Financial Position 1 Liabilities Derivative Financial Instruments SNA 2008 Amount The value of derivative instruments in a liability position, that meet the international economic statistical reporting requirements as prescribed by the 2008 System of National Accounts (SNA 2008) and Balance of Payments Manual 6 (BPM6). SNA 2008 derivative contracts in a liability position are those: with a negative mark to market value at the end of the quarter; or that matured during the quarter with a negative mark to market value (requiring a net payment on settlement). This is a divergence in reporting requirements from Australian Accounting Standards Board (AASB). Assets and liabilities of derivatives are reported separately on a gross basis, no netting or offsetting. Exclude employee stock options. Exclude buy-sellback and sell-buyback transactions. Refer to Reporting Practice Guide RPG 701.0 ABS/RBA Reporting Concepts for the EFS Collection. Liabilities Derivative Financial Instruments SNA 2008 Transactions Amount The net settlements of SNA 2008 derivative contracts in a liability position. SNA 2008 derivative contracts in a liability position are those: with a negative mark to market value at the end of the quarter; or that matured during the quarter with a negative mark to market value (requiring a net payment on settlement). It includes the payment to initiate the contract less the payment to settle the contract within the period; and associated cash flows such as interest payments, premiums and variation margins (where they are regarded as clearing the derivative). Assets and liabilities of derivatives are reported separately on a gross basis, no netting or offsetting. Liabilities Derivatives SNA 2008 Revaluations Amount The holding gains and losses arising from changes in market prices of the SNA 2008 derivative contracts in a liability position. SNA 2008 derivative contracts in a liability position are those: with a negative mark to market value at the end of the quarter; or that matured during the quarter with a negative mark to market value (requiring a net payment on settlement). It includes accrued interest (e.g. swap coupons); and other changes that are not transactions related (such as write offs resulting from court-ordered liquidation). Assets and liabilities of derivatives are reported separately on a gross basis, no netting or offsetting.