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Schedule of Assets and Liabilities

as at 30 June 2010

Schedule of Assets and Liabilities
2009   2010
Carrying Value
$m
Fair Value
$m
  Carrying Value
$m
Fair Value
$m
   

Assets

   
    Cash, cash equivalents and receivables    
8,320 8,320 Crown settlement account 6,988 6,988
- - Crown trust account 16 16
1,105 1,105 Foreign cash and cash equivalents 1,133 1,133
396 396 Debtors and receivables - -
    Advances    
3,170 3,170 RBNZ 2,727 2,727
1,401 1,401 Crown Financing Agency 1,494 1,494
1,813 1,813 Housing New Zealand 1,835 1,835
399 399 New Zealand Railways Corporation 448 448
65 65 Non-Crown 86 88
    Financial assets    
3,424 3,424 Marketable securities 4,097 4,097
442 442 External deposits 467 467
1,842 1,842 Derivatives in gain 1,607 1,607
454 454 IMF financial assets[16] 2,199 2,199
22,831 22,831 Total Assets 23,097 23,099
   

Liabilities

   
    Overdrafts and payables    
3,609 3,609 Crown disbursement account[17] 3,463 3,463
5 5 Creditors and payables 66 66
    Financial liabilities    
7,442 7,442 Treasury bills - market 7,823 7,825
5 5 Treasury bills - non-market 174 174
22,486 22,871 Government bonds - market[18] 30,705 31,727
7,144 7,349 Government bonds - non-market 6,580 6,897
1,552 1,707 Inflation-indexed bonds - market 1,588 1,800
466 510 Inflation-indexed bonds - non-market 476 538
491 494 Kiwi bonds 309 309
153 153 Euro-commercial paper - -
840 840 Foreign currency debt 809 809
889 889 Collateral 981 981
1,333 1,333 Derivatives in loss 860 860
117 117 Departmental deposits 307 307
336 336 IMF allocation[16] 1,820 1,820
96 96 Immigration investor policy bonds 92 92
2 2 Other 1 2
46,966 47,758 Total Liabilities 56,054 57,670
(24,135) (24,927) Net Assets/(Liabilities) (32,957) (34,571)

Notes

  • [16]During 2009/10 the IMF, in response to the global financial crisis, allocated additional reserve assets to member countries to provide liquidity to the global economic system. A general allocation (August 2009) increased reserve assets held by NZDMO and also the associated IMF allocation liability.
  • [17]At the end of each banking day, the net balance of all departmental and Crown bank accounts held at Westpac is swept between the Westpac Crown Disbursement account and the RBNZ Crown Settlement account. This daily sweep ensures that there is no end of day net exposures between the Crown and Westpac. Therefore, the Disbursement account balance effectively offsets the balances of departmental and Crown accounts at Westpac.
  • [18]Government bonds - market includes $395 million of infrastructure bonds at June 2010 (June 2009: $395 million).
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