Financial Sector (Collection of Data) (reporting standard) determination No. 31 of 2016 - RRS 391.0 - Commercial Finance
Part A: New commitments for fixed loans Part A: New commitments for fixed loans — By purpose
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Part A: New commitments for fixed loans – By purpose
The purpose of the loan is that specified by the borrower. Multi-purpose loans should be split and each component reported in the appropriate purpose classification. Where this is not possible the whole loan should be classified to the major purpose.
Fixed loans generally involve a commitment for a fixed period for a specific purpose and repayments over that fixed period which reduce the loan, but do not make further finance available.