KB prezent. angl - Komerční banka

160 ➔161
Consolidated Financial Statements
under IFRS
Average interest rates as of 31 December 2003:
% CZK USD EUR
Assets
Cash and balances with the CNB 1.35 x x
Treasury bills and other bills eligible for refinancing 2.33 x x
Amounts due from banks 2.20 2.35 0.05
Loans to customers 5.37 3.07 3.69
Interest earning securities 5.71 2.90 3.14
Total assets 3.43 2.801.45
Total interest earning assets 3.68 2.82 1.50
Liabilities
Amounts owed to banks 2.50 0.99 0.05
Amounts owed to customers 0.97 0.26 0.88
Certificated debt 6.89 x x
Total liabilities 1.18 0.44 0.80
Total interest bearing liabilities 1.37 0.45 0.86
Note: The above table sets out the average interest rates for December 2003 calculated as a weighted average for each asset and liability
category.
(E) Liquidity risk
Liquidity risk is a measure of the extent to which the Group may be required to raise funds to meet its commitments associated with
financial instruments.
Liquidity risk management is based upon the liquidity risk management system approved by the Group’s management which
complies with the CNB Regulation on banking liquidity management principles and covers the other needs/requirements of the Group
in respect of liquidity risk management. Liquidity is monitored on a Group wide level, with the Market Book also having a stand-alone
limit. The Group has established its liquidity risk management rules such that it maintains its liquidity profile in normal conditions
(basic liquidity scenario) and in crisis conditions (crisis liquidity scenario). As such, the Group has defined a set of indicators for which
binding limits are established.
The Group is exposed to daily calls on its available cash resources from derivatives, overnight deposits, current accounts, maturing
deposits, loan draw-downs and guarantees. The Group does not maintain cash resources to meet all of these needs as experience
shows that a minimum level of reinvestment of maturing funds can be predicted with a high level of certainty. The Group sets limits
on the minimum proportion of maturing funds available to meet such calls and on the minimum level of interbank and other
borrowing facilities that should be in place to cover withdrawals at unexpected levels of demand.
The Group provides the Czech National Bank with a “Summary of actual remaining maturities of assets and liabilities” and
a “Summary of estimated remaining maturity of assets and liabilities” on a monthly basis.
The table below provides an analysis of assets, liabilities and shareholders’ equity into relevant maturity groupings based on the
remaining period from the balance sheet date to the contractual maturity date pursuant to CNB methodology. Those assets and
liabilities that do not have a contractual maturity date are grouped together in the “maturity undefined” or “on demand” category.
The “on demand” category principally consists of all current accounts of banks and clients.