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Note 13: Marketable Securities, Deposits and Derivatives in Gain

2017 Forecast Actual
Budget
2016
$m
Budget
2017
$m
30 June
2017
$m
30 June
2016
$m

By type

 
43,357 40,981 Marketable securities 39,558 40,822
4,875 3,287 Long term deposits 4,730 4,791
2,758 4,696 Derivatives in gain 4,381 5,888
2,299 1,806 IMF financial assets 1,837 1,897
53,289 50,770 Total marketable securities, deposits and derivatives in gain 50,506 53,398

Expected Realisation

 
35,899 33,348 Expected to be realised within one year 29,080 31,992
17,390 17,422 Expected to be held for more than one year 21,426 21,406
53,289 50,770 Total marketable securities, deposits and derivatives in gain 50,506 53,398

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. Long-term deposits are instruments with maturities greater than three months that are not traded in an active market.

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 discount these values back to present value.

Long-term deposits are measured at amortised cost.  Their carrying amount provides a reasonable approximation of their fair value.

Further information is provided on these financial assets in note 26.

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