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Offsetting financial assets and financial liabilities (Tables)
 12 Months Ended
Sep. 30, 2020
Offsetting financial assets and financial liabilities  
Schedule of offsetting financial assets and financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amounts subject to enforceable netting arrangements

 

 

Effects of offsetting

 

Amounts subject to enforceable

 

 

 

 

on balance sheet

 

netting arrangements but not offset

 

 

 

 

 

 

 

 

Net amounts

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

reported on

 

recognised

 

 

 

Financial

 

 

Consolidated

 

Gross

 

Amounts

 

the balance

 

financial

 

Cash

 

instrument

 

Net

$m

    

amounts

    

offset

    

sheet

    

instruments

    

collateral1,2

    

collateral

    

amount

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collateral paid3

 

10,068

 

(10,032)

 

36

 

 —

 

 —

 

(16)

 

20

Derivative financial instruments4

 

61,171

 

(39,968)

 

21,203

 

(14,719)

 

(2,247)

 

(16)

 

4,221

Reverse repurchase agreements5

 

20,401

 

 —

 

20,401

 

 —

 

(5)

 

(20,396)

 

 —

Loans6

 

23,301

 

(23,266)

 

35

 

 —

 

 —

 

 —

 

35

Total assets

 

114,941

 

(73,266)

 

41,675

 

(14,719)

 

(2,252)

 

(20,428)

 

4,276

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collateral received

 

5,516

 

(5,501)

 

15

 

 —

 

 —

 

 —

 

15

Derivative financial instruments4

 

66,144

 

(44,499)

 

21,645

 

(14,719)

 

(4,426)

 

(1,693)

 

807

Repurchase agreements7

 

27,763

 

 —

 

27,763

 

 —

 

(98)

 

(27,665)

 

 —

Deposits and other borrowings6

 

43,999

 

(23,266)

 

20,733

 

 —

 

 —

 

 —

 

20,733

Total liabilities

 

143,422

 

(73,266)

 

70,156

 

(14,719)

 

(4,524)

 

(29,358)

 

21,555

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Assets

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Collateral paid3

 

6,643

 

(6,559)

 

84

 

 —

 

 —

 

(17)

 

67

Derivative financial instruments4

 

58,125

 

(31,605)

 

26,520

 

(18,609)

 

(3,280)

 

(102)

 

4,529

Reverse repurchase agreements5

 

6,833

 

 —

 

6,833

 

 —

 

(9)

 

(6,824)

 

 —

Loans6

 

18,202

 

(18,130)

 

72

 

 —

 

 —

 

 —

 

72

Total assets

 

89,803

 

(56,294)

 

33,509

 

(18,609)

 

(3,289)

 

(6,943)

 

4,668

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collateral received

 

3,024

 

(2,972)

 

52

 

 —

 

 —

 

 —

 

52

Derivative financial instruments4

 

62,046

 

(35,192)

 

26,854

 

(18,609)

 

(5,622)

 

(1,932)

 

691

Repurchase agreements7

 

10,604

 

 —

 

10,604

 

 —

 

(3)

 

(10,601)

 

 —

Deposits and other borrowings6

 

28,880

 

(18,130)

 

10,750

 

 —

 

 —

 

 —

 

10,750

Total liabilities

 

104,554

 

(56,294)

 

48,260

 

(18,609)

 

(5,625)

 

(12,533)

 

11,493

1.

$2,250 million (2019: $3,287 million) of cash collateral on derivative financial assets and reverse repurchase agreements forms part of collateral received as disclosed in the balance sheet. The remainder is included in term deposits recognised in deposits and other borrowings within Note 16.

2.

$4,524 million (2019: $5,625 million) of cash collateral, subject to enforceable netting arrangements with derivative financial liabilities and repurchase agreements, forms part of collateral paid as disclosed in the balance sheet. The remainder of collateral paid, as disclosed in the balance sheet, consists of $16 million (2019: $18 million) in stock borrowing arrangements and $238 million (2019: $287 million) in futures margin that does not form part of this column.

3.

Gross amounts consist of variation margin held directly with central clearing counterparties and stock borrowing arrangements. Where variation margin is receivable it is reported as part of collateral paid. Where variation margin is payable it is reported as part of collateral received. Amounts offset relate to variation margin.

4.

$2,164 million (2019: $3,339 million) of derivative financial assets and $1,409 million (2019: $2,242 million) of derivative financial liabilities are not subject to enforceable netting arrangements. 2019 gross amounts, net amounts reported on the balance sheet and net amount were restated to exclude amounts not subject to enforceable netting arrangements.

5.

Reverse repurchase agreements form part of trading securities and financial assets measured at FVIS in Note 10.

6.

Gross amounts consist of debt and interest set-off accounts which meet the requirements for offsetting as described above. These accounts form part of business loans in Note 12 and part of deposits and other borrowings at amortised cost in Note 16.

7.

Repurchase agreements form part of other financial liabilities in Note 17.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amounts subject to enforceable netting arrangements

 

 

Effects of offsetting

 

Amounts subject to enforceable

 

 

 

 

on balance sheet

 

netting arrangements but not offset

 

 

 

 

 

 

 

 

Net amounts

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

reported on

 

recognised

 

 

 

Financial

 

 

Parent Entity

 

Gross

 

Amounts

 

the balance

 

financial

 

Cash

 

instrument

 

Net

$m

    

amounts

    

offset

    

sheet

    

instruments

    

collateral1,2

    

collateral

    

amount

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collateral paid3

 

10,068

 

(10,032)

 

36

 

 —

 

 —

 

(16)

 

20

Derivative financial instruments4

 

60,616

 

(39,968)

 

20,648

 

(14,586)

 

(1,859)

 

(16)

 

4,187

Reverse repurchase agreements5

 

20,401

 

 —

 

20,401

 

 —

 

(5)

 

(20,396)

 

 —

Loans6

 

23,301

 

(23,266)

 

35

 

 —

 

 —

 

 —

 

35

Total assets

 

114,386

 

(73,266)

 

41,120

 

(14,586)

 

(1,864)

 

(20,428)

 

4,242

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collateral received

 

5,516

 

(5,501)

 

15

 

 —

 

 —

 

 —

 

15

Derivative financial instruments4

 

65,874

 

(44,499)

 

21,375

 

(14,586)

 

(4,289)

 

(1,693)

 

807

Repurchase agreements7

 

27,763

 

 —

 

27,763

 

 —

 

(98)

 

(27,665)

 

 —

Deposits and other borrowings6

 

43,999

 

(23,266)

 

20,733

 

 —

 

 —

 

 —

 

20,733

Total liabilities

 

143,152

 

(73,266)

 

69,886

 

(14,586)

 

(4,387)

 

(29,358)

 

21,555

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Assets

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Collateral paid3

 

6,643

 

(6,559)

 

84

 

 —

 

 —

 

(17)

 

67

Derivative financial instruments4

 

57,550

 

(31,605)

 

25,945

 

(18,526)

 

(2,842)

 

(102)

 

4,475

Reverse repurchase agreements5

 

6,731

 

 —

 

6,731

 

 —

 

(9)

 

(6,722)

 

 —

Loans6

 

18,202

 

(18,130)

 

72

 

 —

 

 —

 

 —

 

72

Total assets

 

89,126

 

(56,294)

 

32,832

 

(18,526)

 

(2,851)

 

(6,841)

 

4,614

Liabilities

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Collateral received

 

3,024

 

(2,972)

 

52

 

 —

 

 —

 

 —

 

52

Derivative financial instruments4

 

61,807

 

(35,192)

 

26,615

 

(18,526)

 

(5,466)

 

(1,932)

 

691

Repurchase agreements7

 

10,604

 

 —

 

10,604

 

 —

 

(3)

 

(10,601)

 

 —

Deposits and other borrowings6

 

28,880

 

(18,130)

 

10,750

 

 —

 

 —

 

 —

 

10,750

Total liabilities

 

104,315

 

(56,294)

 

48,021

 

(18,526)

 

(5,469)

 

(12,533)

 

11,493

 

 

1.

$1,862 million (2019: $2,849 million) of cash collateral on derivative financial assets and reverse repurchase agreements forms part of collateral received as disclosed in the balance sheet. The remainder is included in term deposits recognised in deposits and other borrowings within Note 16.

2.

$4,387 million (2019: $5,469 million) of cash collateral, subject to enforceable netting arrangements with derivative financial liabilities and repurchase agreements, forms part of collateral paid as disclosed in the balance sheet. The remainder of collateral paid, as disclosed in the balance sheet, consists of $16 million (2019: $18 million) in stock borrowing arrangements and $238 million (2019: $286 million) on futures margin that does not form part of this column.

3.

Gross amounts consist of variation margin held directly with central clearing counterparties and stock borrowing arrangements. Where variation margin is receivable it is reported as part of collateral paid. Where variation margin is payable it is reported as part of collateral received. Amounts offset relate to variation margin.

4.

$2,146 million (2019: $3,338 million) of derivative financial assets and $1,404 million (2019: $2,252 million) of derivative financial liabilities are not subject to enforceable netting arrangements. 2019 gross amounts, net amounts reported on the balance sheet and net amount were restated to exclude amounts not subject to enforceable netting arrangements.

5.

Reverse repurchase agreements form part of trading securities and financial assets measured at FVIS in Note 10.

6.

Gross amounts consist of debt and interest set-off accounts which meet the requirements for offsetting as described above. These accounts form part of business loans in Note 12 and part of deposits and other borrowings at amortised cost in Note 16.

7.

Repurchase agreements form part of other financial liabilities in Note 17.