-
-
-
-
-
-
-
-
-
-
-
Contents Management report Corporate governance Consolidated financial statements Financial statements Pillar 3
these assets can be used to borrow from central banks, used
in repo transactions or in order to sell directly in the market
in order to immediately generate liquidities. The size of the
liquidity buffer is related to the risk to which Rabobank is
exposed through its balance sheet. Rabobank Group has
internally securitiseda portion of its loan portfolio which means
it can be pledged from the central bank and therefore serves
as an additional liquidity buffer. Since this concerns internal
securitisations, solely for liquidity purposes, they are not visible
in the economic balance sheet but are included in the available
liquidity buffer.
The third pillar entails the restriction of liquidity risk through
a prudent funding policy aimed at meeting the financing
requirements of the group's units at acceptable cost.
Diversification of sources of funding and currencies, flexibility
of the funding instruments applied and a hands-on investor
relations approach are key factors.This prevents Rabobank
Group from being overly dependent on a single source
of funding.
Furthermore, scenario analyses are performed each month
to calculate the possible consequences of a wide range of
stress scenarios. Not only market-specific scenarios, but also
Rabobank-specific, as well as a combination of these scenarios,
are analysed. Monthly reports on the liquidity position of the
Group as a whole are submitted to the Dutch Central Bank.
These reports are prepared in accordance with the guidelines
drawn up by this supervisory authority.
The table below shows the non-discounted liabilities of
Rabobank grouped according to the remaining liquidity
period between the reporting date and the expected contract
repayment date.The total amounts do not correspond exactly
with the amounts in the consolidated statement of financial
position because this table is based on non-discounted cash
flows related to both principal and future interest payments.
'Derivatives and other trade liabilities'have not been analysed
on the basis of the contractual due date, because they are not
essential for the management of liquidity risk and for reporting
to the Rabobank management.
Contract repayment date
in millions of euros
On demand
Less than
3 months
3 months
to 1 year
7 -5 years
Longer than
5 years
Total
On 31 December 2015
Liabilities
Due to banks
2,911
9,465
2,521
3,492
795
19,184
Due to customers
245,973
46,182
12,534
13,290
23,848
341,827
Debt securities in issue
117
32,480
48,941
67,701
40,518
189,757
Other liabilities (excluding employee benefits)
1,471
3,467
1,088
614
48
6,688
Financial liabilities designated at fair value
59
615
2,434
4,696
21,088
28,892
Subordinated liabilities
50
10
2,435
21,524
24,019
Total financial liabilities
250,531
92,259
67,528
92,228
107,821
610,367
Financial guarantees
10,402
10,402
in millions of euros
On demand
Less than
3 months
3 months
to 1 year
7 - 5 years
Longer than
5 years
Total
On 31 December 2014
Liabilities
Due to banks
2,480
8,777
1,270
5,015
666
18,208
Due to customers
238,695
44,500
9,987
15,138
23,079
331,399
Debt securities in issue
229
32,350
59,775
67,318
44,938
204,610
Other liabilities (excluding employee benefits)
1,543
4,878
712
811
22
7,966
Financial liabilities designated at fair value
38
684
1,523
5,624
23,553
31,422
Subordinated liabilities
3
1,382
15,340
16,725
Total financial liabilities
242,985
91,189
73,270
95,288
107,598
610,330
Financial guarantees
11,826
11,826
201 Notes to the consolidated financial statements
