Company: WEBNF
Filing Date: 2025-11-04
Form Type: 20-F
Source: 0001104659-25-105894
Chunk: 68

Company: WESTPAC BANKING CORP
Filing Date: 2025-11-04
Form: 20-F
Item: Item 14
Chunk 68
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 mortgages and continues to recognise the mortgages as financial assets. Through the guarantees and derivatives with the structured entities, Westpac has variable returns from these structured entities and consolidates them.
Repurchase agreementsWhere securities are sold subject to an agreement to repurchase at a predetermined price, they remain recognised in the balance sheet in their original category (i.e. Trading securities or Investment securities).
The cash consideration received is recognised as a liability (Repurchase agreements). Refer to Note 19 for further details.
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WESTPAC GROUP 2025 ANNUAL REPORT
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NOTES TO THE FINANCIAL STATEMENTS

Note 15.Securitisation, covered bonds and other transferred assets (Continued)
The following tables present Westpac’s assets transferred and their associated liabilities.

          ​             ​        ​        ​        ​        ​         ​            ​            ​            ​            ​       
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​                       ​             ​   ​             ​   ​   For those liabilities that only have                              
​                       ​             ​   ​             ​   ​   recourse to the transferred assets:                               
​                       ​      Carrying   ​      Carrying   ​   ​               ​         ​               ​         ​             
​                       ​     amount of   ​     amount of   ​   Fair value of   ​         Fair value of   ​         ​             
​                       ​   transferred   ​    associated   ​   transferred     ​         transferred     ​         Net fair      
$m                               assets       liabilities       assets                    liabilities               value position
Consolidated            ​             ​   ​             ​   ​   ​               ​         ​               ​         ​             
2025                    ​             ​   ​             ​   ​   ​               ​         ​               ​         ​             
Securitisationa                   5,627   ​         5,587   ​   5,627           ​         5,617           ​         10            
Covered bondsb                   42,890   ​        37,671   ​   n/a             ​         n/a             ​         n/a           
Repurchase agreements            15,230   ​        14,664   ​   n/a             ​         n/a             ​         n/a           
Total                            63,747   ​        57,922   ​   5,627           ​         5,617           ​         10            
2024                    ​             ​   ​             ​   ​   ​               ​