Amounts in thousands of EUR | 2022 | 2021 |
|---|---|---|
On demand deposits with banks | 186,272 | 145,276 |
Deposits with banks | 146,027 | 120,588 |
Interest receivable | 201 | -44 |
Allowance for ECL | -7 | -24 |
Balance sheet value as at 31 December | 332,493 | 265,796 |
Received cash collateral regarding forward currency contracts and interest rate swaps is presented as loans and advances to banks. The increase in received cash collateral is caused by fair value changes in interest rate swaps.
An amount of EUR 144.7 million of the deposits is encumbered (2021: EUR 118.2 million). These are on demand deposits at Cecabank for the amount of EUR 1.0 million (2021: EUR 1.0 million), ING Bank EUR 13.0 million (2021: EUR 13.0 million), Banco Cooperativo EUR 1.5 million (2021: EUR 1.5 million), the Dutch Central Bank EUR 50.0 million (2021: EUR 50.0 million), Rabobank EUR 6.7 million (2021: EUR 13.5 million), and ABN AMRO EUR 72.5 million (2021: EUR 39.2 million). There were no deposits subordinated (2021: EUR 1.0 million). All other deposits can be freely disposed of.
The balance sheet value of the loans and advances to banks as at 31 December can be broken down as follows by residual maturity:
Amounts in thousands of EUR | 2022 | 2021 |
|---|---|---|
On demand | 186,444 | 145,217 |
1 to 3 months | 1,358 | 1,426 |
3 months to 1 year | - | - |
1 to 5 years | - | 1,000 |
Longer than 5 years | - | - |
Encumbered assets without a maturity | 144,691 | 118,153 |
Balance sheet value as at 31 December | 332,493 | 265,796 |
Accounting policy
Loans and advances to banks are financial instruments initially measured at fair value including any incremental direct transaction costs. The loans and advances to banks are held to collect the contractual cash flows and meet the SPPI criteria. Therefore, subsequent measurement is at amortised cost, using the effective interest method in accordance with the Financial instruments paragraph in the accounting principles on page Financial instruments .