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Schedule of Assets and Liabilities

as at 30 June 2014

Schedule of Assets and Liabilities
2013
Carrying
Value
$m
2013
Fair
Value
$m
  2014
Carrying
Value
$m
2014
Fair
Value
$m
    Assets    
    Cash, cash equivalents and receivables    
4,585 4,585 Crown settlement account 3,414 3,414
80 80 Crown trust account 115 115
714 714 Foreign cash and cash equivalents 1,069 1,069
Debtors and receivables
    Advances    
1,859 1,859 RBNZ 1,636 1,636
2,216 2,216 Ministry of Health 2,228 2,228
1,861 1,861 Housing New Zealand 1,887 1,887
182 182 New Zealand Railways Corporation 179 179
100 100 New Zealand Transport Agency 100 100
3 3 Other Crown 3 3
222 224 Non-Crown 382 384
    Financial assets    
2,401 2,401 Marketable securities 3,871 3,871
99 99 External deposits 64 64
1,184 1,184 Derivatives in gain 1,270 1,270
2,291 2,291 IMF financial assets 2,142 2,142
17,797 17,799 Total assets 18,360 18,362
    Liabilities    
    Overdrafts and payables    
5,086 5,086 Crown disbursement account[13] 5,174 5,174
107 107 Creditors and payables 136 136
    Financial liabilities    
4,118 4,119 Treasury bills - market 3,192 3,189
579 579 Treasury bills - non-market 579 579
58,963 61,403 Government bonds - market 59,080 60,099
3,384 3,655 Government bonds - non-market 3,238 3,387
5,308 5,376 Inflation-indexed bonds - market 10,404 10,354
650 662 Inflation-indexed bonds - non-market 970 961
199 199 Kiwi bonds 183 182
- - Euro-commercial paper
130 130 Foreign currency debt 109 109
702 702 Collateral 887 887
672 672 Derivatives in loss 638 638
85 85 Departmental deposits 75 75
1,651 1,651 IMF allocation 1,506 1,506
7 7 Immigration investor policy bonds - -
30 30 Other 115 115
81,671 84,463 Total liabilities 86,286 87,391
(63,874) (66,664) Net assets/(liabilities) (67,926) (69,029)

Notes

  • [13]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.
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