Telstra 2007 Annual Report Download - page 247

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Telstra Corporation Limited and controlled entities
244
Notes to the Financial Statements (continued)
(b) Risks and mitigation (continued)
Market risk (continued)
(i) Interest rate risk (continued)
The exposure to interest rate changes and the contractual repricing
timeframes on our floating rat e financial instruments, which do not
have offsetting risk positions, are shown in Table F below. Floating
rate derivat ive instruments which do not have offsett ing risk positions
comprise cross currency swaps used to hedge our net foreign
investments, floating Australian dollar (AUD) payable legs on our
cross currency and interest rate swaps used to hedge our borrowings.
The amounts presented in Table F represent the notional / principal
amounts on which interest is calculated.
34. Financial and capital risk management (continued)
Contractual repricing dates
Notional / Principal amounts
6 months or less
Contractual repricing dates
Notional / Principal amounts
within 6 to 12 months
Table F Telstra Group Telstra Entity Telstra Group Telstra Entity
As at 30 June As at 30 June As at 30 June As at 30 June
2007 2006 2007 2006 2007 2006 2007 2006
$m $m $m $m $m $m $m $m
Floating rate
instruments
Financial assets
Cash at bank . . . . . . 188 181 40 32 ----
Promissory notes . . . 582 451 452 387 ----
Cross currency swaps . 53 -53 -----
Financial liabilit ies
Promissory notes . . . 1,435 1,457 1,435 1,457 ----
Int erest rat e swaps . . 310 450 310 450 610 -610 -
Cross currency swaps . 4,552 4,735 4,552 4,735 ----
Bank loans . . . . . . . -111 -110 ----