LON_TYP_ENUM#
ID |
NAME |
DESCRIPTION |
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Reset |
Reset value |
CRD |
Credit-card loan |
Credit granted via delayed debit cards, i.e. cards providing convenience credit, or via credit cards, i.e. cards providing convenience credit and extended credit. Convenience credit is the credit granted at a zero percent interest rate in the period between the payment transactions made with the card during one billing cycle and the date at which the debit balances from this specific billing cycle become due. Extended credit it credit granted after the due dates of the previous billing cylces have passed, i.e. debit amounts on the card account that have not been settled when this was first possible, for which an interest rate or tiered interest rates usually greater than zero percent are charged. |
OVR |
Overdraft |
Where a deposit account has an overdraft facility and subsequently becomes overdrawn, the withdrawal to zero is the withdrawal of a deposit (recorded in the DEPOSIT relevant tables) and the amount of overdraft is recorded in the LOAN relevant tables. |
REV |
Revolving loans |
Revolving loans are loans, excluding overdrafts and credit card debt, obtained through a line of credit and not yet repaid, where funds can be repeatedly repaid and drawn again (whether in one amount or in installments) up to an agreed contractual credit limit. Revolving loans have the following features:
A margin account in which the broker-dealer lends the investor cash to purchase securities is a revolving loan. |
FLS |
Financial leases |
Financial leases are defined in Regulation ECB/2013/33 as contracts under which the legal owner of a durable good (lessor) lends it to a third party (lessee) for most if not all of its economic life, in exchange for instalments covering the cost of the good and an imputed interest charge. The lessee, as the economic owner, enjoys all the benefits from the use of the good and incurs the costs and risks of ownership. In addition it is the lessee, as the economic owner, that must provide any necessary repair and maintenance of the good. For statistical purposes, financial leases are treated as loans from the lessor to the lessee, with payments treated as loan repayments rather than rentals on the asset. The durable goods which are the subject of the lease are recorded on the balance sheet of the lessee (and valued at the purchase price paid by the lessor). Hire-purchase agreements are considered a type of financial lease. |
NOS |
Non-negotiable securities |
Holdings of debt securities which are not negotiable and cannot be traded on secondary markets are recorded as loans. These are instruments where the transfer of legal ownership is subject to restrictions which imply that they cannot be marketed or, although they are technically negotiable, cannot be traded owing to the absence of an organised market. Non-negotiable instruments that subsequently become negotiable and can be traded on secondary markets should be reclassified as debt securities. |
TRD |
Traded loans |
Loans that have de facto become negotiable are called traded loans. Where there is no evidence of secondary market trading in the traded loans, they are classified as loans. Otherwise, they are classified as debt securities. |
SUB |
Subordinated debt in the form of loans |
These are non-negotiable instruments constituting a subsidiary claim on the issuer that can be exercised only after all higher-status claims (i.e. deposits, loans) have been satisfied, giving them some of the characteristics of equity. Subordinated debt is classified as either “loans” or “debt securities” according to the nature and characteristics of the financial instrument. |
INT |
Intragroup loans |
For subsidiaries, financing via inter-company or funding can be classified either as inter-company lending or as capital endowments (equity) in a subsidiary. As with subordinated debt, positions should be classified according to the criteria of loan and equity instruments. |
RFC |
Recource factoring |
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NFC |
Non-recource factoring |
Factoring refers to a transaction whereby a financial institution, known as a factoring company, purchases accounts receivable (i.e. invoices) from a third party. Specifically, it is the sale of a firm’s (the factoring client’s) claims (in full or in part) recorded under accounts receivable (in the form of invoices), representing money due from its customers, to a factoring company. The factoring company buys the receivables at a price which is lower than the face value of the invoice, thereby effectively charging the applicable fees and interest. The factoring company manages the sales ledger and the collection of the accounts under the terms agreed by the factoring client (firm). The customers send their payments directly to the factoring company. Finance is therefore extended for the duration of the trade debt. In non-recourse factoring the full risk of default by the customer is assumed by the factoring company and fees and interest are therefore charged immediately to the factoring client, who receives the full amount of the trade credit net of these charges. In this case the customers are the counterparty of the loan by the factoring company. |
LVG |
Leveraged loan |
Leveraged loan is a syndicated loan extended to a corporation with low credit quality. |
OTH |
Other loan |
Loan other than CRD, OVR, REV, FLS, NOS, TRD, SUB, INT, RFC, NFC, LVG. |