b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2021 (Continued)Thecategoryconcerningfinancialassetsatfair Financial assets designated at fair value through valuethroughOCIwithrecyclingofcumulative OCI (equity instruments)gains and losses upon derecognition is not applicablefortheGroup. Uponinitialrecognition,theGroupcanelecttoclassifyirrevocablyitsequityinstrumentsasFinancial assets at amortized cost (debtinvestmentasequityinstrumentsdesignatedatfairinstruments)valuethroughOCIwhentheymeetthedefinitionThiscategoryisthemostrelevanttotheGroup. ofequityunderIAS32FinancialInstruments:TheGroupmeasuresfinancialassetsatamortized Presentationandarenotheldfortrading.Thecostifbothofthefollowingconditionsaremet: classificationisdeterminedonaninstrument-by-instrumentbasis.Thefinancialassetisheldwithinabusiness Gainsandlossesonthesefinancialassetsaremodelwiththeobjectivetoholdfinancialassets neverrecycledtoprofitorloss.Dividendsareinordertocollectcontractualcashflows. recognizedasotherincomeintheconsolidatedThecontractualtermsofthefinancialassetgive statementofprofitorlosswhentherightof paymenthasbeenestablished,exceptwhentheriseonspecifieddatestocashflowsthatare Groupbenefitsfromtheproceedsasarecoverysolely payments of principal and interest on theofpartofthecostofthefinancialasset,inwhichprincipal amount outstanding. casesuchgainsarerecordedinOCI.EquityFinancialassetsatamortizedcostare instrumentsdesignatedatfairvaluethroughOCIsubsequentlymeasuredusingtheEIRmethod arenotsubjecttoimpairmentassessment.andaresubjecttoimpairment.Gainsandlosses TheGroupelectedtoclassifyirrecoverablyitsarerecognizedinprofitorlosswhentheassetis investmentinlocallylistedequitysecuritiesunderderecognized,modifiedorimpaired. this category. TheGroupsfinancialassetsatamortizedcost Derecognitionincludetradereceivables,cashandshort-termdeposits including restricted cash and loanAfinancialasset(or,whereapplicable,apartofareceivablesfromtheGovernmentofSuriname. financialassetorpartofagroupofsimilarfinancialFinancial assets at fair value through profit or loss assets)isprimarilyderecognized(i.e.,removedfromtheGroupsconsolidatedstatementofFinancialassetsatfairvaluethroughprofitor financialposition)when:lossincludefinancialassetsheldfortrading, Therightstoreceivecashflowsfromtheassetfinancialassetsdesignateduponinitialrecognition atfairvaluethroughprofitorloss,orfinancial haveexpired;assetsmandatorilyrequiredtobemeasuredOr atfairvalue.Financialassetsareclassifiedasheldfortradingiftheyareacquiredforthe TheGrouphastransferreditsrightstoreceivepurpose of selling or repurchasing in the nearcashflowsfromtheassetorhasassumedanterm.Derivatives,includingseparatedembedded obligationtopaythereceivedcashflowsinfullderivatives,arealsoclassifiedasheldfortrading without material delay to a third party under a unlesstheyaredesignatedaseffectivehedging pass-througharrangement;andeither(a)theinstruments.Financialassetswithcashflows Grouphastransferredsubstantiallyalltherisksthat are not solely payments of principal andandrewardsoftheasset,or(b)theGrouphasinterestareclassifiedandmeasuredatfair neithertransferrednorretainedsubstantiallyvaluethroughprofitorloss,irrespectiveofthe alltherisksandrewardsoftheasset,buthasbusinessmodel.Notwithstandingthecriteriafor transferred control of the asset.debtinstrumentstobeclassifiedatamortizedcostoratfairvaluethroughOCI,asdescribed WhentheGrouphastransferreditsrightstoabove,debtinstrumentsmaybedesignatedatfair receivecashflowsfromanassetorhasenteredvaluethroughprofitorlossoninitialrecognitionif intoapass-througharrangement,itevaluatesdoingsoeliminates,orsignificantlyreduces,an if,andtowhatextent,ithasretainedtherisksaccounting mismatch.andrewardsofownership.WhenithasneithertransferrednorretainedsubstantiallyalltherisksFinancialassetsatfairvaluethroughprofitor andrewardsoftheasset,nortransferredcontrolloss are carried in the consolidated statement ofoftheasset,theGroupcontinuestorecognizethefinancialpositionatfairvaluewithnetchangesin transferred asset to the extent of its continuing fairvaluerecognizedintheconsolidatedstatement involvement.Inthatcase,theGroupalsoofprofitorloss. recognizesanassociatedliability.Thetransferred86 STAATSOLIE 2021 ANNUAL REPORT'