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54 BANCO DE ORO6. DUE FROM OTHER BANKSThe balance of this account represents regular deposits with the following:ConsolidatedParent2005 2004 2005 2004Local banks P 1,606,680 P 1,564,405 P 1,518,868 P 1,464,918Foreign banks 3,527,659 2,676,861 2,346,326 1,632,321P 5,134,339 P 4,241,266 P 3,865,194 P 3,097,239The breakdown of the account as to currency is as follows:ConsolidatedParent2005 2004 2005 2004United States (U.S.) Dollar P 4,284,958 P 3,241,723 P 2,989,910 P 2,104,865Peso 518,843 378,704 572,380 396,942Other currencies 330,538 620,839 302,904 595,432P 5,134,339 P 4,241,266 P 3,865,194 P 3,097,239Interest rates on these deposits range from 1% to 4% per annum in 2005 and 1% to 2.125% per annum in 2004 in the parent companyfinancial statements and 1% to 6% per annum in 2005 and 1% to 6.4% per annum in 2004 in the consolidated financial statements.7. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSSThis account, stated at market value, is composed of the following:ConsolidatedParent2005 2004 2005 2004Government bonds P 5,988,305 P 13,336,464 P 5,004,550 P 12,105,666Derivative financial assets 1,513,508 336,143 1,240,982 105,814Other debt securities 742 294,513 - -P 7,502,555 P 13,967,120 P 6,245,532 P 12,211,480All financial assets at fair value through profit or loss are held for trading. For government bonds and other debt securities, the amountspresented have been determined directly by reference to published price quoted in an active market. On the other hand, the fair valueof derivative financial assets is determined through valuation technique using net present value of future cash flows method. The Grouprecognized fair value gain on financial assets at fair value through profit or loss amounting to P169,019 and P59,266 in 2005 and 2004,respectively, in the parent company financial statements and P174,326 and P120,742 in 2005 and 2004, respectively, in the consolidatedfinancial statements which were included as part of Trading Gain in the statements of income.Foreign currency denominated securities amounted to P1,420,631 in 2005 and P629,139 in 2004 in the parent company financialstatements and P1,513,242 in 2005 and P774,439 in 2004 in the consolidated financial statements.Derivative instruments used by the Group include foreign currency and interest rate forwards/futures, foreign currency and interest rateswaps, and embedded credit default swaps bifurcated from credit-linked notes or deposits. Foreign currency and interest rateforwards/futures represent commitments to purchase/sell or are contractual obligations to receive or pay a new amount based onchanges in currency rates or interest rates on a future date at a specified price. Foreign currency and interest rate swaps are commitmentsto exchange one set of cash flows for another. The credit default swaps represent commitment of the counterparty to swap the noteand deposit with high yielding securities upon the occurrence of the reference event by the reference entity.The aggregate contractual or notional amount of derivative financial instruments and the total fair values of derivative financial assetsand liabilities are set out below:ConsolidatedNotionalFair ValuesAmount Assets LiabilitiesDecember 31, 2005:Currency forwards/futures P 18,876,345 P 287,764 P 348,124Credit linked notes (see Note 8) 18,751,861 218,286 82,372Credit linked deposits (see Note 10) 3,098,657 21,843 -Currency swaps 2,328,953 398,241 127,104Interest rate swaps 1,602,100 567,036 567,204Credit default swaps 1,592,700 20,217 33,408Currency spot 253,984 121 105P 46,504,600 P 1,513,508 P 1,158,317