Cash and cash equivalents

12 Months Ended

Dec. 31, 2012

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents Disclosure [Text Block]

4. Cash and cash equivalents

Cash and cash equivalents are as follows:

	December 31,
(In thousands of US$)	2012		2011
Cash and due from banks		6,718		12,814
Interest-bearing deposits in banks		700,312		830,670
Total		707,030		843,484
Less:
Interest-bearing deposits with original maturities of more than three months		-		30,000
Pledged deposits		14,519		23,994
		692,511		789,490

On December 31, 2012 and 2011, the New York Agency had a pledged deposit with a carrying value of $3.0 million with the New York State Banking Department, as required by law since March 1994. As of December 31, 2012 and 2011, the Bank had pledged deposits of $11.5 million and $21.0 million, respectively, to secure derivative financial instruments transactions and repurchase agreements.