Division 9 LOAN COMMITMENTS, FINANCIAL GUARANTEES AND OTHER COMMITMENTS (9)F1

they are subject to impairment requirements of IFRS 9;

they are designated at fair value through profit or loss under IFRS 9;

they are within the scope of IAS 37 or IFRS 4.

‘ Forward deposits ’ ;

‘ Undrawn credit facilities ’ , which comprise agreements to ‘ lend ’ or provide ‘ acceptance facilities ’ under pre-specified terms and conditions.

‘ Guarantees having the character of credit substitute ’ ;

‘ Credit derivatives ’ that meet the definition of financial guarantee;

‘ Irrevocable standby letters of credit having the character of credit substitutes ’ .

‘ Unpaid portion of partly-paid shares and securities ’ ;

‘ Documentary credits issued or confirmed ’ ;

‘ Trade finance off-balance sheet items ’ ;

‘ Documentary credits in which underlying shipment acts as collateral and other self-liquidating transactions ’ ;

‘ Warranties and indemnities ’ (including tender and performance bonds) and ‘ guarantees not having the character of credit substitutes ’ ;

‘ Shipping guarantees, customs and tax bonds ’ ;

‘ Note issuance facilities ’ (NIFs) and ‘ Revolving underwritings facilities ’ (RUFs);

‘ Undrawn credit facilities ’ which comprise agreements to ‘ lend ’ or provide ‘ acceptance facilities ’ where the terms and conditions are not pre-specified;

‘ Undrawn credit facilities ’ which comprise agreements to ‘ purchase securities ’ or ‘ provide guarantees ’ ;

‘ Undrawn credit facilities for tender and performance guarantees ’ ;

‘ Other off-balance sheet items ’ in Annex I to CRR.

‘ Credit derivatives ’ that do not meet the definition of financial guarantees are ‘ derivatives ’ under IFRS 9;

‘ Acceptances ’ are obligations by an institution to pay on maturity the face value of a bill of exchange, normally covering the sale of goods. Consequently, they are classified as ‘ trade receivables ’ on the balance sheet;

‘ Endorsements on bills ’ that do not meet the criteria for derecognition under IFRS 9;

‘ Transactions with recourse ’ that do not meet the criteria for derecognition under IFRS 9;

‘ Assets purchased under outright forward purchase agreements ’ are ‘ derivatives ’ under IFRS 9;

‘ Asset sale and repurchase agreements as referred to in paragraphs 3 and 5 of Article 12 of Directive 86/635/EEC ’ . In those contracts, the transferee has the option, but not the obligation, to return the assets at a price agreed in advance on a date specified or on a date to be specified. Therefore, those contracts meet the definition of derivatives in Appendix A to IFRS 9.