Macau EconoMy 12014DISCLOSURE

OF FINANCIAL INFORMATION JUNE

Macau EconoMy 2

1 BalancE shEEt ...............................................................................................................................................................................3

2 Profit and loss account 6

3 list of thE sharEholdErs with qualifying holdings 9

4 naMEs of thE MEMBErs of thE coMPany’s Board .................................................................................................................................................11

5 cash flow statEMEnt 13

6 off-BalancE-shEEt ExPosurEs othEr than dErivativEs transactions 15

7 dErivativEs transactions 17

8 rElatEd Party transactions 19

9 caPital 21

10 crEdit risk 23

11 MarkEt risk ..........................................................................................................................................................................................................27

12 intErEst ratE risk in thE Banking Book 29

13 forEign ExchangE risk 31

14 liquidity risk 33

first half of 2014 unaudited accounts.

Macau EconoMy 3

BalancE shEEt

1

1. BalancE shEEt 4

assEts gross assEts Provisions, aMortiZations and nEt valuE

nEt assEts

cash 1,356,237,281.52 0.00 1,356,237,281.52

dEPosits with aMcM 452,336,641.10 0.00 452,336,641.10

cErtificatEs of indEBtEdnEss issuEd By thE Macau govErnMEnt

5,404,067,871.29 0.00 5,404,067,871.29

accounts rEcEivaBlE 216,425,987.99 0.00 216,425,987.99

dEMand dEPosits with othEr crEdit institutions in Macau

238,993,946.33 0.00 238,993,946.33

dEMand dEPosits with othEr crEdit institutions aBroad

542,158,179.34 0.00 542,158,179.34

gold and silvEr 0.00 0.00 0.00

othEr currEnt assEts 2,311,854.84 0.00 2,311,854.84

crEdit grantEd 19,324,170,479.54 49,999,838.24 19,274,170,641.30

PlacEMEnts with crEdit institutions in Macau 3,427,225,000.00 0.00 3,427,225,000.00

dEPosits with crEdit institutions aBroad 17,764,136,544.98 0.00 17,764,136,544.98

sharEs, Bonds and Equity 837,280,454.30 0.00 837,280,454.30

invEstMEnt of assignEd funds 0.00 0.00 0.00

dEBtors 137,109,663.37 0.00 137,109,663.37

othEr PlacEMEnts 0.00 0.00 0.00

financial invEstMEnts 8,938,633.93 0.00 8,938,633.93

ProPErty 1,415,870,410.08 69,993,674.16 1,345,876,735.92

EquiPMEnt 123,753,159.37 89,341,450.23 34,411,709.14

dEfErrEd cost 58,021,984.28 37,719,769.69 20,302,214.59

start-uP ExPEnditurE 0.00 0.00 0.00

fixEd assEts in ProgrEss 0.00 0.00 0.00

othEr fixEd assEts 1,834,396.65 0.00 1,834,396.65

intErnal and adJustMEnt accounts 691,111,846.56 0.00 691,111,846.56

TOTAL 52,001,984,335.47 247,054,732.32 51,754,929,603.15

BALANCE SHEET AT 30 JUNE 2014

MoP

liaBilitiEs suB-total total

Bank notEs in circulation 5,450,555,980.00

currEnt dEPosits 16,129,022,771.43

dEPosits at call 0.00

tiME dEPosits 8,845,851,294.59 24,974,874,066.02

govErnMEnt dEPosits 13,745,413,329.54

aMounts duE to crEdit institutions in Macau 160,022,443.49

aMounts duE to othEr local EntitiEs 0.00

aMounts duE to crEdit institutions aBroad 1,036,128,441.80

assignEd funds 0.00

chEquEs and ordErs PayaBlE 2,468,819.65

crEditors 201,610,562.05

othEr liaBilitiEs 158,010,140.14 15,303,653,736.67

intErnal and adJustMEnt accounts 521,105,885.97

Provisions for risks 222,010,271.00

caPital 2,000,000,000.00

othEr rEsErvEs 3,075,478,635.87 5,075,478,635.87

nEt Profit Brought forward 0.00

nEt Profit for thE PEriod 207,251,027.62

TOTAL 51,754,929,603.15

BALANCE SHEET AT 30 JUNE 2014

MoP

1. BalancE shEEt 5

Macau EconoMy 6

Profitand loss account

2

dEBit aMount

cost of crEdit oPErations 187,839,413.50

PErsonnEl costs 93,527,794.13

rEMunEration of Board of dirEctors and suPErvisory coMMittEE

4,272,732.00

salariEs and wagEs 76,961,391.16

BEnEfits 11,392,112.70

othErs 901,558.27

third Party suPPly 6,110,545.02

third Party sErvicEs 41,708,277.89

othEr Banking costs 89,235,140.80

taxation 527,652.18

costs of non-Banking oPErations 1,367,561.23

dEPrEciation allowancEs 21,085,385.28

Provision allowancEs 37,651,017.25

oPErating Profit 228,800,934.07

TOTAL 707,853,721.35

crEdit aMount

incoME froM crEdit oPErations 445,985,548.63

incoME froM Banking sErvicEs 182,961,120.48

incoME froM othEr Banking sErvicEs 30,162,689.31

incoME froM sEcuritiEs and Equity invEstMEnts

293,442.01

othEr Banking incoME 43,591,700.15

incoME froM non-Banking oPErations

4,859,220.77

oPErating loss 0.00

TOTAL 707,853,721.35

PROFIT AND LOSS ACCOUNT AT 30 JUNE 2014oPErating account

MoP

2. Profit and loss account 7

dEBit aMount

oPErating loss 0.00

lossEs rElatEd to PrEvious yEars 0.00

ExcEPtional lossEs 0.00

Profit tax Provision 26,674,615.00

Profit for thE PEriod 207,251,027.62

TOTAL 233,925,642.62

crEdit aMount

oPErating Profit 228,800,934.07

Profit rElatEd to PrEvious yEars 5,124,708.55

ExcEPtional Profits 0.00

Provisions usEd uP 0.00

loss for thE PEriod 0.00

TOTAL 233,925,642.62

chiEf accountant

Maria clara fong

PrEsidEnt of thE ExEcutivE coMMittEE

Pedro Manuel de oliveira cardoso

PROFIT AND LOSS ACCOUNT AT 30 JUNE 2014statEMEnt of Profit and loss

MoP

2. Profit and loss account 8

Macau EconoMy 9

listof thE sharEholdErs

with qualifying holdings

3

Banco nacional ultraMarino, s.a.

list of the shareholders with qualifying holdings

• Caixa Geral de Depósitos, S.A. 99.425 %

LIST OF THE SHAREHOLDERS wITH qUALIFyINg HOLDINgS

3. list of thE sharEholdErs with qualifying holdings 10

Macau EconoMy 11

naMEs of thE MEMBErsof thE coMPany’s Board

4

Board of thE gEnEral MEEting

Chairman Joaquim Jorge Perestrelo neto valente

ViCe-Chairman liu chak wan

Board of dirEctors

Chairman caixa gEral dE dEPÓsitos, s.a., Represented by

nuno Maria Pinto de Magalhães fernandes thomaz

ViCe-Chairman: Pedro Manuel de oliveira cardoso

members kan cheok kuan

Pedro Miguel canales Escudero until 30th June, 2014

Alberto Manuel Sarmento Azevedo Soares

Paul tse see fan

armando Mata dos santos from 28th March 2014

leandro rodrigues da graça silva from 5th June 2014

ExEcutivE coMMittEE

President Pedro Manuel de oliveira cardoso

members kan cheok kuan

Pedro Miguel canales Escudero until 30th June, 2014

leandro rodrigues da graça silva from 5th June 2014

solE suPErvisor chui sai cheong

coMPany’s sEcrEtary Maria de lurdes nunes Mendes da costa

BANCO NACIONAL ULTRAmARINO, S.A.names OF the members OF the COmPanY’s bOard

4. naMEs of thE MEMBErs of thE coMPany’s Board 12

Macau EconoMy 13

cash flow statEMEnt

5

5. cash flow statEMEnt 14

oPErating activitiEs aMount

Profit BEforE tax 233,925,643

adJustMEnts for:

dEPrEciation of ProPErtiEs and EquiPMEnt 21,085,385

Provision for douBtful loans and advancEs to custoMErs 32,526,309

intErEst incoME froM invEstMEnts in dEBt sEcuritiEs (7,293,507)

intErEst incoME (438,692,042)

intErEst ExPEnsE 187,839,414

dividEnd incoME froM unlistEd Equity invEstMEnts (136,356)

nEt gain on disPosal of ProPErtiEs and EquiPMEnt (23,433,949)

aMortisation of discounts / PrEMiuMs on dEBt sEcuritiEs, nEt 347,714

ExchangE adJustMEnts 6,103,412

oPErating cash flows BEforE MovEMEnts in working caPital 12,272,023

dEcrEasE in PlacEMEnts with Banks and othEr financial institutions with original Maturity MorE than thrEE Months 1,327,010,687

incrEasE in dEBt cErtificatEs issuEd By thE Macau govErnMEnt (429,290,873)

incrEasE in loans and advancEs to custoMErs (2,464,830,174)

incrEasE in othEr assEts (308,756,560)

dEcrEasE in dEPosits and BalancEs with Banks and othEr financial institutions (104,546,203)

dEcrEasE in dEPosits froM custoMErs (5,834,597,090)

incrEasE in Bank notEs in circulation 280,947,700

incrEasE in othEr liaBilitiEs 40,771,809

cash usEd in oPErations (7,481,018,681)

Macau coMPlEMEntary tax Paid -

intErEst rEcEivEd 438,269,332

intErEst Paid (144,138,160)

NET CASH uSEd iN OPERATiNG ACTiViTiES (7,186,887,509)

CASH FLOw STATEmENTFOR THE PERIOD ENDED AT 30 JUNE 2014

MoP

invEsting activitiEs aMountintErEst rEcEivEd froM invEstMEnts in dEBt sEcuritiEs 12,279,189

dividEnds rEcEivEd froM unlistEd Equity invEstMEnts 136,356

PurchasEs of invEstMEnts in sEcuritiEs (409,182,171)

ProcEEds froM disPosal and rEdEMPtion of invEstMEnts in sEcuritiEs 25,316,031

PurchasEs of ProPErtiEs and EquiPMEnt (10,362,694)

ProcEEds froM disPosal of ProPErtiEs and EquiPMEnt 39,215,300

NET CASH uSEd iN iNVESTiNG ACTiViTiES (342,597,989)

MoP

financing activitiEs aMount

dividEnd Paid (201,292,917)

NET CASH uSEd iN FiNANCiNG ACTiViTiES (201,292,917)

NET dECREASE iN CASH ANd CASH EQuiVALENTS (7,730,778,415)

CASH ANd CASH EQuiVALENTS AT 1 JANuARY 17,987,228,213

CASH ANd CASH EQuiVALENTS AT 31 dECEMBER 10,256,449,798

rEPrEsEntEd By

cash and short-tErM funds 2,589,726,048

PlacEMEnts with Banks and othEr financial institutions with original Maturity at or within thrEE Months

7,666,723,750

10,256,449,798

MoP

Macau EconoMy 15

off-BalancE-shEEtExPosurEs othEr than

dErivativEs transactions

6

othEr than dErivativEs transactions 16

aMount

a) crEdit suBstitutEs -

B) transaction-rElatEd contingEnciEs 2,683,087

c) accEPtancEs and othEr tradE-rElatEd contingEnciEs 119,987

d) notE issuancE facilitiEs, rEvolving undErwriting facilitiEs and othEr siMilar facilitiEs -

E) forward assEt PurchasEs -

f) unPaid Portion of Partly Paid sharEs and othEr sEcuritiEs -

g) forward forward dEPosits -

h) assEt salEs with rEPurchasE oPtion -

i) undrawn crEdit facilitiEs and othEr coMMitMEnts to ExtEnd crEdit 7,224,309

J) othEr off-BalancE-shEEt itEMs 226,598,310

OFF-BALANCE-SHEET ExPOSURES OTHER THAN DERIvATIvES TRANSACTIONSCONTRACTUAL OR NOTIONAL AmOUNT OF EACH mATERIAL CLASS OF OFF-BALANCE-SHEET ExPOSURES AT 30 JUNE 2014

6. off-BalancE-shEEt ExPosurEs 

MoP thousand

Macau EconoMy 17

dErivativEstransactions

7

7. dErivativEs transactions 18

ELEMENTS NOMiNAL VALuE

intErEst ratE contracts 275,875

ExchangE ratE contracts 9,872,394

EquitiEs contracts -

coMModitiEs contracts -

othErs -

ELEMENTS WEiGHTEd ExPOSuRE

intErEst ratE contracts 276

forEign ExchangE ratE contracts 39,490

DERIvATIvES TRANSACTIONSCONTRACTUAL AmOUNT OR NOTIONAL AmOUNT AT 30 JUNE 2014

CREDIT RISk wEIgHTED AmOUNTS OF INTEREST RATE CONTRACTS AND ExCHANgE RATE CONTRACTS AS CALCULATED IN ACCORDANCE wITH NOTICE 013/93-AmCm AT 30 JUNE 2014

MoP thousand

MoP thousand

Macau EconoMy 19

rElatEdParty transactions

8

8. rElatEd Party transactions 20

RELATED PARTy TRANSACTIONS AT 30 JUNE 2014QuANTiTATiVE diSCLOSuRE

dEBiT BALANCES 13,472,829

intErBank assEts 12,631,815

cErtificatEs of dEPosit -

sundry invEstMEnts 697,184

loans grantEd -

othEr assEts 126,814

oPErating cost 17,016

CREdiT BALANCES 1,156,822

dEPosits of non-Bank custoMErs -

cErtificatEs of dEPosit -

intErBank liaBilitiEs 1,011,460

othEr liaBilitiEs 10,676

oPErating incoME 134,686

MoP thousandaMount

Macau EconoMy 21

caPital

9

9. caPital 22

own funds & solvEncy ratio

corE caPital - Paid uP sharE caPital 2,000,000

lEgal, statutory and othEr rEsErvEs which arE crEatEd froM aPProPriation of rEtainEd Profits

1,927,123

thE total aMount of suPPlEMEntary caPital 1,369,780

othEr dEduction froM caPital -

thE total aMount of own funds aftEr dEduction 5,296,903

oPErational risk adJustEd solvEncy ratio 22.68%

SOLVENCY RATiO OF THE HOLdiNG COMPANY

caixa gEral dE dEPÓsitos grouP 13.4%

iTS SiGNiFiCANT BANk SuBSidiARiES

caixa - Banco dE invEstiMEnto, s.a. Portugal 14.8%

MErcantilE lisBon Bank holdings, ltd. south africa 21.8%

Banco caixa gEral Brasil, s.a. BraZil 19.9%

Banco caixa gEral, s.a. sPain 16.1%

Banco coMErcial do atlântico, s.a. caPE vErdE 12.7%

Banco coMErcial E dE invEstiMEntos, s.a. MoZaMBiquE 10.4%

Banco intEratlântico, s.a. caPE vErdE 13.0%

CAPITALAT 30 JUNE 2014

MoP thousand

Macau EconoMy 23

crEdit risk

10

10. crEdit risk 24

COuNTRY COdE

NAME LOANS ANd AdVANCES

LOANS ANd AdVANCES PAST duE

SPECiFiC PROViSiON

dEBT SECuRiTiES

iNTERBANk ASSETS

GOVERNMENTANd / OR PuBLiC SECTOR

FiNANCiAL dERiVATiVES

EQuiTY iNVESTMENT

aE unitEd araB EMiratEs

331,340 - - - -

ao angola 79,963 - - - -

au australia - 72,126 - - -

BE BElgiuM - - - - -

Bd BangladEsh - - - -

Br BraZil 450,104 - - 275,876 -

ca canada - - 54 - -

ch switZErland - - 1,895 - -

cn china - 55,303 3,011,504 - -

ky cayMan islands 14,517 - - - -

dE gErMany 5,447 - 1,233 - -

dk dEnMark - - - - -

Es sPain (EsPana) - - - -

fr francE - 261,444 7,913 - -

gB unitEd kingdoM - - 527,866 8,194,638 -

hk hong kong 379,908 12,667 2,580,866 1,579,122 7,674

id indonEsia - - - -

in india 523 - 1,126 - -

it italy - - 825 - -

JP JaPan - - 38,049 - -

lu luxEMBourg - - 8 - -

Mo Macau 15,355,850 92,256 (50,000) - 860,219 2,806,000 - 1,265

MZ MoZaMBiquE - - 252,298 - -

Mu Mauritius - - - - -

My Malaysia 223,555 - - - -

nl nEthErlands - - - - -

no norway - - 14 - -

nZ nEw ZEaland - - 161 - -

Pl Poland - -

Pt Portugal 326,805 435,740 11,856,199 98,634 -

ru russian fEdEration

- - - -

sa saudi araBia - - - -

sg singaPorE 389,385 - 9,373 - -

sk slovakia(slovak rEPuBlic)

- - 5,145 - -

sE swEdEn - - - - -

tr turkEy - - -

us unitEd statEs 1,594,677 - 11,766 - -

vE vEnEZuEla - - -

vg virgin islands (British)

79,840 - - - -

19,231,914 92,256 (50,000) 837,280 19,166,514 2,806,000 10,148,270 8,939

CREDIT RISk10.1 GeOGraPhiC distributiOn OF exPOsures at 30 june 2014

MoP thousand

10. crEdit risk 25

SECTORS LOANS ANd AdVANCES

LOANS ANd AdVANCES PAST duE

SPECiFiC PROViSiON

CHARGE-OFFS

agriculturE and fishEriEs - - - -

Manufacturing 935,239 5,876 (2,136) -

ElEctricity, gas and watEr 243,463 37 - - construction and PuBlic works 270,050 2 (6) - tradE (wholEsalE and rEtail) 502,655 - (19) -

rEstaurants, hotEls and rElatEd activitiEs 103,950 - (189) -

transPort, warEhousE and coMMunications 169,563 - (6) - individuals for housE PurchasEs 7,970,347 - (16,031) -

individuals for othEr PurPosEs 961,307 39,276 - -

othErs 8,075,340 47,065 (31,613) -

19,231,914 92,256 (50,000) -

CREDIT RISk10.2 industrY distributiOn OF exPOsures at 30 june 2014

MoP thousand

According to AMCM’s requirement, a general provision of 1 % for MOP 222 million was made by the end of the period in order to reach a balance of 1% of the aggregated value of the credits which were not overdue for more than 3 months and of guarantees.

10. crEdit risk 26

10.4 analYsis On Past due assets at 30 june 2014

MoP thousand

PAST duE FOR PAST duE LOANS & AdVANCES (including tradE Bills)

COLLATERAL SPECiFiC PROViSiONS

MorE than 3 Months But not MorE than 6 Months 61,718 67.00% 68,550 3,828

MorE than 6 Months But not MorE than 1 yEar 10,823 12.00% 0 5,802

MorE than 1 yEar 19,715 21.00% 8,166 11,139

TOTAL ASSETS 92,256 100.00% 76,716 20,769

MoP thousandgross aMount of Past duE assEts to non-Bank custoMErs

TYPE OF ACCOuNTS TOTAL REPAYABLE

ON dEMANd

WiTHiN 1 MONTHS (ExcEPt thosE rEPayaBlE on dEMand)

MORE THAN 1 MONTH BuT NOT MORE THAN 3 MONTHS

MORE THAN 3 MONTHS BuT NOT MORE THAN 1 YEAR

MORE THAN 1 YEAR BuT NOT MORE THAN 3 YEARS

MORE THAN 3 YEARS

WiTHiN AN iNdEFiNiTE PERiOd

ASSETS

loans and advancEs to custoMErs

19,231,914 549,063 172,443 189,969 2,217,832 2,091,805 14,010,802 0

cash and BalancEs with and loans and advancEs to Banks

21,972,514 801,570 8,582,763 4,843,413 7,240,121 504,647 0 0

cErtificatEs of dEPosit hEld

0 0 0 0 0 0 0 0

sEcuritiEs issuEd By Macao sar govErnMEnt and /or aMcM

5,404,068 0 5,404,068 0 0 0 0 0

othEr sEcuritiEs 837,280 0 108,935 0 282,273 433,153 12,919 0

TOTAL ASSETS 47,445,776 1,350,633 14,268,209 5,033,382 9,740,226 3,029,605 14,023,721 0

cn - 46,262 672,690 - -

LIABILITIES

dEPosits and BalancEs of Banks and financial institutions

186,445 186,445 0 0 0 0 0 0

dEPosits froM PuBlic sEctor EntitiEs

13,745,413 4,450,584 1,631,523 3,202,500 4,460,806 0 0 0

dEPosits froM holding and associatEd coMPaniEs

1,009,706 2,352 107,354 0 0 0 900,000 0

dEPosits froM non-Bank custoMErs

24,974,874 16,129,022 2,386,885 1,632,881 4,821,937 4,149 0 0

cErtificatEs of dEPosits issuEd

0 0 0 0 0 0 0 0

othEr sEcuritiEs issuEd 0 0 0 0 0 0 0 0

TOTAL LiABiLiTiES 39,916,438 20,768,403 4,125,762 4,835,381 9,282,743 4,149 900,000 0

rEsidual contractual Maturity BrEakdown By tyPEs and rEPayaBlE PEriods

CREDIT RISk10.3 maturitY analYsis On assets and liabilities at 30 june 2014

Macau EconoMy 27

MarkEt risk

11

11. MarkEt risk 28

itEMs aMount

intErEst ratE risk 41,268

Equity Position risk 0

forEign ExchangE risk 568

coMModitiEs risk 0

MARkET RiSk CAPiTAL CHARGES FOR ALL CATEGORiES

41,836

mARkET RISkqUALITATIvE DISCLOSURE OF mARkET RISk AT 30 JUNE 2014

MoP thousand

THE mARkET RISk CAPITAL REqUIREmENTS

Macau EconoMy 29

intErEst ratE riskin thE Banking Book

12

12. intErEst ratE risk in thE Banking Book 30

INTEREST RATE RISk IN THE BANkINg BOOkAT 30 JUNE 2014

MoP thousand

iTEM TiME BANd LONG (A)

(SHORT) (B)

LONG (C)

(SHORT) (d)

MOPTOTAL NET

LONG(SHORT)

(E)

WEiGHiNGFACTOR

WEiGHTEd POSiTiON

LONG /(SHORT)

(F)

1 within 1 day 7,130,290 (12,934,231) - - (5,803,941) 0.00% -

2 >1 to <= 7 days 2,996,058 (848,583) - (14,149) 2,133,326 0.02% 427

3 >7 days to <= 1 Month 505,261 (889,902) - - (384,641) 0.10% (385)

4 >1 to <= 3 Months 914,460 (2,774,166) - (98,700) (1,958,406) 0.32% (6,267)

5 >3 to <= 6 Months 4,185 (4,717,894) - - (4,713,709) 0.72% (33,939)

6 >6 Months to <=1 yEar 19,873 (508,470) - - (488,597) 1.43% (6,987)

7 >1 to <=2 yEars 81,759 (1,277) - - 80,482 2.77% 2,229

8 >2 to <=3 yEars 124,101 (85) - - 124,016 4.49% 5,568

9 >3 to <=4 yEars 56,720 - - - 56,720 6.14% 3,483

10 >4 to <=5 yEars 40,715 - - - 40,715 7.71% 3,139

11 >5 to <=7 yEars 492,256 - - - 492,256 10.15% 49,964

12 >7 to <=10 yEars - - - - - 13.26% -

13 >10 to <=15 yEars - - - - - 17.84% -

14 >15 to <=20 yEars - - - - - 22.43% -

15 ovEr 20 yEars - - - - - 26.03% -

16 wEightEd Position for this currEncy (suM of 1(d) - 15(d)) 17,233

17 wEightEd Position of all othEr currEnciEs 202,017

18 wEightEd Position of all currEnciEs (16(f)+17(f)) 219,250

19 own funds* 5,296,903

20 iMPACT ON ECONOMiC VALuE AS % OF OWN FuNdS* (18(F) AS % OF 19(F)) 4.1%

intErEst ratE ExPosurEs at a shock of 200 Basis Points

Macau EconoMy 31

forEignExchangE risk

13

13. forEign ExchangE risk 32

FOREIgN ExCHANgE RISkAT 30 JUNE 2014

13.1 TOTAL NET LONg AND TOTAL NET SHORT POSITIONS IN FOREIgN CURRENCIES

MoP thousand

CuRRENCY NET OPEN POSiTiONExCLudiNG OPTiON CONTRACTSLONG OR SHORT

NET POSiTiON iN OPTiON CONTRACTS LONG OR SHORT

NET OPEN POSiTiONiNCLudiNG OPTiON CONTRACTSLONG OR SHORT

1. australian dollars (182) (182)

2. canadian dollars (63) (63)

3. chinEsE rEnMinBi 1,787 1,787

4. Euro 2,238 2,238

5. hong kong dollars 14,672,340 14,672,340

6. JaPanEsE yEn 232 232

7. nEw ZEaland dollars 183 183

8. Pound stErling (187) (187)

9. singaPorE dollars (23) (23)

10. swiss francs (59) (59)

11. us dollars 140,708 140,708

12. forEign currEnciEs not sEParatEly sPEicfiEd aBovE, ExcEPt gold 2,665 2,665

13. Macao Patacas (14,819,639)

14. MoP/hkd/usd Position (in aBosolutE valuE) 14,813,048

15. gold -

16. SuM OF NET LONG POSiTiONS uNdER iTEMS 1-13 14,820,153

17. SuM OF NET SHORT POSiTiONS uNdER iTEMS 1-13 (iN ABSOLuTE VALuE) 14,820,153

13.2 wHERE THE NET POSITION (IN ABSOLUTE TERmS) IN A PARTICULAR FOREIgN CURRENCy CONSTITUTES NOT LESS THAN 10% OF THE TOTAL NET POSITION IN ALL FOREIgN CURRENCIES, DISCLOSE IN RESPECT OF THE PARTICULAR CURRENCy ITS NET LONg (OR NET SHORT) POSITION.

AT 30 JUNE 2014

sPot assEts 14,733,595

sPot liaBilitiEs -

forward PurchasEs -

forward salEs (61,255)

nEt oPtions Position -

nEt long Position 14,672,340

HONG kONG dOLLAR in MoP thousand EquivalEnt

Macau EconoMy 33

liquidity risk

14

14. liquidity risk 34

LIqUIDITy RISk AT 30 JUNE 2014

MoP thousand

• thE arithMEtic MEan of thE MiniMuM wEEkly aMount of cash in hand that is rEquirEd to hold during thE rEPorting PEriod

592,479

• thE arithMEtic MEan of its wEEkly aMount of cash in hand during thE rEPorting PEriod 6,473,860

• thE arithMEtic MEan of its sPEcifiEd liquid assEts at thE End of Each Month during thE rEPorting PEriod

40,241,992

• thE avEragE ratio of sPEcifiEd liquid assEt to total Basic liaBilitiEs at thE End of Each Month during thE rEPorting PEriod

162.66%

• thE arithMEtic MEan of its onE-Month liquidity ratio in thE last wEEk of Each Month during thE rEPorting PEriod

148.30%

• thE arithMEtic MEan of its thrEE-Month liquidity ratio in thE last wEEk of Each Month during thE rEPorting PEriod

214.20%