UOB Annual Report 2002 - United Overseas Bank

Notes to the Financial Statements
for the financial year ended 31 December 2002
39 Derivative Financial Instruments (continued)
(b) The Bank
Contract or Trading Derivatives Total Derivatives
Underlying
Principal Fair Values Fair Values
Amount Assets Liabilities Assets Liabilities
$’000 $’000 $’000 $’000 $’000
2002
Foreign Exchange Contracts
Forwards 6,328,130 104,859 52,317 104,914 52,437
Swaps 77,271,888 965,688 997,173 990,022 1,056,782
Options purchased 6,875,269 65,013 – 65,189 –
Options written 8,078,330 – 66,780 – 66,838
Interest Rate Contracts
Forward rate agreements 2,723,680 1,132 2,097 1,132 2,097
Swaps 26,327,718 512,979 619,932 565,239 676,969
Futures 304,926 770 3,033 770 3,033
Options purchased 266,795 1,581 – 2,058 –
Options written 186,795 – – – 477
Equity-Related Contracts
Swaps 48,935 – – 1,942 1,942
Futures 11,221 36 41 36 41
Options purchased 93,692 1,080 – 1,080 –
Options written 158,343 – 6,625 – 6,625
Credit-Related Contracts
Credit default swaps 363,493 116 – 1,152 7,589
129,039,215 1,653,254 1,747,998 1,733,534 1,874,830
2001
Foreign Exchange Contracts
Forwards 4,885,902 52,958 54,061 52,958 54,061
Swaps 47,859,314 597,318 560,260 719,917 606,100
Options purchased 2,039,728 17,335 – 17,335 –
Options written 1,678,972 – 14,291 – 14,291
Interest Rate Contracts
Forward rate agreements 28,348 – – 3 –
Swaps 13,022,414 127,014 124,702 145,647 145,141
Futures 560,394 1,035 1,143 1,035 1,143
Options purchased 94,401 – – 416 –
Options written 94,401 – – – 416
Equity-Related Contracts
Futures 16,931 550 – 550 –
Options purchased 33,196 28 – 28 –
Options written 40,703 – 4,809 – 4,809
Credit-Related Contracts
Credit default swaps 25,914 200 217 200 217
70,380,618 796,438 759,483 938,089 826,178
140