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Financial Sector (Collection of Data) (reporting standard) determination No. 101 of 2023
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A
| APRA-approved adjustment amount | If APRA is of the view that the APRA-approved adjustment type does not produce an appropriate outcome in respect of a fund, or if a private health insurer has used inappropriate judgement or estimation in calculating the APRA-approved adjustment type for a fund, APRA may adjust the APRA-approved adjustment type calculation for that fund.Where the adjustment relates to the transitional arrangements referred to in HPS 110, this amount should be reported as an APRA-approved adjustment amount with the APRA-approved adjustment transitional indicator reported as “Y” and the APRA-approved adjustment type reported as “Prescribed Capital Amount”. |
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| APRA-approved adjustment type | This means the type of APRA-approved adjustment. Possible types are:Prescribed Capital Amount;Asset Risk Charge;Insurance Risk Charge - OCL Risk Charge;Insurance Risk Charge - PL Risk Charge;Insurance Risk Charge - RE Risk Charge;Insurance Risk Charge - Other Insurance Liabilities Risk Charge;Insurance Risk Charge - Future Exposure Risk Charge (HIB);Insurance Risk Charge - Future Exposure Risk Charge (HRIB);Insurance Risk Charge - Deferred Claims Liability Risk Charge;Asset Concentration Risk Charge; andOperational Risk Charge. |
| Asset Concentration Risk Charge | The Asset Concentration Risk Charge is the minimum amount of capital required to be held against asset concentration risks. The Asset Concentration Risk Charge relates to the risk resulting from investment concentrations in individual assets or large exposures to individual counterparties or groups of related counterparties resulting in adverse movements in the fund’s capital base.This must be determined in accordance with Prudential Standard HPS 117 Capital Adequacy: Asset Concentration Risk Charge. |
| Asset Risk Charge | The Asset Risk Charge relates to the risk of adverse movements in the value of a fund’s capital base due to credit or market risks. This must be determined in accordance with Prudential Standard HPS 114 Capital Adequacy: Asset Risk Charge. |
G
| General fund | Has the same meaning as in HPS 001. |
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H
| Health benefits fund | Has the same meaning as in the Private Health Insurance (Prudential Supervision) Act 2015. |
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