Company: WEBNF
Filing Date: 2025-11-04
Form Type: 20-F
Source: 0001104659-25-105894
Chunk: 73

Company: WESTPAC BANKING CORP
Filing Date: 2025-11-04
Form: 20-F
Item: Item 14
Chunk 73
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       246   ​        173
Clearing and settlement balances   ​       530   ​        602   ​       474   ​        480
Accrued fees and commissions       401           276            258           155         
Other                              117           122            117           120         
Total other financial assets            10,766          5,456        10,126          4,951
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WESTPAC GROUP 2025 ANNUAL REPORT
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NOTES TO THE FINANCIAL STATEMENTS

Note 19.Other financial liabilities
Accounting policy​

                                                                                                      Other financial liabilities include liabilities measured at amortised cost as well as liabilities which are measured at FVIS. Financial liabilities measured at FVIS include:                                                                                                       
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●Trading liabilities (i.e. securities sold short); and                                                                                                                                                                                                                                                                                                                                    
●Liabilities designated at FVIS (i.e. certain repurchase agreements).Refer to Note 22 for balances measured at fair value and amortised cost. Repurchase agreements                                                                                                                                                                                                                       
Where 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’). Repurchase agreements are designated at fair value where this eliminates or significantly reduces an accounting mismatch, or they are part of a group of instruments that are managed on a fair value basis. Otherwise they are measured on an amortised cost basis.                              
Where a repurchase agreement is designated at fair value, any changes in fair value (except those due to changes in credit risk) are recognised in the income statement as they arise. The change in fair value that is attributable to credit risk is recognised in OCI except where it would create an accounting mismatch, in which case it is also recognised in the income statement.
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                    ​                        ​      ​       ​       ​      ​      ​       ​       ​   
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​                                            ​              Consolidated   ​             Parent Entity
$m                                           2025          2024            2025          2024         
Repurchase agreements                             14,664          18,848        13,183          16,071
Interbank placements                         ​     6,405   ​       3,635