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Schedule of Assets and Liabilities

as at 30 June 2012

Schedule of Assets and Liabilities
2011
Carrying Value
$m		 2011
Fair Value
$m		 2012
Carrying Value
$m		 2012
Fair Value
$m

Assets

Cash, cash equivalents and receivables
13,060 13,060 Crown settlement account 9,060 9,060
38 38 Crown trust account 33 33
1,461 1,461 Foreign cash and cash equivalents 977 977
536 536 Debtors and receivables 233 233

Advances
2,438 2,438 RBNZ 2,158 2,158
1,750 1,750 Crown Health Financing Agency 2,202 2,202
1,859 1,859 Housing New Zealand 1,861 1,861
505 505 New Zealand Railways Corporation 510 510
110 110 New Zealand Transport Agency 130 130
4 4 Other Crown 4 4
151 153 Non-Crown 125 128

Financial assets
3,242 3,242 Marketable securities 4,708 4,708
115 115 External deposits 130 130
2,489 2,489 Derivatives in gain 1,682 1,682
2,168 2,168 IMF financial assets 2,249 2,249
29,926 29,928 Total Assets 26,062 26,065

Liabilities

Overdrafts and payables
3,823 3,823 Crown disbursement account[6] 4,418 4,418
127 127 Creditors and payables 283 283

Financial liabilities
7,209 7,215 Treasury bills - market 9,516 9,520
50 50 Treasury bills - non-market 479 479
50,755 52,544 Government bonds - market[7] 57,925 63,088
6,363 6,699 Government bonds - non-market 4,424 4,917
1,633 1,900 Inflation-indexed bonds - market 1,631 1,941
491 568 Inflation-indexed bonds - non-market 316 375
261 262 Kiwi bonds 229 231
180 180 Euro-commercial paper - -
587 587 Foreign currency debt 307 307
1,417 1,417 Collateral 1,067 1,067
1,312 1,312 Derivatives in loss 638 638
210 210 Departmental deposits 155 155
1,648 1,648 IMF allocation 1,638 1,638
87 87 Immigration investor policy bonds 52 52
1 1 Other 42 42
76,154 78,630 Total Liabilities 83,120 89,151
(46,228) (48,702) Net Assets/(Liabilities) (57,058) (63,086)

Notes

  • [6]During 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 process ensures that there are 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.
  • [7]Government bonds - market includes $395 million of infrastructure bonds at June 2012 (June 2011: $395 million).
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