Financial Sector (Collection of Data) determination No. 39 of 2005 - Reporting Standard ARS 323.0 (2005) - Statement of Financial Position (Licensed ADI)
3. Acceptances3. Acceptances
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Acceptances comprise undertakings by an ADI to pay bills of exchange drawn on customers. The ADI expects most acceptances to be presented before being reimbursed by the customers. These bills of exchange are not held as part of the ADI’s asset portfolio. Acceptances are accounted for and disclosed as a liability with a corresponding contra asset. The contra asset is recognised to reflect the ADI’s claim against each drawer of the bills of exchange.
Bills of exchange that have been accepted and held in an ADI’s asset portfolio should be excluded from this item. Include these holdings of own acceptances under either Trading Securities or Investment Securities.
Netting is allowed in accordance with the requirements specified in the Australian accounting standards (i.e. only if there is a legal right to set off and there is an intention to settle on a net basis, or realise the assets and settle the liability simultaneously).
Acceptances generate fee income that is taken to profit and loss when earned.
Accounts which provide checking facilities of any kind. This account can either be interest bearing or non-interest bearing. This account may be linked with other accounts offering transaction or non-transaction facilities. Do not include accounts which have a cheque facility but a cheque book has never been issued.
Other payment methods
Accounts from which payments may be made to third parties – ATMs, debit card or another electronic device.
All deposits are to be reported net off any setoffs (only if in accordance with AASB 1014).
Exclude from this classification:
negotiable and transferable certificates of deposit;
subordinated debt issues;
subordinated loans;
loans due to the parent entity, controlled entities, associated entities, joint venture entities and other branches under the same parent entity;
Securities sold under agreements to repurchase;
treasury related short-term borrowings from other banks; and
The term households/retail is to be interpreted in the same way as for loans and advances.
4.1.2.2. Deposits: Call/on demand: Non-transaction accounts – Other
Include all other non-transaction deposit call accounts from other parties that are not classified as being from households.
4.2. Term deposits
An account in which money has be placed for a fixed period for a stated interest rate.
4.2.1. Term deposits – Households/retail
The term households/retail is to be interpreted in the same way as for loans and advances.
4.2.2. Term deposits – Other
Include all other term deposit accounts from other parties that are not classified as being from households.
4.3. Deposits: Certificates of deposit
Certificates of deposit are negotiable bearer debt securities. They are issued at a discount to the face value and do not require endorsement when sold.
4.4. Deposits: Retirement saving accounts
Retirement savings accounts (RSAs) are low risk/low return capital guaranteed products subject to the same restrictions as other superannuation products. Only an approved deposit taking institution, building society, credit union, life insurance company or a prescribed financial institution can be approved as an RSA. Some superannuation funds offer RSA lookalike products, but RSA's themselves are specifically approved non-trustee institutions.
4.5 Deposits: Other
Record in aggregate all other forms of deposits that are not included in the deposit account classifications noted above. For SCCIs, report all incidental credit balances on credit card accounts within this item (i.e. credit balances arising in the normal course of the SCCI’s credit card operations, such as prepayments by or refunds to credit card holders).
4.6 Total deposits
Sum the total of “Transaction”, “Non-transaction”, “Term deposits”, “Certificates of deposit” and “Other”.