PET - Plain English Taxonomy

Attribute: R12374
Concept:
Label: Local Liabilities of Foreign Affiliates in Local Currency
Concept Guidance:
This is the value of all cross border financial liabilities of the reporting party as at the relevant date. A financial liability consists of money or a claim that another person or business (the counterparty) has against the reporting party that can be converted into money.                                                                                                                 It does not include operational liabilities of the reporting party nor does it include claims arising as a result of operational requirements of the business such as trade payables, unearned income or tax liabilities.                                                                                                                                      Local liabilities are those where a reporting entities' branch or subsidiary, operating in a foreign country,  is indebted to a resident of the same foreign country, and the obligation is denominated in the official currency of that country. 
Form-Specifc Guidance:
Include sight and time deposit liabilities of foreign offices in the local currency to local residents.
Dimensions
Dimension Member Description
(NotAustralia)
This dimension categorises the reported information by the country of residence/location of the counterparty from whom the reporting party directly derives its return on investment in the financial asset and on whom the reporting party has the primary claim when liquidating the asset.  Residence/location is determined by where the entity is permanently located, physically and/or by way of law or registration, inside or outside a country's borders.  Foreign branches or subsidiaries are classified as residents of the country in which they operate.
The country is not Australia.
(CentralBankPlusSupranationalMonetaryAuthorities)
This dimension categorises the reported information in accordance with the type of counterparty the entity has transacted with.
The counterparty in relation to the information is a Central Bank, being a public financial entity that has the responsibility for monetary policy, issuing currency and/or holding a country's international reserves. This includes supranational monetary authorities such as the Bank for International Settlements (BIS) and the European Central Bank (ECB).