67
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
CONSOLIDATED ANNUAL REPORT 2015
BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Consolidated Financial Statements
For the year ended March 31, 2015
(Expressed in Barbados dollars)
55
25. Financial Risk Management…(continued)
25.3 Liquidity risk and funding management...(continued)
Liquidity Risk – Financial Liabilities
2015
Within
Within
Within
Over
3 months
3 -12 months
1-5 years
5 years
Deposits
$
491,809,391
114,652,342
321,594,032
67,606,246
9
Loans payable
1,316,027
3,879,035
22,705,506
48,615,783
Reimbursable shares
-
-
6,700,221
-
Other liabilities
1,935,004
5,768,326
-
2,320,167
$ 495,060,422
124,299,703
350,999,759
118,542,196
1,0
2014
Within
Within
Within
Over
3 months
3 -12 months
1-5 years
5 years
Deposits
$
458,614,833
63,357,191
301,817,985
96,264,373
9
Loans payable
5,063,111
4,024,416
26,606,947
55,539,651
Reimbursable shares
-
-
5,351,432
-
Other liabilities
2,014,516
7,396,216
-
2,543,327
$ 465,692,460
74,777,823
333,776,364
154,347,351
1,0
2015
Up to
Within
Within
Over
3 months
3-12 months
1-5 years
5 years Total
Deposits
$ 491,809,391
114,652,342
321,594,032
67,606,246
995,662,011
Loans payable
1,316,027
3,879,035
22,705,506
48,615,783
76,516,351
Reimbursable shares
-
-
6,700,221
-
6,700,221
Other liabilities
1,935,004
5,768,326
-
2,320,167 10,023,497
$ 495,060,422
124,299,703
350,999,759
118,542,196 1,088,902,080
2014
Within
Within
Within
Over
3 months
3 -12 months
1-5 years
5 years
Total
Deposits
$ 458,614,833
63,357,191
301,817,985
96,264,373 920,054,382
Loans payable
5,063,111
4,024,416
26,606,947
55,539,651
91,234,125
Reimbursable shares
-
-
5,351,432
-
5,351,432
Other liabilities
2,014,516
7,396,216
-
2,543,327 11,954,059
$ 465,692,460
74,777,823
333,776,364
154,347,351 1,028,593,998
BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Not s to the Consolidated Financial Statements
For the year ended March 31, 2015
(Expressed in Barbados dollars)
25. Financial Risk Management…(continued)
25.4
Market risk
Market risk is the risk that the fair value or future cash flows of financial instruments will fluctuate due to
changes in market variables such as interest rates, foreign exchange rates and equity prices. The Group
is mainly exposed to interest rate risk. The Groupʼs exposure to currency risk is minimal as a result of
the fixed rate of exchange between the Barbados and Eastern Caribbean dollar.
Interest rate risk
Interest rate risk is the risk of loss from the fluctuations in the future cash flows or fair values of financial
instruments because of a change in market interest rates. It arises when there is a mismatch between
interest-bearing assets and interest-bearing liabilities, which are subject to interest rate adjustments,
within a specified period. It can be reflected as a loss of future net interest income and/or a loss of current
market values.
BARBADOS PUBLIC WORKERS' CO-OPERATIV CREDIT UNION LIMITED
Notes to the Con lidated Financial Statements
For the year ended M rch 31, 2015
(Expressed in Barba os dollars)
25. Financial R sk M nagement…(conti ued)
25.4
Market risk
Market risk is th i
that the fair valu or future cash flows of financial instruments will fluctuate due to
changes in m rk t variables such as interest rates, foreign exchan e rates and equity pric s. The Group
is mainly exposed to inter st rate risk. The Groupʼs xp s re to currency risk is minimal as a result of
the fixed rat of xchange between th Barbados and Eastern Caribb an dollar.
Interest rate risk
Interest rate risk is th i of loss from the fluctua ions in the future cash flows or fair values of fin ncial
instruments because of a change in m rket i terest rates. It a is when th re is a mismatch between
interest-bearing ass ts and int rest-bearing lia ilities, which are subject to interest rate adjustm nts,
within a specified period. It can be reflected as a loss of future net inter st income and/or a loss of current
market values.
