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Offsetting of financial assets and liabilities | 12 Months Ended
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Dec. 31, 2013
Offsetting [Abstract] |
Offsetting Of Financial Assets And Liabilities [Text Block] |
23. | Offsetting of financial assets and liabilities
In the ordinary course of business, the Bank enters into derivative financial instrument transactions and securities sold under repurchase agreements under industry standards agreements. Depending on the collateral requirements stated in the contracts, the Bank and counterparties can receive or deliver collateral based on the fair value of the financial instruments transacted between parties. Collateral typically consists of cash deposits and securities. The master netting agreements include clauses that, in the event of default, provide for close-out netting, which allows all positions with the defaulting counterparty to be terminated and net settled with a single payment amount. The following tables summarize financial assets and liabilities that have been offset in the consolidated balance sheet or are subject to master netting agreements:
| a) | Derivative financial instruments - assets
December 31, 2013 |
|  |  |  |  |  |  |  | Gross amounts not offset in |  |  |
(In thousands of US$) |  |  |  |  |  |  |  | the balance sheet |  |  |
|  |  |  | Gross amounts |  | Net amount of assets |  |  |  | Cash |  |  |
|  | Gross amounts |  | offset in the |  | presented in the |  | Financial |  | collateral |  | Net |
Description |  | of assets |  | balance sheet |  | balance sheet |  | instruments |  | received |  | amount |
Derivative financial instruments |  | 15,217 |  | - |  | 15,217 |  | - |  | (1,050) |  | 14,167 |
December 31, 2012 |
|  |  |  |  |  |  |  | Gross amounts not offset in |  |  |
(In thousands of US$) |  |  |  |  |  |  |  | the balance sheet |  |  |
|  |  |  | Gross |  |  |  |  |  |  |  |  |
|  | Gross |  | amounts offset |  | Net amount of assets |  |  |  | Cash |  |  |
|  | amounts of |  | in the balance |  | presented in the |  | Financial |  | collateral |  | Net |
Description |  | assets |  | sheet |  | balance sheet |  | instruments |  | received |  | amount |
Derivative financial instruments |  | 19,385 |  | (27) |  | 19,358 |  | - |  | (2,950) |  | 16,408 |
The following table presents the reconciliation of assets that have been offset or are subject to master netting agreements to individual line items in the balance sheet as of December 31, 2013 and 2012:
(In thousands of US$) |  |  |  | 2013 |  |  |  |  |  | 2012 |  |  |
|  |  |  |  |  | Net amount of |  |  |  |  |  | Net amount |
|  |  |  |  |  | assets |  |  |  | Gross |  | of assets |
|  | Gross |  | Gross amounts |  | presented in |  | Gross |  | amounts |  | presented in |
|  | amounts of |  | offset in the |  | the balance |  | amounts |  | offset in the |  | the balance |
Description |  | assets |  | balance sheet |  | sheet |  | of assets |  | balance sheet |  | sheet |
Derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |  |
Trading assets |  | - |  | - |  | - |  | 146 |  | (27) |  | 119 |
Derivative financial instruments used for hedging - receivable |  | 15,217 |  | - |  | 15,217 |  | 19,239 |  | - |  | 19,239 |
Total derivative financial instruments |  | 15,217 |  | - |  | 15,217 |  | 19,385 |  | (27) |  | 19,358 |
| b) | Financial liabilities and derivative financial instruments - liabilities
December 31, 2013 |
|  |  |  |  |  |  |  | Gross amounts not offset in the |  |  |
(In thousands of US$) |  |  |  |  |  |  |  | balance sheet |  |  |
|  |  |  |  |  | Net amount of |  |  |  |  |  |  |
|  |  |  | Gross amounts |  | liabilities |  |  |  | Cash |  |  |
|  | Gross amounts |  | offset in the |  | presented in the |  | Financial |  | collateral |  | Net |
Description |  | of liabilities |  | balance sheet |  | balance sheet |  | instruments |  | pledged |  | amount |
Securities sold under repurchase agreements |  | 286,162 |  | - |  | 286,162 |  | (285,471) |  | (691) |  | - |
Derivative financial instruments |  | 8,644 |  | - |  | 8,644 |  | - |  | (5,340) |  | 3,304 |
Total |  | 294,806 |  | - |  | 294,806 |  | (285,471) |  | (6,031) |  | 3,304 |
December 31, 2012 |
|  |  |  |  |  |  |  | Gross amounts not offset in the |  |  |
(In thousands of US$) |  |  |  |  |  |  |  | balance sheet |  |  |
|  |  |  |  |  | Net amount of |  |  |  |  |  |  |
|  |  |  | Gross amounts |  | liabilities |  |  |  | Cash |  |  |
|  | Gross amounts |  | offset in the |  | presented in the |  | Financial |  | collateral |  | Net |
Description |  | of liabilities |  | balance sheet |  | balance sheet |  | instruments |  | pledged |  | amount |
Securities sold under repurchase agreements |  | 158,374 |  | - |  | 158,374 |  | (157,705) |  | (669) |  | - |
Derivative financial instruments |  | 44,078 |  | (27) |  | 44,051 |  | - |  | (10,849) |  | 33,202 |
Total |  | 202,452 |  | (27) |  | 202,425 |  | (157,705) |  | (11,518) |  | 33,202 |
The following table presents the reconciliation of liabilities that have been offset or are subject to master netting agreements to individual line items in the balance sheet as of December 31, 2013 and 2012:
(In thousands of US$) |  |  |  | 2013 |  |  |  |  |  | 2012 |  |  |
|  |  |  |  |  |  |  |  |  | Gross |  |  |
|  |  |  | Gross |  | Net amount of |  |  |  | amounts |  | Net amount of |
|  |  |  | amounts |  | liabilities |  |  |  | offset in the |  | liabilities |
|  | Gross amounts |  | offset in the |  | presented in the |  | Gross amounts |  | balance |  | presented in the |
Description |  | of liabilities |  | balance sheet |  | balance sheet |  | of liabilities |  | sheet |  | balance sheet |
Securities sold under repurchase agreements |  | 286,162 |  | - |  | 286,162 |  | 158,374 |  | - |  | 158,374 |
Derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |  |
Trading liabilities |  | 72 |  | - |  | 72 |  | 32,331 |  | (27) |  | 32,304 |
Derivative financial instruments used for hedging - payable |  | 8,572 |  | - |  | 8,572 |  | 11,747 |  | - |  | 11,747 |
Total derivative financial instruments |  | 8,644 |  | - |  | 8,644 |  | 44,078 |  | (27) |  | 44,051 |

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- Definition Disclosure of derivative and other financial assets and liabilities that are subject to offsetting, including master netting arrangements. + References No definition available. + Details
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