDiversified telecommunication services; wireless telecommunication services.\n\n8.10 Utilities\n\nElectric utilities; gas utilities; multi-utilities; water utilities.\n\n8.11 Property Trusts\n\nInvestments in real estate via a trust structure.\n\n9. Total Investment Risk Charge\n\nThe total investment risk charge for direct equity holdings is calculated automatically.","sortOrder":25},{"sectionNumber":"Global Industry Classification Standard ","sectionType":"subdivision","heading":"Global Industry Classification Standard Sectors","content":"#### Global Industry Classification Standard Sectors","sortOrder":26},{"sectionNumber":"ASX Industry Sectors","sectionType":"part","heading":"ASX Industry Sectors","content":"## ASX Industry Sectors","sortOrder":27},{"sectionNumber":"Materials","sectionType":"division","heading":"Materials","content":"### Materials","sortOrder":28},{"sectionNumber":"Consumer Discretionary","sectionType":"part","heading":"Consumer Discretionary","content":"# Consumer Discretionary","sortOrder":29},{"sectionNumber":"Consumer","sectionType":"part","heading":"Consumer","content":"# Consumer\n\n# Staples","sortOrder":30},{"sectionNumber":"Staples","sectionType":"part","heading":"Staples","content":"# Consumer\n\n# Staples","sortOrder":31},{"sectionNumber":"Property Trusts","sectionType":"part","heading":"Property Trusts","content":"# Property Trusts","sortOrder":32},{"sectionNumber":"Financials Excluding Property Trusts","sectionType":"part","heading":"Financials Excluding Property Trusts","content":"# Financials Excluding Property Trusts","sortOrder":33},{"sectionNumber":"Inform.","sectionType":"part","heading":"Inform.","content":"# Inform.\n\n# Techn’gy","sortOrder":34},{"sectionNumber":"Techn’gy","sectionType":"part","heading":"Techn’gy","content":"# Inform.\n\n# Techn’gy","sortOrder":35},{"sectionNumber":"Telecomm-unication Services","sectionType":"part","heading":"Telecomm-unication Services","content":"# Telecomm-unication Services","sortOrder":36},{"sectionNumber":"Property Exposure","sectionType":"part","heading":"Property Exposure","content":"## Property Exposure\n\nFor prudential reporting purposes, a property exposure/investment exists where the investment (earnings and capital value) are dependent on the cash flows generated by the property through sale or rental income. Investments in property denominated in a currency other than Australian currency must also be reported on this form.\n\nProperty exposure that is to be reported on this form, only relates to exposure to direct holdings of property (direct investment/ownership in freehold or leasehold real estate).\n\nThe following property exposures are not to be to be reported on this form, but in GRF 140.4 Investments – Indirectly Held by the Insurer and Risk Charge:\n\n-   Holding in listed property trusts\n\nIndirect ownership of physical real estate. Units are listed and traded on the primary board of a recognised stock exchange.\n\n-   Holding in unlisted property trusts\n\nIndirect ownership of physical real estate. Units are not listed and traded on the primary board of a recognised stock exchange.\n\nProperty Classifications\n\nFor this return the insurer’s exposure/investment in direct property, is to be classified according to the following type of property market/categories:\n\n1.  Office;\n2.  Retail – e.g. includes retail shops, restaurants, shopping centres;\n3.  Tourism and leisure – e.g. includes hotels, motels and lodgings, recreational and sporting facilities, hotel developments, time-share developments and other hospitality industries;\n4.  Infrastructure; and\n5.  Other.\n\nFair Value\n\nFair value must be used for the measurement of the carrying value of the direct property investments/holdings.\n\nInvestment Capital Factor %\n\nThis column discloses the appropriate investment capital charge for the asset type in accordance with GPS 114.\n\nInvestment Risk Charge\n\nThis column will automatically calculate the appropriate investment risk charge in accordance with GPS 114.\n\nTotal Direct Property Investments\n\nThis is automatically calculated by the form and represents the sum of the fair values of all property investments of the insurer.\n\n1.  Total direct property investments, which represent:","sortOrder":43},{"sectionNumber":"1.1. Policyholders’ funds","sectionType":"subdivision","heading":"1.1. Policyholders’ funds","content":"#### 1.1. Policyholders’ funds\n\nPolicyholders’ funds is also referred to as ‘technical reserves/funds’. Use of the term does not imply ownership of these funds by policyholders, like under life insurance. The term is used particularly in establishing the investment management mandates to reflect the different cashflow/risk and return requirements from that of shareholders’ funds. Disclose the aggregate balance of direct property investments that are designated by the insurer as representing policyholders’ funds (where this is done by the insurer).\n\n1.2. Shareholders’ funds\n\nWhere the insurer has established the investment management mandates along these terms to reflect the different cashflow/risk and return requirements of shareholders’ funds from policyholders’ funds/technical reserves, disclose the aggregate balance of direct property investments designated as representing shareholders’ funds (where this is done by the insurer).\n\n    2. Total direct property investments classified into the following:\n\n3.1 Denominated in a currency other than the Australian currency\n\nDisclose the aggregate balance of property investments that are denominated in a currency other than the Australian currency.\n\n3.2 Investment / holdings of direct property purchased from:\n\n2.2.1. Parent entity\n\nOf the total direct property investments of the insurer that is reported in this form, disclose direct holdings of property purchased from the parent entity of the licensed insurer.\n\n2.2.1.1. Controlled entities / Controlled entities of the parent entity\n\nFor branches, the line item 2.2.1.1 ‘Controlled entities/Controlled entities of the parent entity’ is to be interpreted as amounts in relation to ‘Controlled entities of the parent entity’, and for licensed insurance entities amounts are in relation to ‘Controlled entities’ of the reporting insurer.\n\nOf the total direct property investments of the insurer that is reported in this form, disclose direct holdings of property purchased from controlled entities of the reporting insurer.\n\n2.2.2. Associates / Joint Ventures\n\nOf the total direct property investments of the insurer that is reported in this form, disclose direct holdings of property purchased from Associates or Joint Ventures of the reporting insurer. Associates and Joint Ventures are defined in accordance with AASB 131 ‘Interests in Joint Ventures’ and AASB 128 ‘Investments in Associates’.\n\n2.2.3. Other related parties\n\nOf the total direct property investments of the insurer that is reported in this form, disclose direct holdings of property purchased from any other related party of the reporting insurer, that are not specifically reported in other categories of related parties listed. Refer to the definition of related parties as defined in the general section of this instruction guide.","sortOrder":44}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":2129},"content_quality":"ok","complexity_score":9,"scope_assessment":{"changed":false,"description":"The legislation maintains its original scope as a reporting standard for insurer investment data. While it succeeds earlier reporting standards (transitioning from pre-1 July 2010 standards), the content remains focused on the core purpose of collecting investment composition data for prudential supervision and statistical purposes without significant expansion beyond this original intent."},"complexity_factors":["97 pages spanning 5 separate forms with distinct instructions (GRF 140.0 through 140.4)","Extensive cross-referencing to multiple legislative frameworks: Insurance Act 1973, Corporations Act 2001, Banking Act 1959, and Financial Sector (Collection of Data) Act 2001","Integration with 6+ accounting standards (AASB 121, 139, 1023, 116, 124, 128, 131) and prudential standards (GPS 001, 114, 112)","Complex classification matrices requiring Grade 1–5 counterparty ratings and Global Industry Classification Standard (GICS) sector mapping","Nested conditional logic for 'look-through' basis calculations vs aggregate reporting, differentiated treatment of subordinated debt, and hybrid instruments","Dual-purpose reporting framework serving both APRA prudential supervision and Australian Bureau of Statistics statistical collection","Multi-layered measurement bases (fair value vs historical cost) with specific foreign currency translation rules for monetary vs non-monetary items","18 defined terms plus form-specific definitions spanning related parties, authorised deposit-taking institutions, and extended licensed entities"],"plain_english_summary":"This standard forces all general insurers in Australia — including local firms and foreign branches — to regularly report detailed investment holdings and valuations to APRA. It’s designed to let the regulator assess investment risk and capital adequacy, helping ensure insurers can meet claims and informing national statistics. Compliance timing, signing and submission rules, and technical accounting/prudential treatments are specified in the full standard."},"flash_summary":{"complexity_score":8,"scope_assessment":{"changed":false,"description":"Based solely on the text provided, the reporting standard applies to all general insurers (including foreign branches) for reporting periods ending on or after registration (paragraph 2) and replaces earlier reporting standards for prior periods (paragraph 16). The instrument therefore sets out continuing reporting obligations rather than expanding or narrowing the covered population compared with the immediately preceding regime described in the transition provision."},"complexity_factors":["Multiple interlinked forms (GRF 140.0–140.4) with overlapping scope and automated/calculated fields","Extensive cross-references to prudential standard GPS 114 and numerous AASB accounting standards (AASB 121, AASB 139, AASB 1023, etc.)","Detailed classification and counterparty grading rules for many asset types (interest rate, equity, property, loans, indirect holdings)","Fair‑value measurement requirements and valuation/detailing rules for active, illiquid and embedded instruments","Look‑through option for unit trusts and Extended Licensed Entity (ELE) treatment with associated disclosure demands","Derivatives treatment split across forms (GRF 140.1 vs GRF 160.0) and separate equity market/basis risk calculations","Mandatory audit review and annual auditor certification tied into statutory accounts (audit scope and testing requirements)","Multiple submission and authorisation pathways (electronic digital signature, paper signed copies, agent rules) raising operational controls","APRA discretion to vary reporting frequency, make minor instruction changes, and grant extensions (administrative unpredictability)","Granular related‑party, currency translation and subordinated debt rules that increase preparation burden"],"plain_english_summary":"This reporting standard requires Australian general insurers (including foreign branches) to report the composition of their investments to APRA — normally quarterly and annually — by submitting the GRF 140 series of forms and following the attached instructions. APRA says the data will be used for prudential supervision and to assess compliance with capital standards. Insurers bear the compliance costs: audited controls, fair‑value measurement, digital signing or signed paper copies, detailed classification rules and ongoing operational work; APRA can vary frequency and grant extensions."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-4-of-2010-grs-140-2010-inves","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-4-of-2010-grs-140-2010-inves/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-4-of-2010-grs-140-2010-inves/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-4-of-2010-grs-140-2010-inves/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-4-of-2010-grs-140-2010-inves/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-4-of-2010-grs-140-2010-inves/documents"}}