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Financial Sector (Collection of Data) (reporting standard) determination No. 70 of 2023
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Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 70 of 2023.
Reporting basis
Report the components of the GPS 340 OCL for international business on a GPS 340 basis by international region (excluding Australia) for direct business and reinsurance business.
Units of measurement
Report monetary values in whole Australian dollars.
Report all percentages as percentage points to two decimal places.
| Name | Valid values | Description | |
|---|---|---|---|
| 1 | International Region | New ZealandSouth East AsiaAsia PacificUSAAmericasUK or EuropeOther | Report the international region. |
| 2 | Business Type | Direct businessReinsurance business | Report the business type. |
| 3 | Gross OCL - Central Estimate (Excluding Claims Handling Expenses) | Whole dollars | Report the gross OCL - central estimate (excluding claims handling expenses). |
| 4 | Claims Handling Expenses | Whole dollars | Report the claims handling expense. |
| 5 | Gross OCL - Diversified Risk Margin | Whole dollars | Report the gross OCL - diversified risk margin. |
| 6 | Net OCL - Non-Reinsurance Recoveries (Central Estimate) | Whole dollars | Report the net OCL - non-reinsurance recoveries (central estimate).Non-reinsurance recoveries should be reported as a positive number if they act to reduce the gross OCL. |
| 7 | Net OCL - Reinsurance Recoverables (Central Estimate) | Whole dollars | Report the net OCL - reinsurance recoverables (central estimate).Reinsurance recoverables should be reported as a positive number if they act to reduce the gross OCL. |
| 8 | Net OCL - Diversified Risk Margin | Whole dollars | Report the net OCL - diversified risk margin. |
| 9 | OCL Capital Factor % | Percentage | Report the OCL capital factor % to two decimal places. |