FOREIGN TRADE BANK OF LATIN AMERICA, INC. | CIK:0000890541 | 3

  • Filed: 4/30/2018
  • Entity registrant name: FOREIGN TRADE BANK OF LATIN AMERICA, INC. (CIK: 0000890541)
  • Generator: DataTracks
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/890541/000114420418023750/0001144204-18-023750-index.htm
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    • ifrs-full:DisclosureOfFairValueMeasurementExplanatory

    Financial instruments measured at fair value on a recurring basis by caption on the consolidated statement of financial positions using the fair value hierarchy are described below:
     
     
     
    December 31, 2017
     
     
     
    Level 1(a)
     
    Level 2(b)
     
    Level 3(c)
     
    Total
     
    Assets
     
     
     
     
     
     
     
     
     
     
     
     
     
    Securities at fair value through OCI:
     
     
     
     
     
     
     
     
     
     
     
     
     
    Equity investments
     
     
    8,402
     
     
    -
     
     
    -
     
     
    8,402
     
    Sovereign debt (1)
     
     
    16,733
     
     
    -
     
     
    -
     
     
    16,733
     
    Total securities at fair value through OCI
     
     
    25,135
     
     
    -
     
     
    -
     
     
    25,135
     
    Derivative financial instruments used for hedging – receivable:
     
     
     
     
     
     
     
     
     
     
     
     
     
    Interest rate swaps
     
     
    -
     
     
    129
     
     
    -
     
     
    129
     
    Cross-currency interest rate swaps
     
     
    -
     
     
    4,550
     
     
    -
     
     
    4,550
     
    Foreign exchange forward
     
     
    -
     
     
    8,659
     
     
    -
     
     
    8,659
     
    Total derivative financial instrument used for hedging – receivable
     
     
    -
     
     
    13,338
     
     
    -
     
     
    13,338
     
    Total financial assets at fair value
     
     
    25,135
     
     
    13,338
     
     
    -
     
     
    38,473
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Liabilities
     
     
     
     
     
     
     
     
     
     
     
     
     
    Derivative financial instruments used for hedging – payable:
     
     
     
     
     
     
     
     
     
     
     
     
     
    Interest rate swaps
     
     
    -
     
     
    4,789
     
     
    -
     
     
    4,789
     
    Cross-currency interest rate swaps
     
     
    -
     
     
    30,154
     
     
    -
     
     
    30,154
     
    Total derivative financial instruments used for hedging – payable
     
     
    -
     
     
    34,943
     
     
    -
     
     
    34,943
     
    Total financial liabilities at fair value
     
     
    -
     
     
    34,943
     
     
    -
     
     
    34,943
     
     
     
    (1)
    At December 31, 2017, securities at fair value through OCI for $2,955 were reclassified from level 2 to level 1 of the fair value hierarchy given that Bloomberg's valuation "BVAL" for these values increased from 7 (in 2016) to 10 (in 2017).
     
     
    (a)
    Level 1: Quoted market prices in an active market.
     
    (b)
    Level 2: Quoted market prices in an inactive market or internally developed models with significant observable market.
     
    (c)
    Level 3: Internally developed models with significant unobservable market information.
     
     
     
    December 31, 2016
     
     
     
    Level 1(a)
     
    Level 2(b)
     
    Level 3(c)
     
    Total
     
    Assets
     
     
     
     
     
     
     
     
     
     
     
     
     
    Securities at fair value through OCI:
     
     
     
     
     
     
     
     
     
     
     
     
     
    Corporate debt
     
     
    13,909
     
     
    -
     
     
    -
     
     
    13,909
     
    Sovereign debt
     
     
    13,912
     
     
    2,786
     
     
    -
     
     
    16,698
     
    Total securities at fair value through OCI
     
     
    27,821
     
     
    2,786
     
     
    -
     
     
    30,607
     
    Derivative financial instruments used for hedging – receivable:
     
     
     
     
     
     
     
     
     
     
     
     
     
    Interest rate swaps
     
     
    -
     
     
    363
     
     
    -
     
     
    363
     
    Cross-currency interest rate swaps
     
     
    -
     
     
    2,561
     
     
    -
     
     
    2,561
     
    Foreign exchange forward
     
     
    -
     
     
    6,428
     
     
    -
     
     
    6,428
     
    Total derivative financial instrument used for hedging – receivable
     
     
    -
     
     
    9,352
     
     
    -
     
     
    9,352
     
    Total financial assets at fair value
     
     
    27,821
     
     
    12,138
     
     
    -
     
     
    39,959
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Liabilities
     
     
     
     
     
     
     
     
     
     
     
     
     
    Financial instruments at FVTPL:
     
     
     
     
     
     
     
     
     
     
     
     
     
    Foreign exchange forward
     
     
    -
     
     
    24
     
     
    -
     
     
    24
     
    Total financial instruments at FVTPL
     
     
    -
     
     
    24
     
     
    -
     
     
    24
     
    Derivative financial instruments used for hedging – payable:
     
     
     
     
     
     
     
     
     
     
     
     
     
    Interest rate swaps
     
     
    -
     
     
    3,704
     
     
    -
     
     
    3,704
     
    Cross-currency interest rate swaps
     
     
    -
     
     
    46,198
     
     
    -
     
     
    46,198
     
    Foreign exchange forward
     
     
    -
     
     
    9,784
     
     
    -
     
     
    9,784
     
    Total derivative financial instruments used for hedging – payable
     
     
    -
     
     
    59,686
     
     
    -
     
     
    59,686
     
    Total financial liabilities at fair value
     
     
    -
     
     
    59,710
     
     
    -
     
     
    59,710
     
       
    (a)
    Level 1: Quoted market prices in an active market.
    (b)
    Level 2: Quoted market prices in an inactive market or internally developed models with significant observable market.
    (c)
    Level 3: Internally developed models with significant unobservable market information.