PET - Plain English Taxonomy

Attribute: CS02414
Concept:
Label: Foreign Exchange Derivative Contracts - WrittenOptionPositions
Concept Guidance:
This is the value, as at the relevant date, of written (sold) foreign exchange and gold options, consistent with the classification and measurement basis used for derivatives by institutions in accordance with accounting standards.A written (sold) option includes both put and call options that have been sold by an entity. It provides the selling entity with the obligation to buy or sell a specific amount of an underlying asset at a pre-agreed price, on or before a specific future date.A foreign exchange contract is any contract that transfers the exchange rate risk of an underlying asset from one party to another.A gold contract is any contract that transfers the gold price risk associated with an underlying asset from one party to another.Derivatives are generally defined as those instruments/contracts, where the value is based on other products, and/or on prices associated with financial products. Derivative contracts involve:- Future delivery, receipt or exchange of financial items such as cash or another derivative instrument; or- Future exchange of real assets for financial items where the contract may be tradeable and has a market value.The contracts can either be binding on both parties (e.g. as with a currency swap) or subject to the exercise by one party of a right contained within the contract (as with options).Report this item regardless of whether favourable or unfavourable to the reporting entity. 
Form-Specifc Guidance:
While not intended as an exhaustive list, Foreign Exchange derivative contracts and Gold derivative contracts may include the following:
- cross currency swaps (including cross currency interest rate swaps);
- forward foreign exchange contracts;
- currency futures;
- currency options purchased;
- hedge contracts; and
- any other instruments of a similar nature.

Outstanding spot transactions should be treated as forward foreign exchange contracts.

Netting should not be applied when reporting amounts within the Statement of Derivative Activity.
Dimensions
Dimension Member Description
(BankingBook)
This dimension categorises an Authorised Deposit-taking Institution's holdings of financial instruments based on the 'book type' ('Banking Book' or 'Trading Book') to which the instrument belongs, as determined in accordance with relevant prudential standards.
The information reported relates to an Authorised Deposit-taking Institution's holdings of financial instruments in the banking book, as agreed with APRA.
(NotionalPrincipalAmount)
This dimension categorises the reported data according to 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.
(NotRecognisedExchange)
This dimension categorises the reported data according to the channel or medium through which investments are made.
These are investments that are not made through a recognised exchange for the products being transacted. These are typically referred to as "Unlisted" or "Over The Counter (OTC)" investments.