BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2021 108 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2021 (Expressed in Barbados dollars) 83 25.2 Credit risk, continued Credit Quality Analysis, continued IFRS 9 – 2020 Stage 1 Stage 2 POCI Total Sovereign debt securities measured at amortized cost Standards & Poor’s rating: B- Government of Barbados – series B & D bonds *** $ - - 17,303,371 17,303,371 Not rated Barbados Port Inc. 5,050,761 - - 5,050,761 Gross sovereign debt securities 5,050,761 - 17,303,371 22,354,132 Expected credit losses allowance (36,101) - (351,758) (387,859) Net sovereign debt securities 5,014,660 - 16,951,613 21,966,273 Interest receivable 58,250 $ 22,024,523 *** During the financial year ended March 31, 2020, the credit rating of the Government of Barbados series B & D bonds as per Standards and Poor’s was B-. BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2021 (Expressed in Barbados dollars) 25. Financial Risk Management, continued 25.2 Credit risk, continued Credit Quality Analysis, continued IFRS 9 – 2020 Stage 1 Stage 2 Stage 3 Total Term deposits measured at amortized cost Internally rated $ 16,927,619 7,090,288 - 24,017,907 Gross term deposits 16,927,619 7,090,288 - 24,017,907 Expected credit losses allowance (19,111) (49,272) - (68,383) Net term deposits $ 16,908,508 7,041,016 - 23,949,524
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