Schedule of feesSchedule of fees

Schedule of fees

One aim of the return is to measure the total cost of business credit. To facilitate this, banks should attach to the return each quarter a schedule of all bank fees charged to business customers on each of variable rate loans, fixed rate loans, bill acceptances and bill endorsements. The schedule should include the following basic information:

• the type of facility on which the fee is charged (i.e. overdrafts, term loans etc);
• the fee charged, generally expressed in dollars or as a percentage of the size of the facility. Any differences in fees for loans or bills of different sizes should be shown. Where no fixed or set fee exists, show the range typically charged; and
• how frequently the fee is charged (i.e. quarterly, half yearly etc.).

Show all fees charged, even when those fees might be waived for certain customers.

Fees typically charged on loans and bills include:

• application, approval or establishment fees charged when the facility is established or the size of the facility increased;
• loan administration fees, also known as loan service, line or facility fees;
• commitment and unused limit fees levied on the undrawn portion of a facility; and
• certain specific fees applying to bills including acceptance and endorsement fees (i.e. risk margins), activation fees, usage fees, rollover fees and handling fees.

Note on References to Accounting Standards

This Note is about references in these instructions to an accounting standard or accounting standards, e.g. where the instructions say that something must be done in accordance with a particular AASB or international accounting standard, or must be done in accordance with the accounting standards (however described) generally.

Where you see such a reference, you must read it as meaning the version of the accounting standard, or versions of the accounting standards, applying to reporting periods (within the meaning of the accounting standards) beginning immediately before 1 January 2005.

Accordingly, the new AASB standards for 2005 are not to be applied.

Similarly, a reference to principles or conventions (however described) governing an accounting procedure or treatment shall be taken to refer to principles or conventions applicable in relation to reporting periods (within the meaning of the accounting standards) that began immediately before 1 January 2005.