Financial Sector (Collection of Data) Determination No. 105 of 2005

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Financial Sector (Collection of Data) Determination No.105 of 2005

Reporting Standard GRS 170.1 (2005)

Financial Sector (Collection of Data) Act 2001

I, Stephen Somogyi, a delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act), DETERMINE Reporting Standard GRS 170.1 (2005) Maximum Event Retention and Risk Charge for Lenders Mortgage Insurers, as set out in the attached Schedule, which is required to be complied with by financial sector entities that are Lenders Mortgage Insurers; and

Under subsection 15(2) of the Act, I DECLARE that for the purposes of subsection 15(1) of the Act, the reporting standard begins to apply to those financial sector entities on and after 1 January 2006.

Dated 6 September 2005

[Signed]

Stephen Somogyi

Member

Interpretation

In this Notice

APRA means the Australian Prudential Regulation Authority.

Lenders Mortgage Insurer or LMI is a general insurer which is required to comply with Guidance Note GGN 110.6 Concentration Risk Capital Charge for Lenders Mortgage Insurers (made under section 32 of the Insurance Act 1973).

Note 1 By virtue of paragraph (d) of section 6 of the Legislative Instruments Act 2001, this Determination is a legislative instrument.

Schedule

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Reporting Standard GRS 170.1 (2005)

Maximum Event Retention and Risk Charge for Lenders Mortgage Insurers

Purpose

1. Data collected in each version of Form GRF 170.1 is used by APRA for the purpose of prudential supervision including assessing a LMI’s compliance with Prudential Standard GPS 110.0 Capital Adequacy for General Insurers.

Application and commencement

2. This reporting standard will apply to all LMIs from 1 January 2006.

Information required

3. An LMI must provide APRA with the information required by the version of Form GRF 170.1 designated for a ‘Licensed Insurer’ for each reporting period.[1]

4. An LMI that is a highest parent entity in relation to a consolidated insurance group must also provide APRA the information required by the version of Form GRF 170.1 designated for a ‘Consolidated Insurance Group’ for each reporting period.

Forms and method of submission

5. The information required by this reporting standard must be given to APRA either:

(a) in electronic form, using one of the electronic submission mechanisms provided by the ‘Direct to APRA’ (also known as ‘D2A’) application; or

(b) manually completed on paper, which must be faxed or mailed to APRA’s head office.

Note: The ‘Direct to APRA’ application software and paper forms may be obtained from APRA.

Reporting periods

6. Subject to paragraph 7, an LMI must provide the information required by this reporting standard:

(a) in respect of each quarter based on the financial year (within the meaning of the Corporations Act 2001) of the LMI; and

(b) in respect of each financial year (within the meaning of the Corporations Act 2001) of the LMI.

Note: The annual information required from an LMI by paragraph 3 read with subparagraph 6(b), together with certain annual information required by other reporting standards, will form part of the LMI’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 LMI a certificate relating to the yearly statutory accounts, and that certificate must specify the matters provided for in the prudential standards. (The annual information required from a highest parent entity under paragraph 4 read with subparagraph 6(b) is not required to be audited. APRA proposes to determine an exemption, under section 7 of the Insurance Act, in relation to the obligations under Part IV Division 4 of the Act in respect of the auditing of this information.)

7. APRA may, by notice in writing, change the reporting periods for a particular LMI to require it to provide the information required by this reporting standard:

(a) more frequently (if, having regard to the particular circumstances of the LMI, APRA considers it necessary or desirable to obtain information more frequently for the purposes of the prudential supervision of the LMI); or

(b) less frequently (if, having regard to the particular circumstances of the LMI and the extent to which it requires prudential supervision, APRA considers it unnecessary to require the LMI to provide the information as frequently as provided for in subparagraphs 6(a) and (b)).

Due dates

8. The information required by paragraph 3 of this reporting standard from an LMI must be provided to APRA by the following times:

(a) in the case of the quarterly information required by subparagraph 6(a) – 20 business days after the end of the reporting period to which the information relates; and

(b) in the case of the annual information required by subparagraph 6(b) – 4 months after the end of the reporting period to which the information relates.

Note: 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 6(b) must be provided to APRA by the time specified in subparagraph 8(b) of this reporting standard (unless an extension is granted under paragraph 10).

9. The information required by paragraph 4 of this reporting standard from an LMI must be provided to APRA by the following times:

(a) in the case of the quarterly information required by subparagraph 6(a) – 30 business days after the end of the reporting period to which the information relates; and

(b) in the case of the annual information required by subparagraph 6(b) – 4 months after the end of the reporting period to which the information relates.

10. APRA may grant an LMI 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 on the notice of extension.

Quality control

11. The information provided by an LMI under this reporting standard (except for the information required under paragraph 4) must be the product of processes and controls that have been reviewed and tested by the approved auditor of the LMI. 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.

12. All information provided by an LMI under this reporting standard must be subject to processes and controls developed by the LMI for the internal review and authorisation of that information. It is the responsibility of the board and senior management of the LMI to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.

Authorisation

13. If an LMI submits information required by this reporting standard using the ‘Direct to APRA’ software, it will be necessary for an officer of the insurer to digitally sign, authorise and encrypt the relevant data. For this purpose, APRA’s certificate authority will issue ‘digital certificates’, for use with the software, to officers of the insurer who have authority from the insurer to transmit the data to APRA.

14. If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:

(a) the Principal Executive Officer of the LMI; or

(b) the Chief Financial Officer of the LMI (whatever his or her official title may be).

Minor alterations to forms and instructions

15. APRA may make minor variations to:

(a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or

(b) the instructions to a form, to clarify their application to the form

without changing any substantive requirement in the form or instructions.

16. If APRA makes such a variation it must notify LMIs in writing.

Interpretation

17. In this reporting standard:

Accounting Standard AASB 1024 means the accounting standard so designated made by the Australian Accounting Standards Board, being the accounting standard that applied in respect of reporting periods (within the meaning of the accounting standard) commencing immediately before 1 January 2005.

approved auditor means an auditor who has been approved by APRA under section 40 of the Insurance Act 1973.

branch or branch operation means the Australian operations of a foreign LMI.

business days means an ordinary business days, exclusive of Saturdays, Sundays and public holidays.

consolidated insurance group means a group comprising:

(a) an LMI that is a highest parent entity; and

(b) each subsidiary under the control (within the meaning of Accounting Standard AASB 1024) of that LMI, whether the subsidiary is incorporated in Australia or not.

foreign general insurer has the meaning given in section 3 of the Insurance Act 1973.

Note: A reference to a ‘branch’ or ‘branch operation’ is a reference to the Australian operations of a foreign insurer.

foreign lenders mortgage insurer or foreign LMI means a foreign general insurer that is required to comply with Guidance Note GGN 110.6 Concentration Risk Capital Charge for Lenders Mortgage Insurers.

general insurer has the meaning given in section 3 of the Insurance Act 1973.

Note: In Reporting Form GRF 170.1 and the instructions, the terms ‘authorised insurer’, ‘authorised insurance entity’ and ‘licensed insurer’ mean an LMI. The term ‘authorised reinsurance entity’ refers to an LMI whose business consists only of undertaking liability by way of reinsurance.

highest parent entity means an insurer that satisfies all of the following conditions:

(a) it is incorporated in Australia;

(b) it has at least one subsidiary under its control (within the meaning of Accounting Standard AASB 1024); and

(c) it is not itself a subsidiary of a general insurer that is incorporated in Australia;

lenders mortgage insurer or LMI is a general insurer which is required to comply with Guidance Note GGN 110.6 Concentration Risk Capital Charge for Lenders Mortgage Insurers (made under section 32 of the Insurance Act 1973).

principal executive officer means the principal executive officer of the LMI for the time being, by whatever name called, and whether or not he or she is a member of the governing board of the LMI.

reporting period means a period mentioned in paragraph 6, or, if applicable, paragraph 7 of this reporting standard.

18. A reference to a prudential standard or guidance note means the prudential standard or guidance note, made under section 32 of the Insurance Act, mentioned in the reference, as amended from time to time. If the prudential standard or guidance note has been revoked and replaced, the reference shall be taken to be to the prudential standard or guidance note that has replaced it.

<table cellspacing="0" cellpadding="0" style="width:570pt; border-collapse:collapse"><tbody><tr style="height:54.75pt"><td colspan="8" style="width:559.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:18pt"><span style="font-family:Arial, sans-serif; font-weight:bold">GRF 170.1.1: Maximum Event Retention and Risk Charge for LMIs - Standard Loans</span></p></td></tr><tr style="height:27pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:20pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; 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font-weight:bold">Australian Business Number</span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="border-top:1pt solid #000000; border-left:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:5.4pt; padding-left:4.9pt; vertical-align:bottom"><p style="font-size:9pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; border-top:1pt solid #000000; border-right:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; 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padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="3" style="width:164.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Institution Name</span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; 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padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Reporting Period</span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="border-top:1pt solid #000000; border-left:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:5.4pt; padding-left:4.9pt; vertical-align:bottom"><p style="font-size:9pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; border-top:1pt solid #000000; border-right:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="3" style="width:164.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Scale Factor</span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td colspan="2" style="width:177pt; border:1pt solid #000000; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif">Thousands of dollars no decimal place</span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="4" style="width:238.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Reporting Consolidation</span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td colspan="2" style="width:177pt; border:1pt solid #000000; padding-right:4.9pt; padding-left:4.9pt; vertical-align:top"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span><span style="font-family:Arial, sans-serif">- Licensed Insurer</span></p></td></tr><tr style="height:12.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr></tbody></table>

<table cellspacing="0" cellpadding="0" style="width:570pt; border-collapse:collapse"><tbody><tr style="height:54.75pt"><td colspan="8" style="width:559.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:18pt"><span style="font-family:Arial, sans-serif; font-weight:bold">GRF 170.1.2: Maximum Event Retention and Risk Charge for LMIs - Non-Standard Loans</span></p></td></tr><tr style="height:27pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:20pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="4" style="width:238.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Australian Business Number</span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="border-top:1pt solid #000000; border-left:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:5.4pt; padding-left:4.9pt; vertical-align:bottom"><p style="font-size:9pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; border-top:1pt solid #000000; border-right:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="3" style="width:164.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Institution Name</span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="border-top:1pt solid #000000; border-left:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:5.4pt; padding-left:4.9pt; vertical-align:bottom"><p style="font-size:9pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; border-top:1pt solid #000000; border-right:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="3" style="width:164.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Reporting Period</span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="border-top:1pt solid #000000; border-left:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:5.4pt; padding-left:4.9pt; vertical-align:bottom"><p style="font-size:9pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; border-top:1pt solid #000000; border-right:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="3" style="width:164.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Scale Factor</span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td colspan="2" style="width:177pt; border:1pt solid #000000; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif">Thousands of dollars no decimal place</span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="4" style="width:238.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Reporting Consolidation</span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td colspan="2" style="width:177pt; border:1pt solid #000000; padding-right:4.9pt; padding-left:4.9pt; vertical-align:top"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span><span style="font-family:Arial, sans-serif">- Licensed Insurer</span></p></td></tr><tr style="height:12.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr></tbody></table>

<table cellspacing="0" cellpadding="0" style="width:570pt; border-collapse:collapse"><tbody><tr style="height:54.75pt"><td colspan="8" style="width:559.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:18pt"><span style="font-family:Arial, sans-serif; font-weight:bold">GRF 170.1.3: Maximum Event Retention and Risk Charge for LMIs - Commercial Loans</span></p></td></tr><tr style="height:27pt"><td style="width:16.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:20pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="4" style="width:238.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Australian Business Number</span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="border-top:1pt solid #000000; border-left:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:5.4pt; padding-left:4.9pt; vertical-align:bottom"><p style="font-size:9pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; border-top:1pt solid #000000; border-right:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="3" style="width:164.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Institution Name</span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="border-top:1pt solid #000000; border-left:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:5.4pt; padding-left:4.9pt; vertical-align:bottom"><p style="font-size:9pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; border-top:1pt solid #000000; border-right:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="3" style="width:164.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Reporting Period</span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="border-top:1pt solid #000000; border-left:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:5.4pt; padding-left:4.9pt; vertical-align:bottom"><p style="font-size:9pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; border-top:1pt solid #000000; border-right:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="3" style="width:164.4pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Scale Factor</span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td colspan="2" style="width:176.75pt; border:1pt solid #000000; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif">Thousands of dollars no decimal place</span></p></td></tr><tr style="height:15pt"><td style="width:16.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="4" style="width:238.25pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Reporting Consolidation</span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td colspan="2" style="width:176.75pt; border:1pt solid #000000; padding-right:4.9pt; padding-left:4.9pt; vertical-align:top"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span><span style="font-family:Arial, sans-serif">- Licensed Insurer</span></p></td></tr><tr style="height:12.75pt"><td style="width:16.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr></tbody></table>

<table cellspacing="0" cellpadding="0" style="width:570pt; border-collapse:collapse"><tbody><tr style="height:54.75pt"><td colspan="8" style="width:559.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:18pt"><span style="font-family:Arial, sans-serif; font-weight:bold">GRF 170.1.4: Maximum Event Retention and Risk Charge for LMIs - Summary</span></p></td></tr><tr style="height:27pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:20pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="4" style="width:238.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Australian Business Number</span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="border-top:1pt solid #000000; border-left:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:5.4pt; padding-left:4.9pt; vertical-align:bottom"><p style="font-size:9pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; border-top:1pt solid #000000; border-right:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="3" style="width:164.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Institution Name</span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="border-top:1pt solid #000000; border-left:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:5.4pt; padding-left:4.9pt; vertical-align:bottom"><p style="font-size:9pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; border-top:1pt solid #000000; border-right:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="3" style="width:164.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Reporting Period</span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="border-top:1pt solid #000000; border-left:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:5.4pt; padding-left:4.9pt; vertical-align:bottom"><p style="font-size:9pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; border-top:1pt solid #000000; border-right:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="3" style="width:164.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Scale Factor</span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td colspan="2" style="width:177pt; border:1pt solid #000000; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif">Thousands of dollars no decimal place</span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="4" style="width:238.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Reporting Consolidation</span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.65pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td colspan="2" style="width:177pt; border:1pt solid #000000; padding-right:4.9pt; padding-left:4.9pt; vertical-align:top"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span><span style="font-family:Arial, sans-serif">- Licensed Insurer</span></p></td></tr></tbody></table>

<table cellspacing="0" cellpadding="0" style="width:570pt; border-collapse:collapse"><tbody><tr style="height:54.75pt"><td colspan="8" style="width:559.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:18pt"><span style="font-family:Arial, sans-serif; font-weight:bold">GRF 170.1.5: Maximum Event Retention and Risk Charge for LMIs - Additional Information</span></p></td></tr><tr style="height:27pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:20pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="4" style="width:238.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Australian Business Number</span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="border-top:1pt solid #000000; border-left:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:5.4pt; padding-left:4.9pt; vertical-align:bottom"><p style="font-size:9pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; border-top:1pt solid #000000; border-right:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="3" style="width:164.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Institution Name</span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="border-top:1pt solid #000000; border-left:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:5.4pt; padding-left:4.9pt; vertical-align:bottom"><p style="font-size:9pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; border-top:1pt solid #000000; border-right:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="3" style="width:164.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Reporting Period</span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="border-top:1pt solid #000000; border-left:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:5.4pt; padding-left:4.9pt; vertical-align:bottom"><p style="font-size:9pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; border-top:1pt solid #000000; border-right:1pt solid #000000; border-bottom:1pt solid #000000; padding-right:4.9pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="3" style="width:164.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Scale Factor</span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td colspan="2" style="width:176.75pt; border:1pt solid #000000; padding-right:4.9pt; padding-left:4.9pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif">Thousands of dollars no decimal place</span></p></td></tr><tr style="height:15pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:15.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center; font-size:8pt"><span style="font-family:Arial, sans-serif; font-weight:bold"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr><tr style="height:21pt"><td colspan="4" style="width:238.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:middle"><p style="font-size:16pt"><span style="font-family:Arial, sans-serif; font-weight:bold">Reporting Consolidation</span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td colspan="2" style="width:176.75pt; border:1pt solid #000000; padding-right:4.9pt; padding-left:4.9pt; vertical-align:top"><p style="text-align:center"><span style="font-family:Arial, sans-serif"></span><span style="font-family:Arial, sans-serif">- Licensed Insurer</span></p></td></tr><tr style="height:12.75pt"><td style="width:16.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:63.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:55.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td><td style="width:171.3pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:bottom"><p style="font-size:10pt"><span style="font-family:Arial, sans-serif"></span></p></td></tr></tbody></table>

Reporting Form GRF 170.1

Maximum Event Retention and Risk Charge for Lenders Mortgage Insurers

Instruction Guide

Introduction

This form collects information to calculate the Concentration Risk Capital Charge for Lenders Mortgage Insurers (LMIs) in accordance with Prudential Standard GPS 110 Capital Adequacy and Guidance Notes GGN 110.5 Concentration Risk Capital Charge and GGN 110.6 Concentration Risk Capital Charge for Lenders Mortgage Insurers.

The Guidance Notes detail the calculation of the Maximum Event Retention (MER) for LMIs using the Prescribed Method to determine the Minimum Capital Requirement (MCR).

Note: Under paragraph 42 of Guidance Note GGN 110.6 Concentration Risk Capital Charge for Lenders Mortgage Insurers, APRA may determine that, for a transitional period, an LMI is not required to hold some or all of the capital which it would otherwise be required to hold because of the application of that Guidance Note. However, for the purposes of reporting in Form GRF 170.1, an LMI is required to ignore any such transitional relief and assume that it is required to hold capital as if the transitional relief had not been granted. That is, it must report under Form GRF 170.1 as if it were subject to its full MCR calculated under Prudential Standard GPS 110 Capital Adequacy for General Insurers and its associated guidance notes.

Audit requirements

The form designated for a ‘Licensed Insurer’ (i.e. relating to authorised LMIs, writing both direct and reinsurance business), is required to be subject to audit review and testing. The form designated for a ‘Consolidated Insurance Group’ is not subject to audit review and testing.

The scope and nature of audit testing required is outlined in the applicable Audit Guidance Statement issued by the Auditing and Assurance Board of the Australian Accounting Research Foundation.

Reporting entity

Forms are to be completed for the following reporting entities where appropriate:

1. Branch of a foreign insurer (reference to licensed insurer in the form means total operations of the branch, excluding the parent operations outside Australia);
2. Other (Australian-incorporated) authorised insurance entities, including mutual entities (reference to licensed insurer in the form means total operations of the licensed entity);
3. Authorised reinsurance entities (reference to licensed insurer in the form means total operations of the licensed entity); and
4. Consolidated insurance groups.

For the purposes of APRA prudential reporting, the consolidated insurance group means the accounts incorporating the highest parent entity in a group structure, that is an Australian authorised general insurance entity (for the purposes of the Insurance Act 1973), and includes all subsidiaries, associates and joint ventures (registered both in Australia and overseas) of that parent entity.

For the purposes of this form, the highest parent entity in the corporate group does not include a company (e.g. non-operating holding company) that is not an authorised general insurance entity.

Definition of subsidiaries should be consistent with the requirements of Australian accounting standards AASB 1024 ‘Consolidated Accounts’ and the definition of associates should be consistent with AASB 1016 ‘Accounting for Investments in Associates’.

Exemptions from the consolidated insurance group requirements

• Authorised insurers which do not have any subsidiaries are not required to complete the forms for the consolidated insurance group reporting unit.

• Those authorised insurers which have subsidiaries, but the financial position of their consolidated insurance group is not materially different from that of the licensed insurance entity, are not required to complete the forms for this reporting unit (i.e. the subsidiaries do not have any material dealings / balances).

Reporting period

LMIs are required to report the information in the reporting form on a quarterly and an annual basis.

• The quarterly information is to be completed in respect of each quarter based on the financial year of the LMI, not the calendar year.

• 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 LMI. See the table Reporting Requirements for details.

Reporting lag

This 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 the Reporting Requirements table.

Unit of measurement

Amounts denominated in a currency other than Australian currency are to be converted to AUD in accordance with AASB 1012 ‘Foreign Currency Translation’.

The general requirements of AASB 1012 for translation are:

1. Foreign currency monetary items outstanding at the reporting date must be translated at the spot rate at the reporting date.

2. Other items outstanding at the reporting date must not be retranslated subsequent to initial recognition of the transaction.

Monetary items are defined to mean money held and assets and liabilities that are to be received or paid in fixed or determinable amounts of money (e.g. claims payments, reinsurance recoveries).

Monetary items arising under foreign currency derivative contracts at the reporting date must be translated as follows:

• Where the exchange rate is fixed in the contract, at that fixed exchange rate; and
• Where the exchange rate varies, at the spot rate at the reporting date.

Definitions

Sum insured

Sum insured is the original exposure amount for an LMI as stated in the mortgage insurance policy.

Loan-to-Valuation Ratio (LVR)

LVR is the ratio of the amount of the loan to the value of the secured residential property, as at the date of origination of the loan. LMIs are required to report the sum insured according to the following categories: LVR of less than 60.01, 60.01 to 70, 70.01 to 80, 80.01 to 85, 85.01 to 90, 90.01 to 95, 95.01 to 100, and greater than 100 per cent.

Note that, in form GRF170.1, the LVR category corresponds to two data fields, LVR greater than (%) and LVR less than or equal to (%). To input data in the appropriate LVR category, in the LVR greater than (%) data field, select the LVR corresponding to the lower limit of the LVR category. The form will automatically populate the LVR less than or equal to (%) data field with the appropriate upper limit.

* This category captures all loans with an LVR above 100 per cent.

Age

Age is the length of time from the date of origination of the loan to the date of calculation. Form GRF 170.1 requires reporting of the sum insured according to the following categories: age of less than three years, three to less than five years, five to less than 10 years, and more than 10 years.

Loan type

Standard loans

Standard loans are loans predominantly secured by residential property where the LMI or lender has formally verified the borrower’s income and employment, and the borrower passes standard credit checks and income requirements as documented in the LMI or lender’s underwriting/credit policies and procedures.

Non-standard loans

Non-standard loans are loans predominately secured by residential property that do not meet the criteria for standard loans set out above and/or where APRA has given a direction that the loans should be classified as non-standard loans.

Commercial loans

Commercial loans are loans that are not predominately secured by registered mortgage over residential property and/or where APRA has given a direction that the loans should be classified as commercial loans.

Coverage type

100 per cent cover

100 per cent cover provides insurance for 100 per cent of the loan amount.

Top cover

Top cover provides insurance for less than 100 per cent of the loan amount. Form GRF 170.1 requires reporting according to the following coverage proportions: 20, 25, 30, 35 and 40 per cent cover.

Pool cover

Pool cover provides coverage in respect of a pool of loans, excluding bulk or tranche deals.

Origination channel

Authorised Deposit-taking Institution (ADI)

Policies relating to loans approved, advanced and funded by an ADI.

Non-APRA regulated

Policies relating to loans approved, advanced and funded by a non-ADI.

Refer to Guidance Note GGN 110.6 for further information on the definitions.

Specific Instructions

Form GRF 170.1 is comprised of:

• GRF 170.1.1 – Standard loans;
• GRF 170.1.2 – Non-standard loans;
• GRF 170.1.3 – Commercial loans;
• GRF 170.1.4 – Summary; and
• GRF 170.1.5 – Additional information.

GRF 170.1.1 and GRF 170.1.2

Report the following information, by origination channel, for standard loans in GRF 170.1.1 and for non-standard loans in GRF 170.1.2.

100 per cent and top cover

Sum insured

Report the sum insured for 100 per cent and top cover according to LVR, age, and coverage proportion.

Total sum insured

This is the total sum insured across the four age categories and will be automatically calculated by the form.

Probable Maximum Loss (PML)

The PML is the largest loss to which an insurer will be exposed (within the realms of possibility) due to a concentration of policies, without any allowance for reinsurance recoveries. This is the sum insured multiplied by Probability of Default (PD), Loss-Given-Default (LGD) and seasoning factors and will be automatically calculated by the form.

PD

This is applied to the sum insured in determining the PML and varies according to LVR. The PD factors are set out in Attachment 1 of GGN 110.6.

LGD

This is applied to the sum insured in determining the PML and varies according to LVR and coverage proportion. The LGD factors for 100 per cent cover are set out in Attachment 1 of GGN 110.6 Concentration Risk Charge for Lenders Mortgage Insurers. For top cover, the LGD is calculated by dividing the LGD for 100 per cent cover by the coverage proportion, subject to a maximum of 100 per cent.

Seasoning factor

This is applied to the sum insured in determining the PML and varies according to age. The seasoning factors are set out in Attachment 1 of GGN 110.6 Concentration Risk Charge for Lenders Mortgage Insurers.

Pool cover

Sum insured

Report the sum insured for pools of loans with different LVR and/or age separately.

Weighted-average LVR (%)

Input the weighted-average LVR as a percentage of each pool.

PD

This is the PD corresponding to the weighted-average LVR of the pool and will be automatically calculated by the form.

Weighted-average age

Input the weighted-average age (in years) of each pool.

Seasoning factor

This is the seasoning factor corresponding to the weighted-average age of the pool and will be automatically calculated by the form.

PML

This is the sum insured multiplied by PD, LGD and seasoning factors and will be automatically calculated by the form. The LGD for pool cover is 100 per cent.

GRF 170.1.3

ADI

Report the sum insured for policies insuring commercial loans that are approved, advanced and funded by an ADI.

Non-APRA regulated

Report the sum insured for policies insuring commercial loans that are approved, advanced and funded by a non-ADI.

PML

This is eight per cent of the sum insured and will be automatically calculated by the form.

GRF 170.1.4

Summary

This represents a summary of the sum insured and PML by origination channel, coverage type and loan type. This will be automatically generated by the form from the data reported in GRF 170.1.1, GRF 170.1.2 and GRF 170.1.3.

MER calculation

PML

This represents the total PML across all loan types, coverage types and origination channels. Total PML is allocated in the proportions of 25 per cent to each of years one and three of the MER scenario, and 50 per cent to year two.

Adjustment to the PML

In order to reflect the expiration of existing policies, LMIs in run-off may input an amount by which the PML is expected to be reduced in years two and three of the MER scenario, as outlined in paragraph 22 of GGN 110.6 Concentration Risk Charge for Lenders Mortgage Insurers.

Adjusted PML

This is the PML less the adjustment to the PML and will be automatically calculated by the form.

Available reinsurance

Input the amount of available reinsurance for each of the three years of the MER scenario. The methodology for calculating available reinsurance is detailed in paragraphs 30 to 36 and Attachment 2 of GGN 110.6 Concentration Risk Charge for Lenders Mortgage Insurers.

Allowable reinsurance

This is the lesser of available reinsurance and 60 per cent of the adjusted PML and will be automatically calculated by the form.

PML net of reinsurance

This is the adjusted PML less allowable reinsurance and will be automatically calculated by the form.

Claims handling expenses

This is five per cent of the adjusted PML and will be automatically calculated by the form.

Reinstatement costs

Input the cost of one full reinstatement of reinsurance cover (if applicable).

MER

The MER is the largest loss to which an insurer will be exposed (taking into account the probability of that loss) due to a concentration of policies, after netting out any reinsurance recoveries. This is the sum of the PML net of reinsurance, claims handling expenses and reinstatement costs and will be automatically calculated by the form.

Refer to Guidance Note GGN 110.6 Concentration Risk Charge for Lenders Mortgage Insurers for further information on the method of calculation.

GRF 170.1.5

The information collected in GRF 170.1.5 will not directly affect the calculation of the MER.

Inwards reinsurance

This represents policies held with the insurer by other LMIs.

Standard and non-standard loans

Inwards reinsurance

For 100 per cent and top cover, report inwards reinsurance exposures by LVR, age and coverage proportion. Total inwards reinsurance will be automatically calculated by the form.

For inwards reinsurance of pools of loans, report pools with different LVR and/or age separately. Input the weighted-average age and weighted-average LVR of each pool.

Of which non-APRA regulated

Of total inwards reinsurance exposures, identify policies insuring loans that are approved, advanced and funded by non-ADIs.

Of which non-standard loans

Of total inwards reinsurance exposures, identify policies insuring non-standard loans.

Commercial loans

Report inwards reinsurance exposures relating to commercial loans. Identify policies insuring loans that are approved, advanced and funded by non-ADIs.

Large liability exposures by originator

Report the following information relating to the five largest liability exposures.

Originator

Report the name of the originator.

Sum insured

Report the total sum insured of the originator.

Open policy (%)

Open policy is a legal arrangement whereby a lender is given direct underwriting control for mortgage insurance policies without reference to the LMI, subject to the transaction meeting certain underwriting requirements. Report the percentage of insurance policies, by value, written under open policy.

Note on references to accounting standards

This note is about references in these instructions to 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.

All such references must be read as meaning the version of the accounting standard, 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.

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[1] For most LMIs, the first reporting period will be the quarter ending 31 March 2006.