Bahamas - FirstCaribbean International Bank

Notes to the Consolidated Financial Statements
October 31, 2007
(expressed in thousands of Bahamian dollars)
6. Financial assets at fair value through profit or loss
Financial assets held for trading
2007 2006
$ $
(Restated)
Government bonds — 495
Corporate bonds 14,904 241,556
Asset-backed securities 380,667 404,132
Other securities – investment fund 394,902 —
790,473 646,183
Add: Interest receivable 1,834 6,098
Total Financial assets held for trading 792,307 652,281
The effective yield on the financial assets held for trading during the year was 3.5%
(2006 – 5.7%).
7. Other assets
2007 2006
$ $
(Restated)
Branch clearings 13,593 10,726
Suspense accounts 2,070 (1,999)
Other accounts receivable, including clearings 16,056 26,731
Prepayments and deferred items 943 1,153
Due from related party — 3,000
8. Investment securities
Loans and advances to customers
2007 2006
$ $
(Restated)
Issued or guaranteed by Governments
– Debt securities — 156,898
Available-for-sale securities
Government bonds 475,208 402,850
Corporate bonds 404,552 133,363
Total available-for-sale securities 879,760 536,213
879,760 693,111
Add: Interest receivable 13,401 13,454
Total investment securities 893,161 706,565
Debt securities issued or guaranteed by the Government of The Bahamas amounted
to $132,574 (2006 – $136,700). Government bonds include US Treasury Notes of
$271,837, all of which have been pledged in support of the repurchase agreements
described in Note 15. The effective yield during the year on investment securities
was 6.4% (2006 – 6.2%).
32,662 39,611
The amount due from related party at October 31, 2006 was due on demand from
Barclays Bank PLC and is interest-free.
See Auditors’ Report Page 56.
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