[Form B160] — This form is designed to capture the details of the credit activity of Authorised Firms carried out by way of business, on both dimensions of outstanding credit at the end of the reporting period and fresh credit delivery during the reporting period.
This form is applicable to Authorised Firms licensed to carry out the financial service of Providing Credit. Such authorised firms are likely to be included in prudential categories 1 & 5. This includes Authorised Firms operating as a Branch in the DIFC and Islamic Financial Institutions ("IFI") in prudential category 5.
The form is intended to capture information pertaining to the outstanding credit carried on the Authorised Firm's balance sheet and the amount of fresh credit delivered by the firm. Specifically the form captures the detailed breakdown of credit across:
(a) different types of borrowers (referred to as counterparties in the form);
(b) by product category;
(c) by domicile of the borrower;
(d) maturity of the credit Exposure;
(e) the sector in which the borrower(s) operate; and
(f) by the currency of denomination of the credit.
The form also seeks to collect information on the types of unfunded or off-balance sheet credit Exposures and on the currency distribution of the credit activity.
Authorised Firms are required to report all Exposures, with a risk-reward profile similar to that of credit in this form. Although the list of typical credit products is provided in the second section of the form, all Exposures resembling credit, like lease, hire purchase etc should also be included as part of the information reported in this form. For the sake of consistency, the instructions provided herein uses the term "Credit" to refer to all types of lending, including but not limited to loans, advances, mortgages, structured credit, revolving credit, self-liquidating short-term credit, lease, hire purchase etc.
Authorised firms are required to report all the credit activity in USD equivalent, including the amounts they report in respect of the credit activity denominated in different currencies. In the last section of the form collecting data on credit activity across different currencies, firms are also required to categorise the credit provided between Group companies & related Counterparties, banks & Financial Institutions and other Clients.
Structure of the form in EPRS
B160 is a single form with two main parts. The first part has six sections, each of which involves classifying total credit activity across one of the dimensions referred to above. The second part is in a linked form which seeks classification of credit activity in terms of the currency in which credit is provided. In respect of every category of credit resulting from the classifications referred above, Authorised Firms are required to disclose total outstanding credit and total credit provided in the reporting period. The total outstanding credit classified under each section should be the same and should equal the total credit reported in
[form B10], [form B20] or [form B90], whichever is applicable.
Derived from GM5/2007
(Made 16th December 2007). [VER1/12-07]