The Treasury

Global Navigation

Personal tools

Note 15: Marketable securities, deposits and derivatives in gain

Forecast
30 June 2012 		Actual
Budget 11
$m 		Budget 12
$m 		30 June
2012
$m 		30 June
2011
$m

By type

 
36,065 34,716 Marketable securities 38,682 39,214
2,047 1,888 Long term deposits 2,422 2,259
2,394 4,989 Derivatives in gain 5,032 5,415
2,528 2,228 IMF financial assets 2,249 2,168
43,034 43,821 Total marketable securities, deposits and derivatives in gain 48,385 49,056

By maturity

 
31,184 30,718 Expected to be realised within one year 34,451 36,448
11,850 13,103 Expected to be held for more than one year 13,934 12,608
43,034 43,821 Total marketable securities, deposits and derivatives in gain 48,385 49,056

By source

 
32,356 33,069 Core Crown 37,330 39,686
16,847 18,122 Crown entities 18,713 16,939
2,811 2,684 State-owned enterprises 2,607 2,651
(8,980) (10,054) Inter-segment eliminations (10,265) (10,220)
43,034 43,821 Total marketable securities, deposits and derivatives in gain 48,385 49,056

Marketable securities comprise bonds, commercial paper, debentures and similar tradable financial assets held by the Government for the purposes of realising capital gains or interest revenue. Marketable securities and derivatives in gain are reported at their fair value. Fair value is either based on quoted market price or using a valuation model if there is no active market. The valuation models used generally calculate the expected cash flows under the terms of each specific contract and then discounts these values back to present value.

Long-term deposits are instruments with maturities greater than three months that are not traded in an active market. Long-term deposits are measured at amortised cost. Their carrying amount provides a reasonable approximation of their fair value.

Further information on the management of risks associated with these financial assets is provided in note 33.

Page top