In the meantime CBUAE's held-to-maturity securities
rose to around Dh41.65 billion in May, with other foreign assets up to Dh15.1 billion during the monitored period.
Asset growth since September 30, 2017 resulted primarily from a USD224m increase in net loans receivable and a USD119m increase in held-to-maturity securities
Since September 30, 2016, cash and cash equivalents decreased USD 137 million or 30.5% while available-for-sale securities decreased USD 657 million or 34.2% and held-to-maturity securities
slightly offset these with an increase of USD 229 million or 16.2%.
In June 2016, BPI sold a portion of held-to-maturity securities
to fund loan growth, reduce high cost deposits and enhance capital.
have risen in value during the same period from Dh101.46 billion to Dh104.33 billion, while "other foreign assets" increased from Dh5.29 billion to Dh6.36 billion.
The Bank's long-term held-to-maturity securities
portfolio, which is comprised substantially of U.S.
Central's decision to reclassify $9.3 billion worth of held-to-maturity securities
to available-for-sale, McKechnie confirmed, with the balance representing additional loss of value experienced during the quarter.
Under SFAS 115, MBSs are classified into one of three categories: trading securities, held-to-maturity securities
, or available-for-sale securities.
Were any declines in the fair value of available-for-sale or held-to-maturity securities
deemed to be impaired?
81 says auditors ordinarily should obtain written representations from management confirming, with respect to held-to-maturity securities
, that management has the intent and the entity has the ability to hold such securities to maturity.
Excluding one-off income from sale of held-to-maturity securities
in June 2016, net income for the first semester went up by 48 percent, the bank said in a regulatory filing on Thursday.