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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/15/24 Inter-American Development Bank QRTLYRPT 12/31/23 1:245K Donnelley … Solutions/FA |
Document/Exhibit Description Pages Size 1: QRTLYRPT Quarterly Report by an International Development HTML 207K Bank
QRTLYRPT |
File No. 83-1
Regulation IA
Rule 2 (a)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
100 F Street, NE
Washington, D.C. 20549
PERIODIC REPORT
The following information is filed in accordance with Regulation IA, Rule 2(a), adopted pursuant to Section 11(a) of the Inter-American Development Bank Act.
For the fiscal quarter ended December 31, 2023
INTER-AMERICAN DEVELOPMENT BANK (the “Bank”)
(1) | Information as to any purchases or sales by the Bank of its primary obligations during such quarter. There were no purchases by the Bank of its primary obligations. |
Attached hereto as Annex A is a table which lists sales by the Bank of its primary obligations, all of which were of the Bank’s ordinary capital.
(2) | Copies of the Bank’s regular quarterly financial statements. |
Attached hereto as Annex B are the financial statements, as of December 31, 2023, of the Bank’s ordinary capital.
(3) | Copies of any material modifications or amendments during such quarter of any exhibit (other than (i) constituent documents defining the rights of holders of securities of other issuers guaranteed by the Bank, and (ii) loans and guaranty agreements to which the Bank is a party) previously filed with the Commission under any statute. |
Not applicable: there have been no modifications or amendments of any exhibits previously filed with the Commission.
Annex A
Sales by the Inter-American Development Bank
of its Ordinary Capital Primary Obligations
Borrowing Currency |
Borrowing Amount |
Coupon (%) |
Issue Price (%) |
Issue Date |
Maturity Date | |||||
AUD |
300,000,000 | 4.70 | 99.764 | 3-Oct-2023 | 3-Oct-2030 | |||||
USD |
500,000,000 | Floating Rate | 100.00 | 5-Oct-2023 | 5-Oct-2028 | |||||
INR |
30,000,000,000 | 7.35 | 100.00 | 6-Oct-2023 | 6-Oct-2030 | |||||
CAD |
500,000,000 | 4.60 | 99.99 | 12-Oct-2023 | 1-March-2029 | |||||
GBP |
300,000,000 | 4.75 | 99.759 | 2-Nov-2023 | 5-Oct-2029 | |||||
USD |
30,000,000 | 4.70 | 100.00 | 9-Nov-2023 | 9-Nov-2028 | |||||
USD |
100,000,000 | Floating Rate | 99.498 | 13-Nov-2023 | 15-Feb-2029 | |||||
USD |
30,000,000 | Zero Coupon Multi-Callable |
100.00 | 16-Nov-2023 | 16-Nov-2043 | |||||
USD |
50,000,000 | Callable 5.125 | 100.00 | 17-Nov-2023 | 17-Nov-2026 | |||||
HKD |
200,000,000 | 4.28 | 100.00 | 21-Nov-2023 | 23-Dec-2024 | |||||
USD |
200,000,000 | Floating Rate | 99.9310 | 21-Nov-2023 | 4-Oct-2027 | |||||
USD |
200,000,000 | Floating Rate | 99.507 | 29-Nov-2023 | 15-Feb-2029 | |||||
NOK |
1,500,000,000 | 3.77 | 99.109 | 1-Dec-2023 | 17-Nov-2027 | |||||
HKD |
340,000,000 | 4.26 | 100.00 | 5-Dec-2023 | 24-Jan-2025 | |||||
USD |
100,000,000 | Floating Rate | 99.553 | 6-Dec-2023 | 15-Feb-2029 | |||||
USD |
200,000,000 | Floating Rate | 100.0177 | 7-Dec-2023 | 4-Oct-2027 | |||||
USD |
1,500,000,000 | 4.375 | 99.915 | 12-Dec-2023 | 1-Feb-2027 | |||||
NOK |
1,000,000,000 | 3.84 | 100.00 | 13-Dec-2023 | 13-Dec-2028 | |||||
USD |
50,000,000 | 4.35 | 100.00 | 18-Dec-2023 | 18-Dec-2028 |
|
INTER-AMERICAN DEVELOPMENT BANK
Monthly Financial Statements |
Ordinary Capital
Balance Sheet - As of December 31, 2023
(Expressed in thousands of United States dollars)
Assets |
||||||||||||
Cash |
$ | 996,447 | ||||||||||
Investments |
31,715,307 | |||||||||||
Trading |
||||||||||||
Obligations issued or guaranteed by governments or issued by U.S. Agencies |
19,844,404 | |||||||||||
Time deposits and other obligations of banks |
10,081,485 | |||||||||||
Asset-and mortgage-backed and corporate securities |
1,562,087 | |||||||||||
Accrued interest on investments |
227,331 | |||||||||||
|
|
|||||||||||
Developmental Assets |
116,248,100 | |||||||||||
Loans outstanding |
116,166,511 | |||||||||||
Allowance for loan losses |
(800,509) | |||||||||||
Deferred loan origination fees and cost |
71,542 | |||||||||||
|
|
|||||||||||
115,437,544 | ||||||||||||
Debt securities |
||||||||||||
Measured at fair value |
104,174 | |||||||||||
Measured at amortized cost |
732,190 | |||||||||||
Allowance for debt securities |
(25,808) | |||||||||||
|
|
|||||||||||
810,556 | ||||||||||||
Derivative assets, net |
150,268 | |||||||||||
Accrued interest and other charges |
||||||||||||
On loans |
1,394,773 | |||||||||||
Others |
11,868 | 1,406,641 | ||||||||||
|
|
|||||||||||
Other Assets |
||||||||||||
Property, improvements and equipment, at cost |
1,115,928 | |||||||||||
Less accumulated depreciation & amortization |
(672,084) | |||||||||||
|
|
|||||||||||
443,844 | ||||||||||||
Receivable for investment securities sold |
170,581 | |||||||||||
Assets under retirement benefit plans |
219,161 | |||||||||||
Miscellaneous |
668,225 | 1,501,811 | ||||||||||
|
|
|
|
|||||||||
Total assets |
$ | 152,018,574 | ||||||||||
|
|
Page 1 of 5
|
INTER-AMERICAN DEVELOPMENT BANK
Monthly Financial Statements |
Ordinary Capital
Balance Sheet - As of December 31, 2023
(Expressed in thousands of United States dollars)
Liabilities and Equity |
||||||||||||
Liabilities |
||||||||||||
Borrowings |
$ | 108,299,778 | ||||||||||
Short term borrowings |
2,194,917 | |||||||||||
Medium-and long-term borrowings: |
106,104,861 | |||||||||||
Measured at fair value |
81,081,558 | |||||||||||
Measured at amortized cost |
25,023,303 | |||||||||||
|
|
|||||||||||
Derivative liabilities, net |
3,345,811 | |||||||||||
Amounts payable to maintain value of currency holdings |
127 | |||||||||||
Other liabilities |
||||||||||||
Payable for investment securities purchased |
177,532 | |||||||||||
Due to IDB Grant Facility |
140,566 | |||||||||||
Accrued interest on borrowings at amortized cost |
219,599 | |||||||||||
Undisbursed Special programs |
213,547 | |||||||||||
Other liabilities |
775,797 | 1,527,041 | ||||||||||
|
|
|
|
|||||||||
Total liabilities |
113,172,757 | |||||||||||
|
|
|||||||||||
Equity |
||||||||||||
Capital stock |
||||||||||||
Subscribed - 14,170,108 shares |
170,940,140 | |||||||||||
Less callable portion |
(164,900,691) | |||||||||||
Additional paid-in Capital (APIC) |
5,814,982 | 11,854,431 | ||||||||||
|
|
|||||||||||
Receivable from members |
||||||||||||
Non-negotiable, non-interest bearing demand obligations |
(494,095) | |||||||||||
Non-negotiable, non-interest bearing term obligations |
(216,972) | |||||||||||
Amounts required to maintain value of currency holdings |
(102,172) | (813,239) | ||||||||||
|
|
|||||||||||
General reserve |
23,911,554 | |||||||||||
Special reserve |
2,665,500 | |||||||||||
Accumulated other comprehensive income |
||||||||||||
Accumulated translation adjustments |
911,066 | |||||||||||
Accumulated SFAS 158 adjustments |
344,228 | |||||||||||
Net fair value adjustments on borrowings attributable to changes in instrument-specific credit risk |
(27,723) | 1,227,571 | ||||||||||
|
|
|||||||||||
Total equity |
38,845,817 | |||||||||||
|
|
|||||||||||
Total liabilities and equity |
$ | 152,018,574 | ||||||||||
|
|
Page 2 of 5
|
INTER-AMERICAN DEVELOPMENT BANK
Monthly Financial Statements |
Ordinary Capital
Statement of Income (Loss) and General Reserve
For the Period Ended December 31, 2023
(Expressed in thousands of United States dollars)
Month | Year-to-Date | |||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||
Income |
||||||||||||||||
From loans |
||||||||||||||||
- Interest, after swaps |
$ | 615,881 | $ | 463,435 | $ | 6,386,342 | $ | 3,423,024 | ||||||||
- Credit commissions |
8,641 | 7,596 | 98,909 | 91,696 | ||||||||||||
- Fees from non-sovereign-guaranteed and emergency lending |
790 | 3,903 | 18,564 | 15,338 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
625,312 | 474,934 | 6,503,815 | 3,530,058 | |||||||||||||
From investments, after swaps |
||||||||||||||||
- Interest |
171,489 | 117,066 | 1,865,924 | 708,233 | ||||||||||||
- Net gain (loss) |
5,187 | 28,600 | 20,500 | (126,100) | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
176,676 | 145,666 | 1,886,424 | 582,133 | |||||||||||||
Other interest income (loss) |
(24,621) | (9,694) | (203,256) | 39,400 | ||||||||||||
From other sources |
(31,890) | (29,436) | 72,128 | 42,960 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total income |
745,477 | 581,470 | 8,259,111 | 4,194,551 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Expenses |
||||||||||||||||
Borrowing expenses |
546,275 | 416,385 | 6,040,867 | 2,378,877 | ||||||||||||
Administrative expenses |
96,616 | 125,517 | 840,940 | 963,031 | ||||||||||||
Special programs |
18,186 | 22,598 | 109,877 | 108,880 | ||||||||||||
Provision for developmental assets losses |
(51,078) | 358,377 | 60,627 | 425,926 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total expenses |
609,999 | 922,877 | 7,052,311 | 3,876,714 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Operating Income |
135,478 | (341,407) | 1,206,800 | 317,837 | ||||||||||||
Net fair value adjustments on non-trading portfolios and foreign currency transactions |
(79,340) | 207,139 | (101,158) | 1,278,871 | ||||||||||||
Board of Governors approved transfers |
- | - | (139,929) | (171,803) | ||||||||||||
Other components of net periodic benefit costs |
17,740 | 1,464 | 212,875 | 17,570 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net income (loss) |
73,878 | (132,804) | 1,178,588 | 1,442,475 | ||||||||||||
General reserve, beginning of period |
23,837,676 | 22,937,769 | 22,804,966 | 21,512,490 | ||||||||||||
Distributions on behalf of shareholders |
- | - | (72,000) | (150,000) | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
General reserve, end of period |
$ | 23,911,554 | $ | 22,804,965 | $ | 23,911,554 | $ | 22,804,965 | ||||||||
|
|
|
|
|
|
|
|
Page 3 of 5
|
INTER-AMERICAN DEVELOPMENT BANK
Monthly Financial Statements |
Ordinary Capital
Statement of Comprehensive Income
For the Period Ended December 31, 2023
(Expressed in thousands of United States dollars)
Month | Year-to-Date | |||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||
Net income (loss) |
$ | 73,878 | $ | (132,804) | $ | 1,178,588 | $ | 1,442,475 | ||||||||
Other comprehensive income (loss): |
||||||||||||||||
Reclassification to income - amortization of net actuarial losses and prior service credit on retirement benefits plans |
(4,593) | 6,450 | (55,108) | 77,408 | ||||||||||||
Recognition of changes in assets/liabilities under retirement benefits plans |
(109,021) | 1,101,271 | (109,021) | 1,101,271 | ||||||||||||
Net fair value adjustments on borrowings attributable to changes in instrument-specific credit risk |
137,516 | 157,849 | 23,095 | 332,966 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total other comprehensive income (loss) |
23,902 | 1,265,570 | (141,034) | 1,511,645 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Comprehensive income |
$ | 97,780 | $ | 1,132,766 | $ | 1,037,554 | $ | 2,954,120 | ||||||||
|
|
|
|
|
|
|
|
Page 4 of 5
|
INTER-AMERICAN DEVELOPMENT BANK
Monthly Financial Statements |
Ordinary Capital
Statement of Cash Flows
For the Period Ended December 31, 2023
(Expressed in thousands of United States dollars)
|
||||||||
2023 | 2022 | |||||||
Cash flows from lending and investing activities |
||||||||
Loan disbursements |
(11,011,933) | (11,652,722) | ||||||
Loan collections |
8,161,236 | 6,956,897 | ||||||
Purchase of debt securities |
(75,000) | (324,940) | ||||||
Collection of debt securities |
35,482 | 15,830 | ||||||
|
|
|
|
|||||
Net cash used in developmental activities |
(2,890,215) | (5,004,935) | ||||||
Purchase of property, net |
(46,275) | (55,184) | ||||||
Miscellaneous assets and liabilities, net |
28,133 | 119,151 | ||||||
|
|
|
|
|||||
Net cash used in lending and investing activities |
(2,908,357) | (4,940,968) | ||||||
|
|
|
|
|||||
Cash flows from financing activities |
||||||||
Medium- and long- term borrowings: |
||||||||
Proceeds from issuance |
18,818,436 | 16,988,858 | ||||||
Repayments |
(18,513,565) | (19,453,822) | ||||||
Short term borrowings, net |
||||||||
Proceeds from issuance |
17,196,847 | 5,531,418 | ||||||
Repayments |
(15,998,808) | (5,602,423) | ||||||
Cash collateral returned |
(147,090) | (270,002) | ||||||
Collections of capital subscriptions |
- | 195 | ||||||
Distributions paid on behalf of shareholders |
(76,911) | (148,555) | ||||||
|
|
|
|
|||||
Net cash provided by (used in) operating activities |
1,278,909 | (2,954,331) | ||||||
|
|
|
|
|||||
Cash flows from operating activities |
||||||||
Gross purchases of trading investments |
(38,501,850) | (51,359,348) | ||||||
Gross proceeds from sale or maturity of trading investments |
38,967,580 | 57,934,257 | ||||||
Loan income collections, after swaps |
6,137,192 | 2,903,018 | ||||||
Interest and other costs of borrowings, after swaps |
(5,648,945) | (1,177,649) | ||||||
Income from investments |
1,560,509 | 271,579 | ||||||
Other interest income |
(95,758) | 55,003 | ||||||
Other income |
76,155 | 46,669 | ||||||
Administrative expenses |
(785,852) | (787,656) | ||||||
Transfers to the IDB Grant Facility |
(159,195) | (138,140) | ||||||
Special programs |
(122,814) | (107,586) | ||||||
|
|
|
|
|||||
Net cash provided by operating activities |
1,427,022 | 7,640,147 | ||||||
|
|
|
|
|||||
Effect of exchange rate fluctuations on Cash |
(6,086) | (30,377) | ||||||
|
|
|
|
|||||
Net decrease in cash |
(208,512) | (285,529) | ||||||
Cash, beginning of period |
1,204,959 | 1,490,488 | ||||||
|
|
|
|
|||||
Cash, end of period |
996,447 | 1,204,959 | ||||||
|
|
|
|
|||||
Reconciliation of Net income to net cash used in operating activities: |
||||||||
Net income |
1,178,588 | 1,442,475 | ||||||
Difference between amounts accrued and amounts paid or collected for: |
||||||||
Loan income |
(366,660) | (627,040) | ||||||
Income from investments |
(388,015) | (383,954) | ||||||
Other interest income |
107,498 | 15,603 | ||||||
Other income |
4,027 | 3,709 | ||||||
Interest and other costs of borrowings, after swaps |
391,922 | 1,201,228 | ||||||
Administrative expenses, including depreciation |
55,125 | 175,375 | ||||||
Special programs |
(12,937) | 1,294 | ||||||
Transfers to the IDB Grant Facility |
(19,266) | 33,663 | ||||||
Net fair value adjustments on non-trading portfolios and foreign currency transactions |
101,158 | (1,278,871) | ||||||
Net unrealized (gain) loss on trading investments |
62,100 | 73,400 | ||||||
Other components of net periodic benefit cost |
(212,875) | (17,570) | ||||||
Net increase (decrease) in trading investments |
465,730 | 6,574,909 | ||||||
Provision for developmental assets losses |
60,627 | 425,926 | ||||||
|
|
|
|
|||||
Net cash provided by operating activities |
1,427,022 | 7,640,147 | ||||||
|
|
|
|
|||||
Supplemental disclosure of noncash activities |
||||||||
Increase (decrease) resulted from exchange rate fluctuations: |
||||||||
Trading investments and related swaps |
43,654 | (1,398) | ||||||
Loans outstanding and related swaps |
120,455 | (7,080) | ||||||
Debt securities |
126,439 | (47,492) | ||||||
Borrowings and related swaps |
260,351 | (29,688) | ||||||
Receivable from members, net |
(6,979) | 17,541 |
Page 5 of 5
This ‘QRTLYRPT’ Filing | Date | Other Filings | ||
---|---|---|---|---|
Filed on: | 2/15/24 | None on these Dates | ||
For Period end: | 12/31/23 | |||
List all Filings |