Eastern Caribbean Central Bank
Notes to Consolidated Financial Statements
March 31, 2015
(expressed in Eastern Caribbean dollars)
66
12. Financial assets held for trading
The Bank
’s
derivatives relate to currency forwards. Currency forwards represent commitments to
purchase foreign currency and are initially recognised at fair value on the date that a derivative contract
is entered into and are subsequently remeasured at their fair value.
The following is an analysis of the currency forwards held with positive fair value as at March 31, 2015:
Currency sold
/purchased
Notional
value of
contracts
Notional value of
contracts
EC$ equivalent
Value date of contracts
Fair value of
contracts
$
AUD
22,378,739
47,205,128
April 21 & 23, 2015
1,362,331
CAD
20,798,900
45,214,276
April 05,18 & 29, 2015
1,265,219
April 21 & 29, May 1, June 17 &
EUR
18,165,191 54,557,557
22, 2015
1,861,257
GBP
414,700
1,660,865
April 29, 2015
6,453
CHF
22,400
62,267
April 29, 2015
95
USD
11,703
31,597
April 21, 2015
296
148,731,690
4,495,651
Current
4,495,651
The following is an analysis of the currency forwards held with positive fair value as at March 31, 2014:
Currency sold
/purchased
Notional
value of
contracts
Notional value of
contracts
EC$ equivalent
Value date of contracts
Fair value of
contracts
$
USD
20,162,495
54,438,735
April 01& 22, May 01 & 06, 2014
1,388,227
54,438,735
1,388,227
Current
1,388,227
1, 0
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ECCB
ANNUAL REPORT 2014/2015
107
EASTERN CARIBBEAN CENTRAL BANK
12.
Financial assets held for trading
The Bank’s derivatives relate to currency forwards. Currency forwards represent commitments to
purchase foreign currency and are initially recognised at fair value on the date that a derivative contract
is entered into and are subsequently remeasured at their fair value.
The following is an analysis of the currency forwards held with positive fair value as at March 31, 2015:
The following is an analysis of the currency forwards held with positive fair value as at March 31, 2014:
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(expressed in Eastern Caribbean dollars)
March 31, 2015
