Macau EconoMy 2
1 BalancE shEEt ...............................................................................................................................................................................3
2 Profit and loss account 6
3 list of thE sharEholdErs with qualifying holdings 9
4 naMEs of thE MEMBErs of thE coMPany’s Board .................................................................................................................................................11
5 cash flow statEMEnt 13
6 off-BalancE-shEEt ExPosurEs othEr than dErivativEs transactions 15
7 dErivativEs transactions 17
8 rElatEd Party transactions 19
9 caPital 21
10 crEdit risk 23
11 MarkEt risk ..........................................................................................................................................................................................................27
12 intErEst ratE risk in thE Banking Book 29
13 forEign ExchangE risk 31
14 liquidity risk 33
first half of 2014 unaudited accounts.
1. BalancE shEEt 4
assEts gross assEts Provisions, aMortiZations and nEt valuE
nEt assEts
cash 1,356,237,281.52 0.00 1,356,237,281.52
dEPosits with aMcM 452,336,641.10 0.00 452,336,641.10
cErtificatEs of indEBtEdnEss issuEd By thE Macau govErnMEnt
5,404,067,871.29 0.00 5,404,067,871.29
accounts rEcEivaBlE 216,425,987.99 0.00 216,425,987.99
dEMand dEPosits with othEr crEdit institutions in Macau
238,993,946.33 0.00 238,993,946.33
dEMand dEPosits with othEr crEdit institutions aBroad
542,158,179.34 0.00 542,158,179.34
gold and silvEr 0.00 0.00 0.00
othEr currEnt assEts 2,311,854.84 0.00 2,311,854.84
crEdit grantEd 19,324,170,479.54 49,999,838.24 19,274,170,641.30
PlacEMEnts with crEdit institutions in Macau 3,427,225,000.00 0.00 3,427,225,000.00
dEPosits with crEdit institutions aBroad 17,764,136,544.98 0.00 17,764,136,544.98
sharEs, Bonds and Equity 837,280,454.30 0.00 837,280,454.30
invEstMEnt of assignEd funds 0.00 0.00 0.00
dEBtors 137,109,663.37 0.00 137,109,663.37
othEr PlacEMEnts 0.00 0.00 0.00
financial invEstMEnts 8,938,633.93 0.00 8,938,633.93
ProPErty 1,415,870,410.08 69,993,674.16 1,345,876,735.92
EquiPMEnt 123,753,159.37 89,341,450.23 34,411,709.14
dEfErrEd cost 58,021,984.28 37,719,769.69 20,302,214.59
start-uP ExPEnditurE 0.00 0.00 0.00
fixEd assEts in ProgrEss 0.00 0.00 0.00
othEr fixEd assEts 1,834,396.65 0.00 1,834,396.65
intErnal and adJustMEnt accounts 691,111,846.56 0.00 691,111,846.56
TOTAL 52,001,984,335.47 247,054,732.32 51,754,929,603.15
BALANCE SHEET AT 30 JUNE 2014
MoP
liaBilitiEs suB-total total
Bank notEs in circulation 5,450,555,980.00
currEnt dEPosits 16,129,022,771.43
dEPosits at call 0.00
tiME dEPosits 8,845,851,294.59 24,974,874,066.02
govErnMEnt dEPosits 13,745,413,329.54
aMounts duE to crEdit institutions in Macau 160,022,443.49
aMounts duE to othEr local EntitiEs 0.00
aMounts duE to crEdit institutions aBroad 1,036,128,441.80
assignEd funds 0.00
chEquEs and ordErs PayaBlE 2,468,819.65
crEditors 201,610,562.05
othEr liaBilitiEs 158,010,140.14 15,303,653,736.67
intErnal and adJustMEnt accounts 521,105,885.97
Provisions for risks 222,010,271.00
caPital 2,000,000,000.00
othEr rEsErvEs 3,075,478,635.87 5,075,478,635.87
nEt Profit Brought forward 0.00
nEt Profit for thE PEriod 207,251,027.62
TOTAL 51,754,929,603.15
BALANCE SHEET AT 30 JUNE 2014
MoP
1. BalancE shEEt 5
dEBit aMount
cost of crEdit oPErations 187,839,413.50
PErsonnEl costs 93,527,794.13
rEMunEration of Board of dirEctors and suPErvisory coMMittEE
4,272,732.00
salariEs and wagEs 76,961,391.16
BEnEfits 11,392,112.70
othErs 901,558.27
third Party suPPly 6,110,545.02
third Party sErvicEs 41,708,277.89
othEr Banking costs 89,235,140.80
taxation 527,652.18
costs of non-Banking oPErations 1,367,561.23
dEPrEciation allowancEs 21,085,385.28
Provision allowancEs 37,651,017.25
oPErating Profit 228,800,934.07
TOTAL 707,853,721.35
crEdit aMount
incoME froM crEdit oPErations 445,985,548.63
incoME froM Banking sErvicEs 182,961,120.48
incoME froM othEr Banking sErvicEs 30,162,689.31
incoME froM sEcuritiEs and Equity invEstMEnts
293,442.01
othEr Banking incoME 43,591,700.15
incoME froM non-Banking oPErations
4,859,220.77
oPErating loss 0.00
TOTAL 707,853,721.35
PROFIT AND LOSS ACCOUNT AT 30 JUNE 2014oPErating account
MoP
2. Profit and loss account 7
dEBit aMount
oPErating loss 0.00
lossEs rElatEd to PrEvious yEars 0.00
ExcEPtional lossEs 0.00
Profit tax Provision 26,674,615.00
Profit for thE PEriod 207,251,027.62
TOTAL 233,925,642.62
crEdit aMount
oPErating Profit 228,800,934.07
Profit rElatEd to PrEvious yEars 5,124,708.55
ExcEPtional Profits 0.00
Provisions usEd uP 0.00
loss for thE PEriod 0.00
TOTAL 233,925,642.62
chiEf accountant
Maria clara fong
PrEsidEnt of thE ExEcutivE coMMittEE
Pedro Manuel de oliveira cardoso
PROFIT AND LOSS ACCOUNT AT 30 JUNE 2014statEMEnt of Profit and loss
MoP
2. Profit and loss account 8
Banco nacional ultraMarino, s.a.
list of the shareholders with qualifying holdings
• Caixa Geral de Depósitos, S.A. 99.425 %
LIST OF THE SHAREHOLDERS wITH qUALIFyINg HOLDINgS
3. list of thE sharEholdErs with qualifying holdings 10
Board of thE gEnEral MEEting
Chairman Joaquim Jorge Perestrelo neto valente
ViCe-Chairman liu chak wan
Board of dirEctors
Chairman caixa gEral dE dEPÓsitos, s.a., Represented by
nuno Maria Pinto de Magalhães fernandes thomaz
ViCe-Chairman: Pedro Manuel de oliveira cardoso
members kan cheok kuan
Pedro Miguel canales Escudero until 30th June, 2014
Alberto Manuel Sarmento Azevedo Soares
Paul tse see fan
armando Mata dos santos from 28th March 2014
leandro rodrigues da graça silva from 5th June 2014
ExEcutivE coMMittEE
President Pedro Manuel de oliveira cardoso
members kan cheok kuan
Pedro Miguel canales Escudero until 30th June, 2014
leandro rodrigues da graça silva from 5th June 2014
solE suPErvisor chui sai cheong
coMPany’s sEcrEtary Maria de lurdes nunes Mendes da costa
BANCO NACIONAL ULTRAmARINO, S.A.names OF the members OF the COmPanY’s bOard
4. naMEs of thE MEMBErs of thE coMPany’s Board 12
5. cash flow statEMEnt 14
oPErating activitiEs aMount
Profit BEforE tax 233,925,643
adJustMEnts for:
dEPrEciation of ProPErtiEs and EquiPMEnt 21,085,385
Provision for douBtful loans and advancEs to custoMErs 32,526,309
intErEst incoME froM invEstMEnts in dEBt sEcuritiEs (7,293,507)
intErEst incoME (438,692,042)
intErEst ExPEnsE 187,839,414
dividEnd incoME froM unlistEd Equity invEstMEnts (136,356)
nEt gain on disPosal of ProPErtiEs and EquiPMEnt (23,433,949)
aMortisation of discounts / PrEMiuMs on dEBt sEcuritiEs, nEt 347,714
ExchangE adJustMEnts 6,103,412
oPErating cash flows BEforE MovEMEnts in working caPital 12,272,023
dEcrEasE in PlacEMEnts with Banks and othEr financial institutions with original Maturity MorE than thrEE Months 1,327,010,687
incrEasE in dEBt cErtificatEs issuEd By thE Macau govErnMEnt (429,290,873)
incrEasE in loans and advancEs to custoMErs (2,464,830,174)
incrEasE in othEr assEts (308,756,560)
dEcrEasE in dEPosits and BalancEs with Banks and othEr financial institutions (104,546,203)
dEcrEasE in dEPosits froM custoMErs (5,834,597,090)
incrEasE in Bank notEs in circulation 280,947,700
incrEasE in othEr liaBilitiEs 40,771,809
cash usEd in oPErations (7,481,018,681)
Macau coMPlEMEntary tax Paid -
intErEst rEcEivEd 438,269,332
intErEst Paid (144,138,160)
NET CASH uSEd iN OPERATiNG ACTiViTiES (7,186,887,509)
CASH FLOw STATEmENTFOR THE PERIOD ENDED AT 30 JUNE 2014
MoP
invEsting activitiEs aMountintErEst rEcEivEd froM invEstMEnts in dEBt sEcuritiEs 12,279,189
dividEnds rEcEivEd froM unlistEd Equity invEstMEnts 136,356
PurchasEs of invEstMEnts in sEcuritiEs (409,182,171)
ProcEEds froM disPosal and rEdEMPtion of invEstMEnts in sEcuritiEs 25,316,031
PurchasEs of ProPErtiEs and EquiPMEnt (10,362,694)
ProcEEds froM disPosal of ProPErtiEs and EquiPMEnt 39,215,300
NET CASH uSEd iN iNVESTiNG ACTiViTiES (342,597,989)
MoP
financing activitiEs aMount
dividEnd Paid (201,292,917)
NET CASH uSEd iN FiNANCiNG ACTiViTiES (201,292,917)
NET dECREASE iN CASH ANd CASH EQuiVALENTS (7,730,778,415)
CASH ANd CASH EQuiVALENTS AT 1 JANuARY 17,987,228,213
CASH ANd CASH EQuiVALENTS AT 31 dECEMBER 10,256,449,798
rEPrEsEntEd By
cash and short-tErM funds 2,589,726,048
PlacEMEnts with Banks and othEr financial institutions with original Maturity at or within thrEE Months
7,666,723,750
10,256,449,798
MoP
othEr than dErivativEs transactions 16
aMount
a) crEdit suBstitutEs -
B) transaction-rElatEd contingEnciEs 2,683,087
c) accEPtancEs and othEr tradE-rElatEd contingEnciEs 119,987
d) notE issuancE facilitiEs, rEvolving undErwriting facilitiEs and othEr siMilar facilitiEs -
E) forward assEt PurchasEs -
f) unPaid Portion of Partly Paid sharEs and othEr sEcuritiEs -
g) forward forward dEPosits -
h) assEt salEs with rEPurchasE oPtion -
i) undrawn crEdit facilitiEs and othEr coMMitMEnts to ExtEnd crEdit 7,224,309
J) othEr off-BalancE-shEEt itEMs 226,598,310
OFF-BALANCE-SHEET ExPOSURES OTHER THAN DERIvATIvES TRANSACTIONSCONTRACTUAL OR NOTIONAL AmOUNT OF EACH mATERIAL CLASS OF OFF-BALANCE-SHEET ExPOSURES AT 30 JUNE 2014
6. off-BalancE-shEEt ExPosurEs
MoP thousand
7. dErivativEs transactions 18
ELEMENTS NOMiNAL VALuE
intErEst ratE contracts 275,875
ExchangE ratE contracts 9,872,394
EquitiEs contracts -
coMModitiEs contracts -
othErs -
ELEMENTS WEiGHTEd ExPOSuRE
intErEst ratE contracts 276
forEign ExchangE ratE contracts 39,490
DERIvATIvES TRANSACTIONSCONTRACTUAL AmOUNT OR NOTIONAL AmOUNT AT 30 JUNE 2014
CREDIT RISk wEIgHTED AmOUNTS OF INTEREST RATE CONTRACTS AND ExCHANgE RATE CONTRACTS AS CALCULATED IN ACCORDANCE wITH NOTICE 013/93-AmCm AT 30 JUNE 2014
MoP thousand
MoP thousand
8. rElatEd Party transactions 20
RELATED PARTy TRANSACTIONS AT 30 JUNE 2014QuANTiTATiVE diSCLOSuRE
dEBiT BALANCES 13,472,829
intErBank assEts 12,631,815
cErtificatEs of dEPosit -
sundry invEstMEnts 697,184
loans grantEd -
othEr assEts 126,814
oPErating cost 17,016
CREdiT BALANCES 1,156,822
dEPosits of non-Bank custoMErs -
cErtificatEs of dEPosit -
intErBank liaBilitiEs 1,011,460
othEr liaBilitiEs 10,676
oPErating incoME 134,686
MoP thousandaMount
9. caPital 22
own funds & solvEncy ratio
corE caPital - Paid uP sharE caPital 2,000,000
lEgal, statutory and othEr rEsErvEs which arE crEatEd froM aPProPriation of rEtainEd Profits
1,927,123
thE total aMount of suPPlEMEntary caPital 1,369,780
othEr dEduction froM caPital -
thE total aMount of own funds aftEr dEduction 5,296,903
oPErational risk adJustEd solvEncy ratio 22.68%
SOLVENCY RATiO OF THE HOLdiNG COMPANY
caixa gEral dE dEPÓsitos grouP 13.4%
iTS SiGNiFiCANT BANk SuBSidiARiES
caixa - Banco dE invEstiMEnto, s.a. Portugal 14.8%
MErcantilE lisBon Bank holdings, ltd. south africa 21.8%
Banco caixa gEral Brasil, s.a. BraZil 19.9%
Banco caixa gEral, s.a. sPain 16.1%
Banco coMErcial do atlântico, s.a. caPE vErdE 12.7%
Banco coMErcial E dE invEstiMEntos, s.a. MoZaMBiquE 10.4%
Banco intEratlântico, s.a. caPE vErdE 13.0%
CAPITALAT 30 JUNE 2014
MoP thousand
10. crEdit risk 24
COuNTRY COdE
NAME LOANS ANd AdVANCES
LOANS ANd AdVANCES PAST duE
SPECiFiC PROViSiON
dEBT SECuRiTiES
iNTERBANk ASSETS
GOVERNMENTANd / OR PuBLiC SECTOR
FiNANCiAL dERiVATiVES
EQuiTY iNVESTMENT
aE unitEd araB EMiratEs
331,340 - - - -
ao angola 79,963 - - - -
au australia - 72,126 - - -
BE BElgiuM - - - - -
Bd BangladEsh - - - -
Br BraZil 450,104 - - 275,876 -
ca canada - - 54 - -
ch switZErland - - 1,895 - -
cn china - 55,303 3,011,504 - -
ky cayMan islands 14,517 - - - -
dE gErMany 5,447 - 1,233 - -
dk dEnMark - - - - -
Es sPain (EsPana) - - - -
fr francE - 261,444 7,913 - -
gB unitEd kingdoM - - 527,866 8,194,638 -
hk hong kong 379,908 12,667 2,580,866 1,579,122 7,674
id indonEsia - - - -
in india 523 - 1,126 - -
it italy - - 825 - -
JP JaPan - - 38,049 - -
lu luxEMBourg - - 8 - -
Mo Macau 15,355,850 92,256 (50,000) - 860,219 2,806,000 - 1,265
MZ MoZaMBiquE - - 252,298 - -
Mu Mauritius - - - - -
My Malaysia 223,555 - - - -
nl nEthErlands - - - - -
no norway - - 14 - -
nZ nEw ZEaland - - 161 - -
Pl Poland - -
Pt Portugal 326,805 435,740 11,856,199 98,634 -
ru russian fEdEration
- - - -
sa saudi araBia - - - -
sg singaPorE 389,385 - 9,373 - -
sk slovakia(slovak rEPuBlic)
- - 5,145 - -
sE swEdEn - - - - -
tr turkEy - - -
us unitEd statEs 1,594,677 - 11,766 - -
vE vEnEZuEla - - -
vg virgin islands (British)
79,840 - - - -
19,231,914 92,256 (50,000) 837,280 19,166,514 2,806,000 10,148,270 8,939
CREDIT RISk10.1 GeOGraPhiC distributiOn OF exPOsures at 30 june 2014
MoP thousand
10. crEdit risk 25
SECTORS LOANS ANd AdVANCES
LOANS ANd AdVANCES PAST duE
SPECiFiC PROViSiON
CHARGE-OFFS
agriculturE and fishEriEs - - - -
Manufacturing 935,239 5,876 (2,136) -
ElEctricity, gas and watEr 243,463 37 - - construction and PuBlic works 270,050 2 (6) - tradE (wholEsalE and rEtail) 502,655 - (19) -
rEstaurants, hotEls and rElatEd activitiEs 103,950 - (189) -
transPort, warEhousE and coMMunications 169,563 - (6) - individuals for housE PurchasEs 7,970,347 - (16,031) -
individuals for othEr PurPosEs 961,307 39,276 - -
othErs 8,075,340 47,065 (31,613) -
19,231,914 92,256 (50,000) -
CREDIT RISk10.2 industrY distributiOn OF exPOsures at 30 june 2014
MoP thousand
According to AMCM’s requirement, a general provision of 1 % for MOP 222 million was made by the end of the period in order to reach a balance of 1% of the aggregated value of the credits which were not overdue for more than 3 months and of guarantees.
10. crEdit risk 26
10.4 analYsis On Past due assets at 30 june 2014
MoP thousand
PAST duE FOR PAST duE LOANS & AdVANCES (including tradE Bills)
COLLATERAL SPECiFiC PROViSiONS
MorE than 3 Months But not MorE than 6 Months 61,718 67.00% 68,550 3,828
MorE than 6 Months But not MorE than 1 yEar 10,823 12.00% 0 5,802
MorE than 1 yEar 19,715 21.00% 8,166 11,139
TOTAL ASSETS 92,256 100.00% 76,716 20,769
MoP thousandgross aMount of Past duE assEts to non-Bank custoMErs
TYPE OF ACCOuNTS TOTAL REPAYABLE
ON dEMANd
WiTHiN 1 MONTHS (ExcEPt thosE rEPayaBlE on dEMand)
MORE THAN 1 MONTH BuT NOT MORE THAN 3 MONTHS
MORE THAN 3 MONTHS BuT NOT MORE THAN 1 YEAR
MORE THAN 1 YEAR BuT NOT MORE THAN 3 YEARS
MORE THAN 3 YEARS
WiTHiN AN iNdEFiNiTE PERiOd
ASSETS
loans and advancEs to custoMErs
19,231,914 549,063 172,443 189,969 2,217,832 2,091,805 14,010,802 0
cash and BalancEs with and loans and advancEs to Banks
21,972,514 801,570 8,582,763 4,843,413 7,240,121 504,647 0 0
cErtificatEs of dEPosit hEld
0 0 0 0 0 0 0 0
sEcuritiEs issuEd By Macao sar govErnMEnt and /or aMcM
5,404,068 0 5,404,068 0 0 0 0 0
othEr sEcuritiEs 837,280 0 108,935 0 282,273 433,153 12,919 0
TOTAL ASSETS 47,445,776 1,350,633 14,268,209 5,033,382 9,740,226 3,029,605 14,023,721 0
cn - 46,262 672,690 - -
LIABILITIES
dEPosits and BalancEs of Banks and financial institutions
186,445 186,445 0 0 0 0 0 0
dEPosits froM PuBlic sEctor EntitiEs
13,745,413 4,450,584 1,631,523 3,202,500 4,460,806 0 0 0
dEPosits froM holding and associatEd coMPaniEs
1,009,706 2,352 107,354 0 0 0 900,000 0
dEPosits froM non-Bank custoMErs
24,974,874 16,129,022 2,386,885 1,632,881 4,821,937 4,149 0 0
cErtificatEs of dEPosits issuEd
0 0 0 0 0 0 0 0
othEr sEcuritiEs issuEd 0 0 0 0 0 0 0 0
TOTAL LiABiLiTiES 39,916,438 20,768,403 4,125,762 4,835,381 9,282,743 4,149 900,000 0
rEsidual contractual Maturity BrEakdown By tyPEs and rEPayaBlE PEriods
CREDIT RISk10.3 maturitY analYsis On assets and liabilities at 30 june 2014
11. MarkEt risk 28
itEMs aMount
intErEst ratE risk 41,268
Equity Position risk 0
forEign ExchangE risk 568
coMModitiEs risk 0
MARkET RiSk CAPiTAL CHARGES FOR ALL CATEGORiES
41,836
mARkET RISkqUALITATIvE DISCLOSURE OF mARkET RISk AT 30 JUNE 2014
MoP thousand
THE mARkET RISk CAPITAL REqUIREmENTS
12. intErEst ratE risk in thE Banking Book 30
INTEREST RATE RISk IN THE BANkINg BOOkAT 30 JUNE 2014
MoP thousand
iTEM TiME BANd LONG (A)
(SHORT) (B)
LONG (C)
(SHORT) (d)
MOPTOTAL NET
LONG(SHORT)
(E)
WEiGHiNGFACTOR
WEiGHTEd POSiTiON
LONG /(SHORT)
(F)
1 within 1 day 7,130,290 (12,934,231) - - (5,803,941) 0.00% -
2 >1 to <= 7 days 2,996,058 (848,583) - (14,149) 2,133,326 0.02% 427
3 >7 days to <= 1 Month 505,261 (889,902) - - (384,641) 0.10% (385)
4 >1 to <= 3 Months 914,460 (2,774,166) - (98,700) (1,958,406) 0.32% (6,267)
5 >3 to <= 6 Months 4,185 (4,717,894) - - (4,713,709) 0.72% (33,939)
6 >6 Months to <=1 yEar 19,873 (508,470) - - (488,597) 1.43% (6,987)
7 >1 to <=2 yEars 81,759 (1,277) - - 80,482 2.77% 2,229
8 >2 to <=3 yEars 124,101 (85) - - 124,016 4.49% 5,568
9 >3 to <=4 yEars 56,720 - - - 56,720 6.14% 3,483
10 >4 to <=5 yEars 40,715 - - - 40,715 7.71% 3,139
11 >5 to <=7 yEars 492,256 - - - 492,256 10.15% 49,964
12 >7 to <=10 yEars - - - - - 13.26% -
13 >10 to <=15 yEars - - - - - 17.84% -
14 >15 to <=20 yEars - - - - - 22.43% -
15 ovEr 20 yEars - - - - - 26.03% -
16 wEightEd Position for this currEncy (suM of 1(d) - 15(d)) 17,233
17 wEightEd Position of all othEr currEnciEs 202,017
18 wEightEd Position of all currEnciEs (16(f)+17(f)) 219,250
19 own funds* 5,296,903
20 iMPACT ON ECONOMiC VALuE AS % OF OWN FuNdS* (18(F) AS % OF 19(F)) 4.1%
intErEst ratE ExPosurEs at a shock of 200 Basis Points
13. forEign ExchangE risk 32
FOREIgN ExCHANgE RISkAT 30 JUNE 2014
13.1 TOTAL NET LONg AND TOTAL NET SHORT POSITIONS IN FOREIgN CURRENCIES
MoP thousand
CuRRENCY NET OPEN POSiTiONExCLudiNG OPTiON CONTRACTSLONG OR SHORT
NET POSiTiON iN OPTiON CONTRACTS LONG OR SHORT
NET OPEN POSiTiONiNCLudiNG OPTiON CONTRACTSLONG OR SHORT
1. australian dollars (182) (182)
2. canadian dollars (63) (63)
3. chinEsE rEnMinBi 1,787 1,787
4. Euro 2,238 2,238
5. hong kong dollars 14,672,340 14,672,340
6. JaPanEsE yEn 232 232
7. nEw ZEaland dollars 183 183
8. Pound stErling (187) (187)
9. singaPorE dollars (23) (23)
10. swiss francs (59) (59)
11. us dollars 140,708 140,708
12. forEign currEnciEs not sEParatEly sPEicfiEd aBovE, ExcEPt gold 2,665 2,665
13. Macao Patacas (14,819,639)
14. MoP/hkd/usd Position (in aBosolutE valuE) 14,813,048
15. gold -
16. SuM OF NET LONG POSiTiONS uNdER iTEMS 1-13 14,820,153
17. SuM OF NET SHORT POSiTiONS uNdER iTEMS 1-13 (iN ABSOLuTE VALuE) 14,820,153
13.2 wHERE THE NET POSITION (IN ABSOLUTE TERmS) IN A PARTICULAR FOREIgN CURRENCy CONSTITUTES NOT LESS THAN 10% OF THE TOTAL NET POSITION IN ALL FOREIgN CURRENCIES, DISCLOSE IN RESPECT OF THE PARTICULAR CURRENCy ITS NET LONg (OR NET SHORT) POSITION.
AT 30 JUNE 2014
sPot assEts 14,733,595
sPot liaBilitiEs -
forward PurchasEs -
forward salEs (61,255)
nEt oPtions Position -
nEt long Position 14,672,340
HONG kONG dOLLAR in MoP thousand EquivalEnt
14. liquidity risk 34
LIqUIDITy RISk AT 30 JUNE 2014
MoP thousand
• thE arithMEtic MEan of thE MiniMuM wEEkly aMount of cash in hand that is rEquirEd to hold during thE rEPorting PEriod
592,479
• thE arithMEtic MEan of its wEEkly aMount of cash in hand during thE rEPorting PEriod 6,473,860
• thE arithMEtic MEan of its sPEcifiEd liquid assEts at thE End of Each Month during thE rEPorting PEriod
40,241,992
• thE avEragE ratio of sPEcifiEd liquid assEt to total Basic liaBilitiEs at thE End of Each Month during thE rEPorting PEriod
162.66%
• thE arithMEtic MEan of its onE-Month liquidity ratio in thE last wEEk of Each Month during thE rEPorting PEriod
148.30%
• thE arithMEtic MEan of its thrEE-Month liquidity ratio in thE last wEEk of Each Month during thE rEPorting PEriod
214.20%
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