42.3 Contingent liabilities and commitments
The table below shows the Group’s contingent liabilities and commitments. Commitments are shown below based on the remaining period to contractual expiry date as at the balance sheet date:
Less than 1 to 3
3 to 5 Over In millions
1 year years
years 5 years Total
2014 Guarantees, endorsements and other contingent liabilities
22,231 –
– –
22,231
Undrawn loan commitments
a
and other facilities 166,719
8,345 9,637
2,775 187,476
Operating lease commitments 207
308 158
56 729
Capital commitments 22
– –
– 22
Total 189,179
8,653 9,795
2,831 210,458
2013 Guarantees, endorsements and other contingent liabilities
20,919 –
– –
20,919 Undrawn loan commitments
a
and other facilities 139,109
8,261 8,037
2,642 158,049
Operating lease commitments 184
277 244
67 772
Capital commitments 18
– –
– 18
Total 160,230
8,538 8,281
2,709 179,758
a Undrawn loan commitments are recognised at activation stage and include commitments that are unconditionally cancellable at any time by the Group
The Group expects that not all of the contingent liabilities and undrawn loan commitments will be drawn before expiry.
43 CAPITAL MANAGEMENT
The capital management and planning process is overseen by the Capital Committee which is chaired by the Chief Financial Officer. Quarterly updates on the Group’s capital position are provided to the Board of Directors, who hold ultimate responsibility for the Group’s
capital management objective and capital structure. The Group’s capital management objective is to maintain a strong capital position consistent with regulatory requirements and the expectations of customers, investors and rating agencies. This objective is pursued while
ensuring that adequate returns are delivered to shareholders and there is adequate capital for business growth, investment opportunities and meeting contingencies.
The Group is subject to the capital adequacy requirements set out in the Monetary Authority of Singapore’s Notice to Banks No. 637 Notice on Risk Based Capital Adequacy Requirements for Banks incorporated in Singapore, which effects the Basel Committee on Banking
Supervision’s capital adequacy framework in Singapore. The Group has complied with all externally-imposed capital requirements whether prescribed by regulation or by contract throughout the financial year unaudited.
44 SEGMENT REPORTING
44.1 Business segment reporting
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