Company: WEBNF
Filing Date: 2025-11-04
Form Type: 20-F
Source: 0001104659-25-105894
Chunk: 36

Company: WESTPAC BANKING CORP
Filing Date: 2025-11-04
Form: 20-F
Item: Item 14
Chunk 36
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,834   ​    62,520
Personal                                                      ​              213   ​                -   ​       213
Business                                                      ​              882   ​            9,613   ​    10,495
Total New Zealand                                             ​            8,781   ​           64,447   ​    73,228
Total other overseas                                          ​            7,751   ​              373   ​     8,124
Total loans maturing after one year                           ​          671,111   ​           83,664   ​   754,775
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FINANCIAL   EXHIBITS INDEX   STRATEGIC   PERFORMANCE   EXHIBIT 15.4   ADDITIONAL 
REPORT                       REVIEW      REVIEW                       INFORMATION
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Note 10.Provision for expected credit losses
Accounting policy ​

                                                                                                                                                                                            Note 6 provides details of impairment charges.Impairment applies to all financial assets at amortised cost, lease receivables, debt securities measured at FVOCI, due from subsidiaries and credit commitments.The ECL is recognised as follows:●Loans (including lease receivables), debt securities at amortised cost and due from subsidiaries: as a reduction of the carrying value of the financial asset through an offsetting provision account (refer to Note 9 and Note 17);●Debt securities at FVOCI: in reserves in OCI with no reduction of the carrying value of the debt security itself (refer to Note 17 and Note 26); and●Credit commitments: as a provision (refer to Note 25).                                                                                                                                                                                            
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Measurement Westpac calculates the provision for ECL based on a three-stage approach. The provision for ECL is a probability-weighted estimate of the cash shortfalls expected to result from defaults over the relevant time frame. They are determined by evaluating a range of possible outcomes and taking into account the time value of money, past events, current conditions and forecasts of future economic conditions.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
The models use three main components to determine the ECL (as well as the time value of money) including:●Probability of default (PD): the probability that a counterparty will default;●Loss given default (LGD): the loss that