2011 Annual Report Financial Supplements - BDO

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The aggregate contractual or notional amount of derivative financial instruments and the totalfair values of derivative financial assets and liabilities are shown below.BDO Unibank Group2011 2010Notional Fair Values Notional Fair ValuesAmount Assets Liabilities Amount Assets LiabilitiesCurrency forwards/futures P 262,018 P 1,617 P 1,765 P 272,670 P 2,110 P 2,200Currency swaps 78,474 1,899 1,320 70,016 2,474 1,899Interest rate swaps 17,415 183 229 15,490 475 575Credit default swaps 2,195 14 5 2,077 1 2Others - 26 1 1,320 50 39Parent BankP 360,102 P 3,739 P 3,320 P 361,573 P 5,110 P 4,7152011 2010Notional Fair Values Notional Fair ValuesAmount Assets Liabilities Amount Assets LiabilitiesCurrency forwards/futures P 261,585 P 1,020 P 1,165 P 217,077 P 1,509 P 1,564Currency swaps 26,417 649 496 33,565 1,373 1,059Interest rate swaps 16,088 181 210 10,961 448 504Credit default swaps 2,195 14 5 440 - 2Others - 26 1 1,320 49 39P 306,285 P 1,890 P 1,877 P 263,363 P 3,379 P 3,168In 2008, BDO Unibank Group reclassified certain equity securities from FVTPL to AFS anddebt securities and embedded derivatives of CLNs from FVTPL to HTM and Loans andOther Receivables, respectively (see Note 9.04).Derivatives embedded in CLNs and CLDs amounting to P183 and P70 in BDO UnibankGroup and Parent Bank financial statements, respectively, as of reclassification date, werereclassified to Loans and Other Receivables together with their related host contracts(see Note 9.04).A CLN is an instrument under which the issuer issues a note to the investor whereby bothparties agree that upon the occurrence of a credit event in relation to the reference entity, theCLN accelerates and the investor is delivered the defaulted asset of the reference entity, orpaid a net settlement amount equal to the market price of the defaulted asset or referenceobligation adjusted for any transaction unwind costs.www.bdo.com.ph 89
NOTES TOFINANCIAL STATEMENTSDECEMBER 31, 2011, 2010 AND 2009(Amounts in Millions of Philippine Pesos, Except Per Share Data or As Indicated)9.02 AFS SecuritiesAFS securities consist of the following:BDO Unibank Group Parent BankNote 2011 2010 2011 2010Government debtsecurities P 55,267 P 52,580 P 52,583 P 49,958Other debt securities:Quoted 29,508 30,366 28,951 28,364Not quoted 253 243 253 243Equity securities:Quoted 5,555 6,197 1,877 2,960Not quoted 2,292 2,099 925 72692,875 91,485 84,589 82,251Allowance forimpairment 14 ( 2,950) ( 5,811) ( 1,658) ( 4,526 )As to currency, this account is composed of the following:P 89,925 P 85,674 P 82,931 P 77,725BDO Unibank Group Parent Bank2011 2010 2011 2010Foreign currencies P 66,152 P 48,040 P 63,023 P 44,791Peso 23,773 37,634 19,908 32,934P 89,925 P 85,674 P 82,931 P 77,725Government debt securities issued by the ROP and foreign sovereigns and other debtsecurities issued by resident and non-resident corporations earn interest at annual ratesranging from 0% to 13% in 2011, 0% to 12% in 2010, and 0% to 13% in 2009 both in theBDO Unibank Group and Parent Bank financial statements.As of December 31, 2011 and 2010, other debt securities also include investments in foreignfinancial institutions under bankruptcy amounting to P1,229 and P4,016, respectively, withallowance for impairment on such investments amounted to P1,229 and P4,016, respectively,in the Parent Bank financial statements (see Note 10 for the related interbank loan receivablesfrom these financial institutions). In 2011, the Parent Bank disposed fully impaired debtsecurities issued by a foreign financial institution under bankruptcy amounting to P2,295.The sale resulted to a gain of P640 and is presented as part of Trading gain – net under OtherOperating Income and Expenses (see Note 22). Also, in 2011, collateralized debt obligationsamounting to P477, with full allowance for impairment losses, in the Parent bank financialstatements, respectively, were redeemed at zero.Unquoted equity securities consist of preferred shares and common shares of various unlistedlocal companies.
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REPORT OFINDEPENDENT AUDITORSReport
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STATEMENTS OFINCOMEFOR THE YEARS EN
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BALANCE AT JANUARY 1, 2009 P 23,020
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FOR THE YEARS ENDED DECEMBER 31, 20
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1.02 Approval of Financial Statemen
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(ii) Philippine Interpretation IFRI
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PFRS 7 (Amendment), Financial Instr
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(v)PFRS 9, Financial Instruments: C
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BDO Unibank Group accounts for its
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Regular purchases and sales of fina
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Subsequent to initial recognition,
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Certain derivatives may be designat
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NOTES TOFINANCIAL STATEMENTSDECEMBE
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COMPANY HEADQUARTERSBDO Unibank, In
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2011 Annual Report Financial Supplements - BDO

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