Financial Sector (Collection of Data) determination No. 88 of 2005 - Reporting Standard ARS 320.9 (2005) - Intra-Group Receivables and Payables
Reconciliation with ARF 320.0 Statement Reconciliation with ARF 320.0 Statement of Financial Position (Domestic Books)
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The Intra-Group Receivables and Payables form is to be completed by all locally incorporated banks and Foreign ADIs (other than specialist credit card institutions) on a Domestic Books basis.
The Domestic books of the locally incorporated banks and Foreign ADIs relates to the Australian books of the Australian ADI and has the following scope:
Is an unconsolidated report of the Australian licensed ADI's operations/transactions that are booked inside Australia.
Exclude offshore branches of the Australian licensed ADI from this reporting unit.
Exclude offshore banking units based overseas from this reporting unit.
Do not consolidate Australian and offshore controlled entities or associated entities that are not ADIs.
Include Australian based offshore banking units of the licensed ADI.
Include transactions with non-residents recorded on Australian books.
Reporting period
The form is to be completed as at the last day of the stated reporting quarter. Locally incorporated banks and Foreign ADIs should submit the completed form to APRA within 20 business days after the end of the relevant reporting quarter.
Unit of measurement
Banks are asked to complete the form in millions of Australian dollars rounded to one decimal place.
Amounts denominated in foreign currency are to be converted to AUD in accordance with AASB 1012 ‘Foreign Currency Translation’.
The general requirements of AASB 1012 for translation are:
Foreign currency monetary items outstanding at the reporting date must be translated at the spot rate at the reporting date.
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.
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.
Timing
Report assets and liabilities, and transactions in assets and liabilities as at the date of change of ownership.
Netting
Part Reconciliation with ARF 320.0 Statement - Financial Sector (Collection of Data) determination No. 88 of 2005 - Reporting Standard ARS 320.9 (2005) - Intra-Group Receivables and Payables - Reconciliation with ARF 320.0 Statement of Financial Position (Domestic Books) | Zoe
Unless otherwise specifically stated, institutions are to comply with the prerequisite for netting outlined in Australian accounting standards AASB 1014 ‘Set-off and Extinguishment of Debt’ and AASB 1033 ‘Presentation and Disclosure of Financial Instruments’.
Term to maturity
References to term to maturity in this form are references to original term to maturity
Basis of preparation
Unless otherwise specifically stated, institutions are to comply with Australian accounting standards regarding the measurement of asset, liability and equity items.
Specific instructions
Refer to the sector definitions in the ARF 320.0 Statement of Financial Position (Domestic Books) instructions as a general guide for reporting by sector.
Related parties: Related parties of the reporting entity include the parent entity, controlled entities, associated entities, joint venture entities and other branches under the same parent entity.
Intra-group loans and advances
Report all loans and advances to related parties that are resident entities. Loans and advances are defined in the ARF 320.0 Statement of Financial Position (Domestic Books) instructions. For the purpose of this form, intra-group loans and advances should be recognised gross of provisions for impairment.
Loans and advances should be recorded net of unearned revenue; this is mainly with respect to unearned lease receivables.
Netting is permitted in accordance with the requirements of the Australian accounting standards (i.e. were there is a legal right to set off the recognised amounts and there is an intention to settle on a net basis, or realise the assets and settle the liability simultaneously).
Note: Loans and advances are investments of the ADI, which are deemed for this form not to be evidenced by the financing/issue of debt securities (e.g. bill financing).
Include:
Loans to related parties that are resident (i.e. loans included in Intra-group loans and advances on ARF 320.0 Statement of Financial Position (Domestic Books)).
Exclude:
Holdings of debt securities issued by related parties that are resident entities; and
Other accounts receivable (e.g. fees & commissions receivable) from related parties that are resident entities.
Intra-group deposits
Report deposits and other borrowings from related parties that are resident entities.
Include:
Deposits and other borrowings from related parties that are resident entities (i.e. deposits and other borrowings included in Intra-group deposits on ARF 320.0 Statement of Financial Position (Domestic Books)).
Exclude:
Debt securities issued to related parties that are resident entities; and
Other accounts payable (e.g. fees & commissions payable) from related parties that are resident entities.
Reconciliation with ARF 320.0 Statement of Financial Position (Domestic Books)
Total intra-group loans and advances
Total intra-group loans and advances (ARF 320.9 Intra-Group Receivables and Payables)
Equals
Intra-group loans and advances – Total (gross of provisions for impairment) (ARF 320.0 Statement of Financial Position (Domestic Books)).
Total intra-group deposits
Total intra-group deposits (ARF 320.9 Intra-Group Receivables and Payables)
Equals
Intra-group deposits – Total (ARF 320.0 Statement of Financial Position (Domestic Books)).
Note on References to Accounting Standards
This Note is about references in these instructions to an accounting standard or accounting standards, e.g. where the instructions say that something must be done in accordance with a particular AASB or international accounting standard, or must be done in accordance with the accounting standards (however described) generally.
Where you see such a reference, you must read it as meaning the version of the accounting standard, or versions of the accounting standards, applying to reporting periods (within the meaning of the accounting standards) beginning immediately before 1 January 2005.
Accordingly, the new AASB standards for 2005 are not to be applied.
Similarly, a reference to principles or conventions (however described) governing an accounting procedure or treatment shall be taken to refer to principles or conventions applicable in relation to reporting periods (within the meaning of the accounting standards) that began immediately before 1 January 2005.