Financial Sector (Collection of Data) (reporting standard) determination No. 14 of 2026Reporting Standard LRS 114.3 Off-balance Sheet BusinessFinancial Sector (Collection of Data) Act 2001I, Andrew Robertson, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) and subsection 33(3) of the Acts Interpretation Act 1901:revoke Financial Sector (Collection of Data) (reporting standard) determination No. 28 of 2023, including Reporting Standard LRS 114.3 Off-balance Sheet Business made under that determination; anddetermine Reporting Standard LRS 114.3 Off-balance Sheet Business, in the form set out in the Schedule, which applies to the financial sector entities to the extent provided in paragraph 3 of that reporting standard.Under section 15 of the Act, I declare that Reporting Standard LRS 114.3 Off-balance Sheet Business shall begin to apply to those financial sector entities, and the revoked reporting standard shall cease to apply, at the start of the day after this instrument is registered on the Federal Register of Legislation.This instrument commences at the start of the day after it is registered on the Federal Register of Legislation.Dated: 27 October 2026Andrew RobertsonGeneral Manager - Chief Data OfficerData, Technology and Security DivisionInterpretationIn this Determination:APRA means the Australian Prudential Regulation Authority.Federal Register of Legislation means the register established under section 15A of the Legislation Act 2003.financial sector entity means financial sector entities of a kind referred to in paragraphs 5(2)(a) to (d) of the Act.Schedule Reporting Standard LRS 114.3 Off-balance Sheet Business comprises the document commencing on the following page.
APRA may, by written notice to the life company, vary the reporting requirements of this Reporting Standard in relation to that life company.TransitionA life company must report under the old reporting standard in respect of a transitional reporting period. For these purposes:old reporting standard means the reporting standard revoked in the determination making this Reporting Standard; andtransitional reporting period means a reporting period under the old reporting standard:which ended before 31 December 2026; andin relation to which the life company was required, under the old reporting standard, to report by a date on or after the date of revocation of the old reporting standard.Note: For the avoidance of doubt, if a life company was required to report under an old reporting standard, and the reporting documents were due before the date of revocation of the old reporting standard, the life company is still required to provide any overdue reporting documents in accordance with the old reporting standard.InterpretationIn this Reporting Standard:unless the contrary intention appears, words and expressions have the meanings given to them in Prudential Standard CPS 001 Defined Terms (CPS 001); andthe following definitions are applicable:Auditor means an auditor appointed under section 83 of the Life Act.capital adequacy standards means the prudential standards which relate to capital adequacy as defined in CPS 001. Chief Financial Officer means the chief financial officer of the life company, by whatever name called.financial year has the meaning in the Corporations Act 2001.general instruction guide refers to the general instruction guide set out in Attachment A of LRS 001.Life Act means the Life Insurance Act 1995.Principal Executive Officer means the principal executive officer of the life company, by whatever name called, and whether or not he or she is a member of the governing board of the entity.reporting period means a reporting period under paragraph 7 or, if applicable, paragraph 8.Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.Reporting Standard LRS 114.3Off-balance Sheet BusinessGeneral instructionsReporting tablesTables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.DefinitionsTerms highlighted in bold italics indicate that the definition is provided in these instructions.AAll other non-market-related off-balance sheet itemsAny non-market-related off-balance sheet transactions that give rise to credit risk and have not been identified elsewhere.For these items, a life company should consult APRA on the appropriate counterparty grade to be used as a component of assets to be stressed under Prudential Standard LPS 114 Capital Adequacy: Asset Risk Charge.Any other irrevocable commitmentsThis means any undrawn formal standby facilities and credit lines, and other irrevocable commitments.The amount of undrawn commitment to be included in calculating life companies’ off-balance sheet non-market related credit exposures is the maximum unused portion of the commitment that could be drawn during the remaining period to maturity. The drawn portion of a commitment forms part of a life company’s on-balance sheet credit exposure.Approved Balance Available | Approved balance available means the total approved balance of the facility at the reporting date.Assets sold with recourse | This means any asset sales (to the extent that such assets are not included on-balance sheet) by a life company where the holder of the asset is entitled to ‘put’ the asset back to the life company within an agreed period or under certain prescribed circumstances, e.g. deterioration in the value or credit quality of the asset concerned.Associates / joint venturesThis refers to all associates and/or joint ventures, where:Associate means an associate as defined under Australian Accounting Standard AASB 128 Investments in Associates and Joint Ventures.A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. For the purposes of this form, a joint operation defined under Australian Accounting Standard AASB 11 Joint Arrangements is to be treated as a joint venture.BBenefit fund | Means an approved benefit fund as defined in CPS 001.Bill acceptance / discount facilities | This refers to another form of liquidity/funding. The funding is provided to the life company by a facility that discounts bills (e.g. bank accepted bills). Principal and interest (discount) owing on the bill is repaid or ‘rolled over’ by the life company on maturity of the bill.Bill endorsements | This refers to the bills endorsed under bill endorsement lines (but are not accepted by, or have the prior endorsement of, an authorised deposit-taking institution (ADI)).CCommitments that can be unconditionally revoked at any time without notice | This refers to non-market related off-balance sheet contingent liabilities relating to commitments that can be unconditionally revoked at any time without notice.Credit derivatives - sold protection | This is the credit derivative exposures where protection is sold.DDirect Credit Substitutes | Any irrevocable off-balance sheet obligations that carry the same credit risk as a direct extension of credit, such as an undertaking to make a payment to a third party in the event that a counterparty fails to meet a financial obligation, or an undertaking to a counterparty to acquire a potential claim on another party in the event of default by that party, constitutes a direct credit substitute (i.e. the risk of loss depends on the creditworthiness of the counterparty or the party on whom a potential claim is acquired).EExtent of Indebtedness Secured by Assets | This is the minimum of the value of the assets subject to the charge and the outstanding value of the charge granted.FFacilities with greater than 5 day draw down | This refers to those standby facilities that can be drawn down (funds accessed) more than five days after notice is given by the life company of its intention to draw down on the standby facility (i.e. a five day waiting period).Facilities with same day draw down | This refers to those standby facilities that can be drawn down (funds accessed) on the same day that notice is given by the life company of its intention to draw down on the standby facility.Facilities with 2 - 5 day draw down | This refers to those standby facilities that can be drawn down (funds accessed) within two to five days after notice is given by the life company of its intention to draw down on the standby facility (i.e. a two-five day waiting period).Forward asset purchasesThis refers to:commitments to purchase at a future date and on pre-arranged terms; anda loan, security or other asset from another party, including written put options on specified assets with the character of a credit enhancement.Where a life company purchasing the asset has an unequivocal right to substitute cash settlement in place of accepting delivery of the asset, and the price on settlement is calculated with reference to a general market price indicator (and not to the financial condition of any specific entity), the purchase may be treated as a market-related off-balance sheet transaction.Written put options expressed in terms of market rates for currencies or financial instruments bearing no credit risk should not be included.GGuarantees | This is the potential credit exposures arising from the issue of guarantees.LLetter of credit facilities | This is an irrevocable and unconditional undertaking covering a life company to repay principal and interest on a loan in the event of default by the life company.Life company fund | This means the type of life company fund. Possible types are:statutory fund; benefit fund.Loans approved but Not Yet Advanced | This means loans that are approved but not yet drawn.NNote issuance and revolving underwriting facilities | This refers to arrangements whereby a borrower may draw down funds up to a prescribed limit over a predefined period by making repeated note issues to the market, and where, should the issue prove unable to be placed in the market, the unplaced amount is to be taken up or funds made available by a life company being committed as an underwriter of the facility.OOther Commitments | This consists of:Loans approved but Not Yet Advanced;Any other irrevocable commitments; andCommitments that can be unconditionally revoked at any time without notice.Other credit substitutes | This is the value of all other credit substitutes that do not appropriately fall under the categories: Guarantees; Credit derivatives - sold protection; Standby letters of credit; or Bill endorsements.Other irrevocable commitments | This refers to all other irrevocable commitments that are not Undrawn formal standby facilities and credit lines.Other liquidity support facilitiesThis refers to all other off-balance sheet liquidity support facilities contracted for the life company’s use that are not identified elsewhere.Other related parties | This means any counterparty that is deemed a related party in accordance with AASB 124 Related Party Disclosures, which is not separately reported as a related party type.Outstanding Value of the charge | This refers to the outstanding value of the charge or encumbrance (as at the reporting date) given over assets of the life company.Overdrafts | These are accounts that may be overdrawn up to limits agreed to with an ADI.PParent | This means an entity that controls one or more entities.Partly paid shares and securities | This refers to:any amounts owing on the uncalled portion of partly paid shares; andsecurities that represent commitments with certain draw down by the issuer at a future date.Performance-related contingencies | Contingent liabilities that involve an irrevocable obligation to pay a third party in the event that a counterparty fails to fulfil or perform a contractual non-monetary obligation, such as delivery of goods by a specified date, etc (i.e. the risk of loss depends on a future event that is not directly related to the creditworthiness of the counterparty involved). Include:issue of performance bond;bid bonds;warranties;indemnities; andstandby letters of credit in relation to a non-monetary obligation of a counterparty under a particular transaction.Placements of forward deposits | This refers to any agreement between a life company and another party whereby the life company will place a deposit at an agreed rate of interest with that party at a predetermined future date.Principal amount | The principal amount represents the face value, or gross amount, of an off-balance sheet transaction.Principal Value of the charge | This refers to the principal or face value or amount of the charge or encumbrance given over assets of the life company.Purpose of Charge / EncumbranceThe permitted purposes are set out in sections 38 and 40 of the Life Act.The enumerated values are:DerivativesMajor Development ProjectOverdraft; andOther.SSale and repurchase agreements | This refers to arrangements whereby a life company sells a loan, security or other asset to another party with a commitment to repurchase the asset at an agreed price on an agreed future date.Standby Facilities | This means an arrangement in which a party has the right but not the obligation to draw down funds to a specified limit. Generally, the drawing party is required to provide written notice to trigger draw down (access to the funds) on these facilities.Standby letters of credit | This refers to the confirmation of letters of credit and issue of standby letters of credit serving as financial guarantees for loans, securities and any other financial liabilities.Subsidiaries | This refers to all subsidiaries, where a subsidiary has the same meaning as is defined in the Corporations Act 2001.TTotal Direct Credit Substitutes | This is the total of direct credit substitutes provided by the life company.Total non-market-related off-balance sheet items | This is the value of all off-balance sheet items that are not transacted in financial markets.Total off-balance sheet liquidity support facilities | This is the total of liquidity support facilities contracted to the life company to supplement its liquidity requirements.Trade-related contingencies | Contingent liabilities arising from trade-related obligations that are secured against an underlying shipment of goods. Include:documentary letters of credit issued;acceptances on trade bills;shipping guarantees issued; andany other trade-related contingencies.Type of Charge / EncumbranceThe following is not an exhaustive list but is provided as an example:Fixed charge - A fixed charge is generally given in relation to a specific asset or assets and it will generally limit the ability or right of the life company to deal with those assets.Floating charge - A floating charge may be given over specific assets or all assets of the life company and may generally only crystallise and become a fixed charge on the occurrence of a specific event that is agreed between the parties (i.e. default on payment, or not maintaining specified interest coverage ratios).UUndrawn Balance Available | Undrawn balance available refers to the balance of the facility that has not been used or drawn down by the life company at the reporting date.Undrawn formal standby facilities and credit lines | This refers to irrevocable commitments relating to undrawn formal standby facilities and credit lines.VValue of assets subject to the charge | For each separate charge listed, this is the value of the assets that are subject to the charge or encumbrance.Specific InstructionsTable 1: Non-Market Related Off-Balance Sheet ItemsReporting basisThis table applies to life companies including friendly societies. This table applies to statutory and benefit funds.Units of measurementThis values in this table must be completed in whole Australian dollars.Column 1 | Report the principal amount.Report transactions or commitments that entail the following items listed below.1. Direct Credit SubstitutesItem 1.1 | Report guarantees.Item 1.2 | Report credit derivatives - sold protection.Item 1.3 | Report standby letters of credit.Item 1.4 | Report bill endorsements.Item 1.5 | Other credit substitutes is a derived item and is calculated as item 1.6 less the sum of items 1.1 to 1.4.Item 1.6 | Report total direct credit substitutes.2. Performance-related contingenciesItem 2 | Report performance-related contingencies.3. Trade-related contingenciesItem 3 | Report trade-related contingencies.4. Sale and repurchase agreementsItem 4 | Report sale and repurchase agreements.5. Assets sold with recourseItem 5 | Report assets sold with recourse.6. Forward asset purchasesItem 6 | Report forward asset purchases.7. Partly paid shares and securitiesItem 7 | Report partly paid shares and securities.8. Placements of forward depositsItem 8 | Report placements of forward deposits.9. Note issuance and revolving underwriting facilitiesItem 9 | Report note issuance and revolving underwriting facilities.10. Other CommitmentsItem 10.1 | Report loans approved but not yet advanced.Item 10.2 | Any other irrevocable commitmentsItem 10.2.1 | Report undrawn formal standby facilities and credit lines.Item 10.2.2 | Report other irrevocable commitments.Item 10.3 | Report commitments that can be unconditionally revoked at any time without notice.11. All other non-market-related off-balance sheet itemsItem 11 | All other non-market-related off-balance sheet items is a derived item and is calculated as item 12 less the sum of items 1.6 to 10.12. Total non-market-related off-balance sheet itemsItem 12 | Report total non-market-related off-balance sheet items.Item 12.1 | Report the total value of non-market related off-balance sheet items that are with the parent.Item 12.2 | Report the total value of non-market related off-balance sheet items that are with subsidiaries.Item 12.3 | Report the total value of non-market related off-balance sheet items where the counterparties are associates / joint ventures.Item 12.4 | Report the total value of non-market related off-balance sheet items that are with other related parties.Table 2: Other Off-Balance Sheet Transactions - Off-Balance Sheet Liquidity Support Facilities Contracted for Reporting Entity's UseReporting basisThis table applies to life companies including friendly societies. This table applies to statutory and benefit funds.Units of measurementThis values in this table must be completed in whole Australian dollars.Column 1 | Report the approved balance available.Column 2 | Report the undrawn balance available.1. Standby FacilitiesItem 1.1 | Report facilities with same day draw down.Item 1.2 | Report facilities with 2 - 5 day draw down.Item 1.3 | Report facilities with greater than 5 day draw down.2. Bill acceptance / discount facilitiesItem 2 | Report bill acceptance / discount facilities.3. Letter of credit facilitiesItem 3 | Report letter of credit facilities.4. OverdraftsItem 4 | Report overdrafts.5. Other liquidity support facilitiesItem 5 | Other liquidity support facilities is a derived item and is calculated as item 6 less the sum of items 1.1, 1.2, 1.3, 2, 3 and 4.6. Total off-balance sheet liquidity support facilitiesItem 6 | Report total off-balance sheet liquidity support facilities.Item 6.1 | Report the total approved balance available of off-balance sheet liquidity support facilities that are with the parent.Item 6.2 | Report the total approved balance available of off-balance sheet liquidity support facilities that are with subsidiaries.Item 6.3 | Report the total approved balance available of off-balance sheet liquidity support facilities where the counterparties are associates / joint ventures.Item 6.4 | Report the total approved balance available of off-balance sheet liquidity support facilities that are with other related parties.Table 3: Other Off-Balance Sheet Transactions - Charges and EncumbrancesReporting basisThis table applies to life companies including friendly societies. This table applies to statutory and benefit funds.Units of measurementThis values in this table must be completed in whole Australian dollars.Name | Valid values | Description1 | Life Company Fund Type | Statutory fundBenefit fund | Report the life company fund.2 | Life Company Fund Name | Free text | Report the name of the life company fund.3 | Purpose of Charge / Encumbrance | OverdraftDerivativesMajor development projectOther | Report the purpose of charge / encumbrance.4 | Type of Charge / Encumbrance | Free text | Report the name of the type of charge / encumbrance.5 | Principal Value of the Charge | Whole dollars | Report the principal value of the charge.6 | Outstanding Value of the Charge | Whole dollars | Report the outstanding value of the charge.7 | Value of Assets Subject to the Charge | Whole dollars | Report the value of assets subject to the charge.8 | Extent of Indebtedness Secured by Assets | Whole dollars | Extent of indebtedness secured by assets is a derived item and is calculated as the minimum of the value of the assets subject to the charge (column 7) and the outstanding value of the charge granted (column 6).