NIB websiteNordic Investment Bank – Annual Report 2010
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(19) INTEREST RATE RISK
                     


Interest rate risk is the impact that fluctuations in market interest rates can have on the value of the Bank's interest-bearing assets and liabilities and on the interest income recognised in the statement of comprehensive income. The table below provides information on the extent of the Bank's interest rate exposure. The assets and liabilities are grouped into brackets defined by their time to maturity or the date of the interest rate adjustment. The difference, or gap, between assets and liabilities in each time bracket makes the Bank sensitive to interest rate fluctuations. See also Financial Guidelines and Risk Management, Market Risk.

 

 

2010
(Amounts in EUR million) Up to and including 3 months Over 3 months and up to and including 6 months Over 6 months and up to and including 1 year Over 1 year and up to and including 5 years Over 5 years and up to and including 10 years Over 10 years Undefined Total
Assets





 
Cash and cash equivalents 2,710 - 16 - - - - 2,726
Financial placements                
  Placements with credit institutions 60 35 33 - - - 3 130
  Debt securities 2,652 119 175 1,234 682 279 -67 5,075
  Other - - - - - - 26 26
  2,712 154 208 1,234 682 279 -38 5,231
                 
Loans outstanding 5,595 6,551 143 555 472 358 97 13,771
Intangible assets - - - - - - 5 5
Tangible assets - - - - - - 32 32
Other assets                
  Derivatives                
  Receivables ¹ 12,543 4,191 999 8,591 2,429 1,321 968 31,042
  Other assets - - - - - - 37 37
Payments to the Bank's reserves, receivable - - - - - - 5 5
Accrued interest and fees receivable - - - - - - 372 372
Total assets 23,559 10,897 1,366 10,380 3,583 1,958 1,479 53,222
                 
                 
Liabilities and equity                
Liabilities                
Amounts owed to credit institutions                
  Short-term 1,125 6 - - - - - 1,131
  Long-term 60 35 49 - - - - 144
  1,185 41 49 - - - - 1,275
                 
Debts evidenced by certificates 4,797 999 1,190 9,340 2,497 252 868 19,944
Other liabilities                
  Derivatives                
  Payables ¹ 21,281 6,112 55 871 534 385 201 29,441
  Other liabilities - - - - - - 6 6
Accrued interest and fees payable - - - - - - 294 294
Total liabilities 27,263 7,153 1,294 10,211 3,031 637 1,370 50,960
                 
Equity - - - - - - 2,262 2,262
Total liabilities and equity 27,263 7,153 1,294 10,211 3,031 637 3,632 53,222
                 
Net during the period -3,704 3,744 72 169 551 1,321 -2,152 -
Cumulative net during the period -3,704 40 112 280 832 2,152 - -
Guarantee commitments - - - 8 - - - 8
                     



 

2009
(Amounts in EUR million) Up to and including 3 months Over 3 months and up to and including 6 months Over 6 months and up to and including 1 year Over 1 year and up to and including 5 years Over 5 years and up to and including 10 years Over 10 years Undefined Total
Assets





 
Cash and cash equivalents 876 68 30 - - - - 974
Financial placements  
  Placements with credit institutions 27 8 48 - - - 2 85
  Debt securities 3,390 125 189 1,219 521 297 -81 5,659
  Other - - - - - - 20 20
  3,416 133 237 1,219 521 297 -59 5,764
 
Loans outstanding 5,251 6,729 598 376 560 200 49 13,763
Intangible assets - - - - - - 7 7
Tangible assets - - - - - - 33 33
Other assets  
  Derivatives  
  Receivables ¹ 8,422 4,947 2,065 8,468 2,414 1,336 479 28,130
  Other assets - - - - - - 29 29
Payments to the Bank's reserves, receivable - - - - - - 18 18
Accrued interest and fees receivable - - - - - - 372 372
Total assets 17,965 11,877 2,930 10,063 3,495 1,834 928 49,090
 
 
Liabilities and equity  
Liabilities  
Amounts owed to credit institutions  
  Short-term 445 7 - - - - - 452
  Long-term 57 67 77 - - - - 201
  502 74 77 - - - - 653
 
Debts evidenced by certificates 1,575 1,909 2,417 8,958 2,493 262 383 17,998
Other liabilities  
  Derivatives  
  Payables ¹ 18,568 7,675 25 764 505 396 158 28,091
  Other liabilities - - - - - - 8 8
Accrued interest and fees payable - - - - - - 291 291
Total liabilities 20,646 9,658 2,519 9,721 2,998 658 839 47,040
 
Equity - - - - - - 2,050 2,050
Total liabilities and equity 20,646 9,658 2,519 9,721 2,998 658 2,890 49,090
 
Net during the period -2,681 2,218 411 341 497 1,175 -1,962 -
Cumulative net during the period -2,681 -462 -52 289 787 1,962 - -
Guarantee commitments - - - 12 - - - 12
 
                     

¹ Swaps are not netted.

 

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