(expressed in Eastern Caribbean dollars)
March 31, 2015
Eastern Caribbean Central Bank
Notes to Consolidated Financial Statements
March 31, 2015
(expressed in Eastern Caribbean dollars)
49
3. Financial risk management
…
continued
f) Fair value
Fair value is the arm’s length consideration for which an asset could be exchanged or a liability settled, between knowledgea
ble, willing parties,
who are under no compulsion to act and is best evidenced by a quoted market price, if one exists.
(i) Financial instruments not measured at fair value
The table below summarises the carrying amounts and fair values of those financial assets and l
iabilities not presented in the Bank’s
consolidated
statement of financial position at their fair value:
Carrying value
Fair value
2015
2014
2015
2014
$
$
$
$
Financial assets
Balances with other central banks
13,034,602
5,080,129
13,034,602
5,080,129
Balances with foreign banks
73,225
86,165
73,225
86,165
Money market instruments and money at call
1,105,767,103
879,039,546
1,105,767,103
879,039,546
Balances with local banks
2,464,446
2,049,083
2,464,446
2,049,083
Due from local banks
9,572,418
9,569,363
9,572,418
9,569,363
Term deposits
–
domestic
11,022,652
11,533,371
11,022,652
11,533,371
Loans and receivables
– participating governments’ securities
100,225,950
103,878,763
100,225,950
87,140,395
Loans and receivables
–
participating governments’ advances
67,490,727
81,510,157
67,490,727
81,510,157
Accounts receivable
7,063,523
6,710,091
7,063,523
6,376,285
1,316,714,646
1,099,456,668
1,316,714,646
1,082,384,494
Financial liabilities
Demand and deposit liabilities
–
domestic
4,088,664,679
3,660,997,177
4,088,664,679
3,660,997,177
Demand and deposit liabilities
–
foreign
884,599
772,956
884,599
772,956
IMF government general resource accounts
1,087,376
1,085,333
1,087,376
1,085,333
Other liabilities and payables
–
–
–
–
4,090,636,654
3,662,855,466
4,090,636,654
3,662,855,466
EASTERN CARIBBEAN CENTRAL BANK
ECCB
ANNUAL REPORT 2014/2015
90
3.
Financial risk management
…continued
f) Fair value
Fair value is the arm’s length consideration for which an asset could be exchanged or a liability settled, between knowledgeable, willing
p rties, who are under no compulsion to act and is best evidenced by a quoted market price, if one exists.
(i) Financial instruments not measured at fair value
The table below summarises the carrying amounts and fair values of those financial assets and liabilities not presented in the Bank’s
consolidated statement of financial position at their fair value:
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
