Commonwealth Consolidated Regulations

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Details to be included in periodic statements for margin lending facilities

                   For paragraph 1017D(5)(g) of the Act, a periodic statement for a holder of a financial product must include the following details about the margin lending facility:

                     (a)  the outstanding loan amount;

                     (b)  the loan credit limit;

                     (c)  the current interest rate, and any changes to the interest rate since the last statement was provided;

                     (d)  an itemised list of the property by which the credit is secured, including:

                              (i)  the value of each item used for calculating the current LVR; and

                             (ii)  the loan to value ratio (if any) of each property item listed;

                     (e)  a summary of the loan to security ratios, showing separately:

                              (i)  the allowable loan to security ratio; and

                             (ii)  the maximum loan to security ratio, including any buffer allowed under the terms of the facility; and

                            (iii)  the current LVR;

                      (f)  a summary of all transactions affecting the margin lending facility during the reporting period.

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