Our foreign currency assets and liabilities (F5)

The data: coverage, periodicity and timeliness

Coverage characteristics

Data are published as end of month figures in millions of New Zealand dollars.

The following data is collected and is detailed further in the series description:

• total foreign currency assets
• total foreign currency liabilities
• outstanding foreign currency swap and forward commitments
• other foreign currency commitments
• net open foreign currency position
• net NZD purchased (sold) during the month
• data on liabilities and assets denominated in foreign currency are also included in table R1.

The series starts from July 2004.

Periodicity

Monthly.

Timeliness

We release data on the last week of the month after the end of the reference month. An exception to this is information as at the end of the financial year (June), which we publish in the first week of August.

Access by the public

Statistics release calendar

The statistics release calendar provides a long-term plan of scheduled releases. We update and release it on the first working day of the month.

View the statistics release calendar

Integrity

Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses

We provide this information as a service to the public.

Provision of information about revisions and advance notice of major changes in methodology

Provisional data are italicised. New data, or revised data, are in bold font. We deem data as provisional when a series is under review. This applies to the summary table only and not Excel files. We generally publish revisions when we are next due to update and release the table. Should we need to make revisions more promptly, we will post a special note.

Quality

Dissemination of documentation on methodology and sources used in preparing statistics

We prepare series data in accordance with New Zealand’s generally accepted accounting practice. Specific accounting policies are disclosed in our annual report.

Dissemination of statistics that support statistical cross-checks and provide assurance of reasonableness

Our annual report (subject to audit).

Data are consistent with our liabilities and assets in table R1.

Foreign currency assets and liabilities currency flows

Total foreign currency assets

Foreign currency assets are the aggregate foreign currency assets reported in table R1.

This includes all foreign currency denominated assets on a trade date basis valued using accounting policies disclosed in our annual report.

For clarification, foreign currency denominated assets include:

• cash, marketable securities, accrued interest and derivatives
• amounts receivable under reverse repurchase agreements
• units in the BISIP CNY, Asian Bond Fund 2 and IPG1 (Green Bond)
• the value of securities lent under the securities lending program
• our shareholding in the Bank for International Settlements
• funds invested in foreign currency assets as a result of liquidity management swaps.

Unsettled foreign currency spot and swap transactions are included at the net value of the contract, so that the reported foreign currency asset (or liability) is reduced by the unsettled amount of the New Zealand dollar value the transaction.

Total foreign currency liabilities

Foreign currency liabilities are the aggregate foreign currency liabilities reported in table R1.

This includes all foreign currency denominated liabilities on a trade date basis valued using accounting policies disclosed in our annual report.

For clarification, foreign currency denominated liabilities include:

• liabilities under derivative contracts
• liabilities due under repurchase agreements
• payables for unsettled securities purchases
• contra amounts payable or bonds received as collateral, to be returned under our securities lending program.

Outstanding foreign exchange swap commitments

Generally this represents the outstanding second leg of foreign currency swaps and also includes outright forward transactions. Where the first leg is also unsettled, both legs are netted. A negative number represents a net aggregate obligation to deliver foreign currency under those contracts.

Net open foreign currency position

Our net foreign currency exposure arising from foreign currency assets, foreign currency liabilities and derivative contracts. A positive number represents an aggregate net ‘long’ exposure to foreign currencies. Our long and short exposures to various currencies are netted.

Foreign currency intervention capacity

Foreign currency assets that are readily liquefiable less foreign currency liabilities that fall due in the next 12 months. Excludes balances held to hedge operating and capital expenditure commitments and items that cannot be liquidated easily (BIS share investment and mark to market of swaps). Includes foreign currency-denominated assets held as part of domestic market operations.

Net New Zealand dollars purchased (sold) during the month

The net value of outright sales and purchases of New Zealand dollars on a trade date basis. A positive number represents net purchases of New Zealand dollars during the month. This excludes purchases of foreign currency in respect of our operating expenses that are foreign currency denominated.

Symbols and conventions for summary table

General notes

• Individual figures may not sum to the totals due to rounding
• Percentage changes are calculated on unrounded numbers
• You are free to copy, distribute and adapt these statistics subject to the conditions listed on our copyright page.