Reporting periodReporting period

Reporting period

The information provided should be for the calendar month up to and including the last day of the month. This form is to be reported as at the last day of the reporting period. All RFCs should submit the completed form to APRA within 10 business days of the end of the month.

Unit of measurement

All RFCs are asked to complete the form in thousands of Australian dollars rounded to the nearest whole number (no decimal place).

Amounts denominated in foreign currency are to be converted to AUD using the spot exchange rate effective as at the reporting date.

Basis of preparation

Unless otherwise specifically stated, information reported on this form should comply with Australian accounting standards.

Definitions

A separate form for lease finance in all eight states should be completed. Where the entity has no activity in any state, check the “nil form” box. The form requests details of new commitments to provide lease finance to private and public enterprises and individuals. Only the Australian activities of the business should be included on the form. If exact figures are not available please provide careful estimates. Please note that the items listed under ‘Include’ and ‘Exclude’ are examples and should not be taken as a complete list of items to be included or excluded.

What is a “commitment”?

A commitment is a firm offer to provide finance which has been accepted by the client. A commitment generally exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower.

Include:

• commitments to related corporations except to those related corporations within the same Financial Sector (Collection of Data) Act 2001 category or Australian and New Zealand Standard Industrial Classification (ANZSIC) class; and
• new commitments which have also been cancelled during the month.

Exclude:

• commitments to non-residents;
• commitments for commercial hire purchase agreements (these should be reported on the RRF 391.0 Commercial Finance (RRF 391.0));
• commitments for debt participation in leveraged lease agreements (these should be reported on RRF 391.0);
• commitments for leasing of land and buildings; and
• commitments for leveraged leases which are finance leases where the lessor provides a portion of the finance, with the major portion usually provided by long-term creditors and where the creditors’ recourse to the lessor is restricted to the proceeds from disposal of the leased asset and any unremitted lease payments.

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