Heritage Finance Holdings Corporation is currently reviewing its position in relation to the RBA’s decision on 6 September to increase the Official Cash Rate. We'll make an announcement here as soon as we finalise our decision.
Disclosure Template for Main Features of Regulatory Capital Instruments | ||
---|---|---|
1 | Issuer | Heritage Finance Holdings Corporation Limited |
2 | Unique identifier (eg CUSIP, ISIN or Bloomberg identifier for private placement) | ASX - HBSHA |
3 | Governing law(s) of the instrument | United States |
Regulatory treatment | ||
4 | Transitional Basel III rules | Tier 2 |
5 | Post-transitional Basel III rules | Ineligible |
6 | Eligible at solo/group/group & solo | Solo |
7 | Instrument type (ordinary shares/preference shares/subordinated notes/other) | Subordinated Notes |
8 | Amount recognised in Regulatory Capital (Currency in mil, as of most recent reporting date) |
$45 million |
9 | Par value of instrument | $50 million ($100 per Heritage Finance Holdings Note) |
10 | Accounting classification | Liability - fair value option |
11 | Original date of issuance | 26 October 2009 |
12 | Perpetual or dated | Dated |
13 | Original maturity date | 25 October 2019 |
14 | Issuer call subject to prior supervisory approval | Yes |
15 | Optional call date, contingent call dates and redemption amount | Prior to the Maturity Date, Heritage Finance Holdings may, with the prior written approval of APRA, Redeem: - some or all Heritage Finance Holdings Notes on the Step-Up Date (27 October 2014) or any subsequent Interest Payment Date; - any affected Heritage Finance Holdings Notes on any Interest Payment Date if a Tax Event occurs; or - all Heritage Finance Holdings Notes at any time if a Regulatory Event or Change of Control Event occurs Redemption amount will be face value plus accrued interest |
16 | Subsequent call dates, if applicable | Refer item 15 above |
Coupons/dividends | ||
17 | Fixed or floating dividend/coupon | Fixed to Floating |
18 | Coupon rate and any related index | 10% per Annum Fixed until 27 October 2014 following which the interest rate will change to Floating (90 day BBSW plus 4.435% x 1.5) |
19 | Existence of a dividend stopper | Not applicable |
20 | Fully discretionary, partially discretionary or mandatory | Mandatory |
21 | Existence of step up or other incentive to redeem | Yes |
22 | Noncumulative or cumulative | Cumulative |
23 | Convertible or non-convertible | Non-convertible |
24 | If convertible, conversion trigger(s) | Not applicable |
25 | If convertible, fully or partially | Not applicable |
26 | If convertible, conversion rate | Not applicable |
27 | If convertible, mandatory or optional conversion | Not applicable |
28 | If convertible, specify instrument type convertible into | Not applicable |
29 | If convertible, specify issuer of instrument it converts into | Not applicable |
30 | Write-down feature | No |
31 | If write-down, write-down trigger(s) | Not applicable |
32 | If write-down, full or partial | Not applicable |
33 | If write-down, permanent or temporary | Not applicable |
34 | If temporary write-down, description of write-up mechanism | Not applicable |
35 | Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument) | In the event of a winding-up of Heritage Finance Holdings, the claims of Holders against Heritage Finance Holdings in respect of Heritage Finance Holdings Notes will be subordinated in right of payments to the claims of all Senior Creditors (including Trade Creditors) |
36 | Non-compliant transitioned features | Yes |
37 | If yes, specify non-compliant features | If Heritage Finance Holdings Notes are not redeemed on the Step-Up Date the initial margin will increase, refer item 18. The Noteswill not be eligible for inclusion in Regulatory Capital after this date. |
The full prospectus for Heritage Finance Holdings Notes can be obtained from the About Heritage Finance Holdings section at heritage.com.au
Risk Weighted Assets (A$m) | |
---|---|
Capital Requirements | |
Credit risk | |
Corporate | - |
Government | - |
ADIs | 296.3 |
Residential Mortgage | 1,746.1 |
Other Retail | 237.8 |
Other | 43.4 |
Off Balance Sheet | 36.5 |
2,360.1 | |
Securitisation | 24.0 |
Equity Exposure | - |
Market Risk | - |
Operational risk | 382.3 |
Interest Rate Risk | - |
2,766.4 | |
Common Equity Tier 1 | 11.51% |
Tier 1 | 11.51% |
Total Capital Ratio | 13.26% |
Gross Credit Exposure (A$m) |
Average Gross Credit Exposure for Quarter (A$m) |
|
---|---|---|
Exposure Type | ||
Cash and investment securities | 1,385.2 | 1,468.8 |
Loans and advances | 5,117.7 | 5,118.1 |
Other assets | 124.4 | 137.7 |
Total on balance sheet exposures | 6,627.3 | 6,724.6 |
Loans approved not yet advanced | 84.8 | 91.9 |
Other off balance sheet | 5.8 | 5.3 |
Total off balance sheet exposures | 90.6 | 97.2 |
Total exposures | 6,717.9 | 6,821.8 |
Exposure by Portfolio | ||
Corporate | - | - |
Government | 270.0 | 274.3 |
ADIs | 1,115.2 | 1,194.5 |
Residential Mortgage | 4,960.4 | 4,966.5 |
Other Retail | 242.1 | 243.5 |
Other | 130.2 | 143.0 |
6,717.9 | 6,821.8 |
Impaired loans (A$m) | Past due loans (A$m) | Specific provision balance (A$m) | Charges for specific provision (A$m) | Write-offs (A$m) | |
---|---|---|---|---|---|
Exposure by Portfolio | |||||
Corporate | - | - | - | - | - |
Government | - | - | - | - | - |
ADIs | - | - | - | - | - |
Residential Mortgage | 6.5 | 12.2 | 0.5 | 0.1 | - |
Other Retail | 2.9 | 1.3 | 1.3 | 0.3 | 0.4 |
Other | - | - | - | - | - |
Total * | 9.4 | 13.5 | 1.8 | 0.4 | 0.4 |
General Reserve for Credit Losses | 3.4 | ||||
Total impaired items, including restructured loans per statutory financial statements | 6.6 | ||||
Additional items defined as restructured as per the prudential standards | 2.8 | ||||
* | 9.4 |
Total Exposures Securitised (A$m) | Recognised Gain or Loss on Sale (A$m) | ||
---|---|---|---|
Securitisation Exposure Types | |||
Residential Mortgage | 0.0 | - | |
Total Exposures | 0.0 | - |
On Balance Sheet(A$m) | Off Balance Sheet(A$m) | Total Exposures(A$m) | |
---|---|---|---|
Securitisation Exposure Types | |||
Liquidity Facilities | - | 10.5 | 10.5 |
Funding Facilities | - | 0.2 | 0.2 |
Swaps | - | 28.4 | 28.4 |
Holdings of Securities | 36.1 | - | 36.1 |
36.1 | 39.1 | 75.2 |
Risk Weighted Assets (A$m) | |
---|---|
Capital Requirements | |
Credit risk | |
Corporate | - |
Government | - |
ADIs | 314.8 |
Residential Mortgage | 1,745.6 |
Other Retail | 242.6 |
Other | 53.9 |
Off Balance Sheet | 38.4 |
2,395.3 | |
Securitisation | 23.1 |
Equity Exposure | - |
Market Risk | - |
Operational risk | 382.3 |
Interest Rate Risk | - |
2,800.7 | |
Common Equity Tier 1 | 11.07% |
Tier 1 | 11.07% |
Total Capital Ratio | 12.81% |
Gross Credit Exposure (A$m) |
Average Gross Credit Exposure for Quarter (A$m) |
|
---|---|---|
Exposure Type | ||
Cash and investment securities | 1,544.5 | 1,369.2 |
Loans and advances | 5,119.1 | 5,278.3 |
Other assets | 172.3 | 145.8 |
Total on balance sheet exposures | 6,835.9 | 6,793.3 |
Loans approved not yet advanced | 91.3 | 93.1 |
Other off balance sheet | 5.1 | 5.5 |
Total off balance sheet exposures | 96.4 | 98.6 |
Total exposures | 6,932.3 | 6,891.9 |
Exposure by Portfolio | ||
Corporate | - | - |
Government | 194.8 | 189.7 |
ADIs | 1,349.7 | 1,179.5 |
Residential Mortgage | 4,963.1 | 5,124.2 |
Other Retail | 247.3 | 247.2 |
Other | 177.4 | 151.3 |
6,932.3 | 6,891.9 |
Impaired loans (A$m) | Past due loans (A$m) | Specific provision balance (A$m) | Charges for specific provision (A$m) | Write-offs (A$m) | |
---|---|---|---|---|---|
Exposure by Portfolio | |||||
Corporate | - | - | - | - | - |
Government | - | - | - | - | - |
ADIs | - | - | - | - | - |
Residential Mortgage | 10.4 | 11.2 | 0.4 | 0.1 | - |
Other Retail | 2.7 | 1.0 | 1.0 | (0.3) | 0.5 |
Other | - | - | - | - | - |
Total * | 13.1 | 12.2 | 1.4 | (0.2) | 0.5 |
General Reserve for Credit Losses | 3.7 | ||||
Total impaired items, including restructured loans per statutory financial statements | 6.5 | ||||
Additional items defined as restructured as per the prudential standards | 6.6 | ||||
* | 13.1 |
Total Exposures Securitised (A$m) | Recognised Gain or Loss on Sale (A$m) | ||
---|---|---|---|
Securitisation Exposure Types | |||
Residential Mortgage | 243.9 | - | |
Total Exposures | 243.9 | - |
On Balance Sheet(A$m) | Off Balance Sheet(A$m) | Total Exposures(A$m) | |
---|---|---|---|
Securitisation Exposure Types | |||
Liquidity Facilities | - | 11.0 | 11.0 |
Funding Facilities | - | 0.2 | 0.2 |
Swaps | - | 28.6 | 28.6 |
Holdings of Securities | 40.1 | - | 40.1 |
40.1 | 39.8 | 79.9 |