Financial Sector (Collection of Data) (reporting standard) determination No. 63 of 2006 - Reporting Standard GRS 110.0 (2007) Minimum Capital Requirement
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Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 63 of 2006 - Reporting Standard GRS 110.0 (2007) Minimum Capital Requirement.
Instruction Guide
Introduction
This form reports the summary of the risk charges, Minimum Capital Requirement (MCR), the capital base, net assets in Australia, and compliance with the capital requirements as prescribed in GPS 110 Capital Adequacy.
The individual risk charges and capital base summarised on this form are calculated in other forms. The form will automatically calculate the MCR of the reporting insurer based on the information reported for the individual risk charges. Additionally, information relating to the capital surplus/deficiency and capital ratios will be calculated automatically.