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Schedule of Assets and Liabilities

as at 30 June 2011

Schedule of Assets and Liabilities
2010
Carrying Value
$m		 2010
Fair Value
$m		   2011
Carrying Value
$m		 2011
Fair Value
$m
   

Assets

    
   

Cash, cash equivalents and receivables

    
6,988 6,988 Crown settlement account 13,060 13,060
16 16 Crown trust account 38 38
1,133 1,133 Foreign cash and cash equivalents 1,461 1,461
- - Debtors and receivables 536 536
   

Advances

    
2,727 2,727 RBNZ 2,438 2,438
1,494 1,494 Crown Health Financing Agency 1,750 1,750
1,835 1,835 Housing New Zealand 1,859 1,859
448 448 New Zealand Railways Corporation 505 505
- - New Zealand Transport Agency 110 110
- - Other Crown 4 4
86 88 Non-Crown 151 153
   

Financial assets

    
4,097 4,097 Marketable securities 3,242 3,242
467 467 External deposits 115 115
1,607 1,607 Derivatives in gain 2,489 2,489
2,199 2,199 IMF financial assets 2,168 2,168
23,097 23,099 Total Assets 29,926 29,928
   

Liabilities

    
   

Overdrafts and payables

    
3,463 3,463 Crown disbursement account[9] 3,823 3,823
66 66 Creditors and payables 127 127
   

Financial liabilities

    
7,823 7,825 Treasury bills - market 7,209 7,215
174 174 Treasury bills - non-market 50 50
30,705 31,727 Government bonds - market[10] 50,755 52,544
6,580 6,897 Government bonds - non-market 6,363 6,699
1,588 1,800 Inflation-indexed bonds - market 1,633 1,900
476 538 Inflation-indexed bonds - non-market 491 568
309 309 Kiwi bonds 261 262
- - Euro-commercial paper 180 180
809 809 Foreign currency debt 587 587
981 981 Collateral 1,417 1,417
860 860 Derivatives in loss 1,312 1,312
307 307 Departmental deposits 210 210
1,820 1,820 IMF allocation 1,648 1,648
92 92 Immigration investor policy bonds 87 87
1 2 Other 1 1
56,054 57,670 Total Liabilities 76,154 78,630
(32,957) (34,571) Net Assets/(Liabilities) (46,228) (48,702)

Notes

  • [9]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.
  • [10]Government bonds - market includes $395 million of infrastructure bonds at June 2011 (June 2010: $395 million).
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