PET - Plain English Taxonomy

Attribute:	CS22650
Concept:	Off Balance Sheet Credit Derivatives Sold Protection Amount
Label:	Direct Credit Substitutes - Derivatives
Concept Guidance:	This is the value, as at the relevant date, for off balance sheet credit derivatives where protection is sold. This is where the reporting entity assumes the credit risk by selling protection to a third party. Upon this party calling on this protection the reporting entity is obliged to pay cash and provide for a claim to receive a financial asset.

Dimensions

Dimension	Member	Description
BalanceTypeDimension	(NotionalPrincipalAmount)	This dimension identifies the measurement scenario under which the reported value was calculated. The value reported is the notional principal amount. The notional principal amount represents the face value, or gross amount, of an off-balance sheet transaction.This does not represent the fair value.
CounterpartyTypeDimension	(Grade1Government)	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 categorised as grade 1 government, in accordance with relevant prudential standards. This category applies to assets guaranteed by the Commonwealth Government and assets guaranteed by foreign governments that have a counterparty grade of 1 and are denominated in the official or national currency of the guarantor.
DerivativeTypeDimension	(CreditDerivatives)	This dimension identifies what the derivative entitles you to do or obliges you to provide. A credit derivative enables the user to transfer the credit risk of an underlying asset from one party, the protection buyer, to another, the protection seller, in isolation from other risks.