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2015

RCS GROUP CONSOLIDATED FINANCIAL STATEMENTS

47

30.

Risk management (continued)

Liquidity risk (continued)

This risk is managed through cash flow forecasts, stress testing scenarios on cash flow, the optimisation of daily cash management and by

ensuring that adequate borrowing facilities are maintained. The objective is to have positive liability to asset termmatching with liabilities

carrying longer terms than the underlying book assets. The RCS Group has shareholder facilities in place to mitigate the roll over risk of

funding in issue. The RCS Groupmonitors and evaluates all financial covenants on a monthly basis to ensure that the RCS Group can oblige

to its commitments made to borrowers. In terms of the articles of association, the group’s borrowing powers are unlimited.

The RCS Group has available unutilised bank facilities to the value of R427.6 million (31 March 2015: R684.7 million) and has

a shareholder facility of R1.5 billion (31 March 2015: R1.5 billion) at the end of the financial period.

Liability cash flows are presented on an undiscounted basis.

Contractual maturities

The table belowanalyses liabilities of theRCSGroup into relevantmaturity groupings based on the remaining period at reporting date to the

contractual maturity date, including interest:

Carrying Demand to One to three Three months

More than

amount

one month

months

to one year

one year

Total

R’000

R’000

R’000

R’000

R’000

R’000

31 December 2015

Liabilities

Non-derivative financial liabilities

Funding

(4 082 400)

(32 728)

(441 643)

(1 385 938)

(2 676 683)

(4 536 992)

Trade and other payables

(438 739)

(189 114)

(100 731)

(148 894)

(438 739)

(4 521 139)

(221 842)

(441 643)

(1 486 669)

(2 825 577)

(4 975 731)

31 March 2015

Liabilities

Non-derivative financial liabilities

Funding

(3 770 300)

(135 415)

(493 789)

(958 394)

(2 611 065)

(4 198 663)

Trade and other payables (328 511)

(133 870)

(72 026)

(21 914)

(100 701)

(328 511)

(4 098 811)

(269 285)

(565 815)

(980 308)

(2 711 766)

(4 527 174)

Derivative financial liabilities

Interest rate swaps

(27)

(27)

(27)

(27)

(27)

(27)

(4 098 838)

(269 285)

(565 842)

(980 308)

(2 711 766)

(4 527 201)

NotestotheConsolidatedFinancialStatements

(continued)

for the period ended 31 December 2015