My first Publication ocbc_ar17_fullreport_english | Page 258
NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2017
41. FAIR VALUES OF FINANCIAL INSTRUMENTS (continued)
41.3 FAIR VALUE HIERARCHY (continued)
The following table summarises the Group’s assets and liabilities recorded at fair value by level of the fair value hierarchies:
2017
$ million
Recurring fair value measurements
GROUP
Financial assets measured at fair value
Placements with and loans to banks
Debt and equity securities
Derivative receivables
Government treasury bills and securities
Life Assurance Fund investment assets
Total
Non-financial assets measured at fair value
Life Assurance Fund investment properties
Total
Financial liabilities measured at fair value
Derivative payables
Trading portfolio liabilities
Debt issued
Life Assurance Fund financial liabilities
Total
BANK
Financial assets measured at fair value
Placements with and loans to banks
Debt and equity securities
Derivative receivables
Government treasury bills and securities
Total
Financial liabilities measured at fair value
Derivative payables
Trading portfolio liabilities
Debt issued
Total
2016
Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
–
20,795
47
24,295
46,604
91,741 20,204
4,107
6,311
3,182
16,004
49,808 –
738
28
–
1,239
2,005 20,204
25,640
6,386
27,477
63,847
143,554 –
21,069
34
22,338
38,880
82,321 16,556
2,546
7,765
2,029
13,072
41,968 –
239
39
–
1,172
1,450 16,556
23,854
7,838
24,367
53,124
125,739
–
– –
– 1,553
1,553 1,553
1,553 –
– –
– 1,539
1,539 1,539
1,539
70
622
–
1
693 6,370
–
944
365
7,679 14
–
–
–
14 6,454
622
944
366
8,386 91
598
–
–
689 7,348
–
867
733
8,948 35
–
–
–
35 7,474
598
867
733
9,672
–
10,789
4
15,960
26,753 11,681
2,610
5,091
2,122
21,504 –
565
22
–
587 11,681
13,964
5,117
18,082
48,844 –
9,664
2
14,107
23,773 13,484
2,197
6,314
762
22,757 –
72
36
–
108 13,484
11,933
6,352
14,869
46,638
4
622
–
626 4,977
–
944
5,921 8
–
–
8 4,989
622
944
6,555 4
580
–
584 5,973
–
867
6,840 31
–
–
31 6,008
580
867
7,455
During the financial year, the Group transferred financial assets from Level 2 to Level 1 as prices became observable arising from
increased market activity and from Level 1 to Level 2 due to reduced market activity.
256
OCBC ANNUAL REPORT 2017