Trinidad and Tobago Unit Trust Corporation
Notes
to the Consolidated
Financial Statements
FOR THE YEAR ENDED
31 DECEMBER, 2012
Expressed in
Trinidad and Tobago dollars
A40
The interest rate re-pricing exposures of Corporation assets and liabilities are provided
below as at 31 December, 2012 and 31 December, 2011:
Less than 1
year
Between 1
and 5 years
Over 5 years
Non-Interest
Bearing
Total
$’000
$’000
$’000
$’000
$’000
At 31 December, 2012
Assets
Cash & Cash Equivalents
615,584
-
-
-
615,584
Money Market Instruments
88,737
-
-
-
88,737
Fixed Income Securities
1,646,668
-
18,066
-
1,664,734
Equities & Mutual Funds
-
-
-
391,782
391,782
Liabilities
Financial Instruments
(1,577,918)
-
(2,459)
-
(1,580,377)
Other Liabilities
(5,701)
(7,886)
-
-
(13,587)
Rate Re-pricing Position
767,370
(7,886)
15,607
391,782
1,166,873
Less than 1
year
Between 1
and 5 years
Over 5 years
Non-Interest
Bearing
Total
$’000
$’000
$’000
$’000
$’000
At 31 December, 2011
Assets
Cash & Cash Equivalents
308,035
-
-
-
308,035
Money Market Instruments
52,510
-
-
-
52,510
Fixed Income Securities
2,276,887
22,696
-
-
2,299,583
Equities & Mutual Funds
-
-
-
304,425
304,425
Liabilities
Financial Instruments
(2,458,816)
-
(3,810)
-
(2,462,626)
Other Liabilities
-
(7,805)
-
-
(7,805)
Rate Re-pricing Position
178,616
14,891
(3,810)
304,425
494,122
Given the above rate re-pricing profile, a change in short term market rates of interest of
1% effective from 31 December, 2012 would have modified net interest income over the
coming twelve months by an estimated TT$1.8 million (2011: TT$4.2 million) with all other
variables held constant.
29) FINANCIAL RISK MANAGEMENT
(continued)
Interest rate risk
(continued)
Unit Trust Corporation
Annual Report 2012
