BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Non-consolidated Financial Statements
For the year ended March 31, 2013
(Expressed in Barbados dollars)
44
24. Financial Risk Management…(continued)
Market risk…(continued)
Interest rate risk
…(continued)
A summary of the Credit Union’s interest rate gap position is as follows:
2013
Up to
Within
Within
Over
Non-inte
3 months 3-12 months
1-5 years
5 years
bea
Cash resources
$
45,860,776
62,430,614
1,949,030
-
Financial investments - Held to maturity
-
1,268,955
10,459,000
4,650,000
Loans and advances
12,550,422
20,302,715 191,512,204 427,502,609
Due from related companies
-
-
-
-
13,034,
Other assets
-
-
-
- 2,933,
Total assets
$ 58,411,198 84,002,284 203,920,234 432,152,609 15,968,
Deposits
$ 433,022,008
45,009,357
171,811,516
22,560,464
Loans payable
1,090,830
3,337,039
19,921,280
31,083,225
Reimbursable shares
-
-
-
-
5,726,
Other liabilities
-
-
-
- 4,215,
Total liabilities
434,112,838 48,346,396 191,732,796 53,643,689 9,941,
Interest rate gap
$ (375,701,640) 35,655,888 12,187,438 378,508,920 6,026,
24. Financial Risk Management…(continued)
Market risk…(continued)
Interest rate risk
…
(continued)
A summary of the Credit Unio ’s interest rate gap position is a follows:
2013
Up to
Within
Within
Over Non-interest
3 months 3-12 months 1-5 years
5 years
bearing
Total
Cash resources
$ 45,860,776 62,430,614 1,949,030
-
- 110,240,420
Financial investments -
Held to maturity
-
1,268,955 10,459,000 4,650,000
- 16,377,955
Loans and advances
12,550,422 20,302,715 191,512,204 427,502,609
- 651,867,950
Due from related companies
-
-
-
- 13,034,575 13,034,575
Other assets
- - - - 2,933,768 2,933,768
Total assets
$ 58,411,198 84,002,284 203,920,234 432,152,609 15,968,343 794,454,668
Deposits
$ 433,022,008 45,009,357 171,811,516
22,560,464
- 672,403,345
Loans payable
1,090,830 3,337,039 19,921,280 31,083,225
- 55,432,374
Reimbursable shares
-
-
-
-
5,726,048 5,726,048
Other liabilities
- - - - 4,215,566 4,215,566
Total liabilities
$ 434,112,838 48,346,396 191,732,796 53,643,689 9,941,614 737,777,333
Interest rate gap
$ (375,701,640) 35,655,888 12,187,438 378,508,920 6,026,729 56,677,335
53
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
ANNUAL REPORT 2013
