Page 167 - Hong Kong Housing Society 香港房屋協會 - Annual Report 2019 年報

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5. Financial risk management objectives and 5. 財務風險管理目標及政策（續）

policies (continued)
(a) Credit risk (continued) (a) 信貸風險（續）
Maximum exposure and year-end staging as at 31 March 於二零一八年三月三十一日承
2018 受的最高風險和年末階段

For bank deposits, the Housing Society limits its exposure by 在限制銀行存款風險，房屋協
placing funds only with investment grade licensed banks as 會只存款於由香港金融管理局
approved by Hong Kong Monetary Authority. To ensure there 發牌的投資級別銀行。為確保
is no significant concentration of credit risk to a single 在單一交易對手中並無過度集
counterparty, procedures are in place to ensure diversification 中的信貸風險，一些程序已定
and the bank deposits placed with each counterparty are 立以確保分散投資，而每一交
subject to a maximum limit and this limit is monitored on an 易對手的存款量亦已設有上限，
on-going basis. 該上限亦定時就其交易對手的
最新信貸評級及財務資料作出
檢討及修訂。

For fixed income investments, most of the holdings are of 在固定收益組合投資方面，大
investment grades securities and there are restrictions on the 部分持有的是投資級別的證券，
holding limit of below investment grades securities. 並有對低於投資等級證券持有
限制。

The Housing Society has no significant concentration of credit 因房屋協會的信貸風險分散於
risk, with exposure spread over a number of counterparties. 眾多交易對手中，所以風險並
不集中。

(b) liquidity risk (b) 流通風險
Liquidity risk is the risk that the Housing Society is not able to 流通風險是指房屋協會未能償
meet its obligations and commitments as they fall due. All the 付到期清繳的責任及承擔的風
Housing Society’s investments are kept sufficiently liquid and 險。所有房屋協會的投資是會
readily realisable to meet operation needs and any unexpected 保持足夠的流通性及能即時變
cash demands. In addition, the Housing Society also monitors 現的，以配合營運需要及償付
the liquidity risk by performing cash flow analysis on a regular 非預期的現金需求。此外，房
basis. 屋協會亦定期擬備現金流量分
析用來監控其流通風險。

Apart from certain accounts payable and loans from 除 財 務 報 表 附 註 十 九 以 及
government which are not expected to be settled within one 二十二披露某部分的應付賬項
year after the end of the reporting period as disclosed in notes 及政府貸款將於一年以後到期
19 and 22 to the financial statements, all other financial 外，其他無利息負債將於一年
liabilities, which are non-interest bearing, are expected to be 內到期償還。
settled within one year.

香港房屋協會 2018/19 年度年報