b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2019 (Continued)businessmodel.Notwithstandingthecriteriafor neither transferred nor retained substantially debtinstrumentstobeclassifiedatamortized alltherisksandrewardsoftheasset,buthascostoratfairvaluethroughOCI,asdescribed transferred control of the asset.above,debtinstrumentsmaybedesignatedatfairvaluethroughprofitorlossoninitialrecognitionif WhentheGrouphastransferreditsrightstodoingsoeliminates,orsignificantlyreduces,an receivecashflowsfromanassetorhasenteredaccounting mismatch.intoapass-througharrangement,itevaluatesif,andtowhatextent,ithasretainedtherisksFinancialassetsatfairvaluethroughprofitor andrewardsofownership.Whenithasneitherloss are carried in the consolidated statement oftransferred nor retained substantially all the risks financialpositionatfairvaluewithnetchangesin andrewardsoftheasset,nortransferredcontrolfairvaluerecognizedintheconsolidatedstatement oftheasset,theGroupcontinuestorecognizetheofprofitorloss. transferred asset to the extent of its continuing involvement.Inthatcase,theGroupalsoFinancial assets designated at fair value throughrecognizesanassociatedliability.ThetransferredOCI (equity instruments) asset and the associated liability are measured on Uponinitialrecognition,theGroupcanelect abasisthatreflectstherightsandobligationsthattoclassifyirrevocablyitsequityinstrumentsas the Group has retained. investmentasequityinstrumentsdesignatedatfair ContinuinginvolvementthattakestheformofavaluethroughOCIwhentheymeetthedefinition guaranteeoverthetransferredassetismeasuredofequityunderIAS32FinancialInstruments: attheloweroftheoriginalcarryingamountofthePresentationandarenotheldfortrading.The asset and the maximum amount of consideration classificationisdeterminedonaninstrumentby thattheGroupcouldberequiredtorepay.instrument basis.Gainsandlossesonthesefinancialassetsare Impairment of financial assetsneverrecycledtoprofitorloss.Dividendsare Furtherdisclosuresifapplicableandrelatingtorecognizedasotherincomeintheconsolidated impairmentoffinancialassetsarediscussedinthestatementofprofitorlosswhentherightof respectivedisclosuresforsignificantassumptionspaymenthasbeenestablished,exceptwhenthe andtradereceivables,includingcontractassets.Groupbenefitsfromtheproceedsasarecoveryofpartofthecostofthefinancialasset,inwhich TheGrouprecognizesanallowanceforexpectedcasesuchgainsarerecordedinOCI.Equity creditlosses(ECLs)foralldebtinstrumentsnotinstrumentsdesignatedatfairvaluethroughOCI heldatfairvaluethroughprofitorloss.ECLsarearenotsubjecttoimpairmentassessment. basedonthedifferencebetweenthecontractualcashflowsdueinaccordancewiththecontractTheGroupelectedtoclassifyirrecoverablyits andallthecashflowsthattheGroupexpectstoinvestmentinlocallylistedequitysecuritiesunder receive,discountedatanapproximationofthethis category.originaleffectiveinterestrate.TheexpectedcashflowswillincludecashflowsfromthesaleofDerecognition collateral held or other credit enhancements that Afinancialasset(or,whereapplicable,apartofa are integral to the contractual terms. financialassetorpartofagroupofsimilarfinancial ECLsarerecognizedintwostages.Forcreditassets)isprimarilyderecognized(i.e.,removed exposuresforwhichtherehasnotbeenafromtheGroupsconsolidatedstatementof significantincreaseincreditrisksinceinitialfinancialposition)when: recognition,ECLsareprovidedforcreditlossesTherightstoreceivecashflowsfromtheasset thatresultfromdefaulteventsthatarepossiblehaveexpired; withinthenext12-months(a12-monthECL).Forthosecreditexposuresforwhichtherehasbeen Orasignificantincreaseincreditrisksinceinitialrecognition,alossallowanceisrequiredforcreditTheGrouphastransferreditsrightstoreceive lossesexpectedovertheremaininglifeofthecashflowsfromtheassetorhasassumedan exposure,irrespectiveofthetimingofthedefaultobligationtopaythereceivedcashflowsinfull (alifetimeECL).withoutmaterialdelaytoathirdpartyundera Fortradereceivablesandcontractassets,thepass-througharrangement;andeither(a)the GroupappliesasimplifiedapproachincalculatingGroup has transferred substantially all the risksECLs.Therefore,theGroupdoesnottrackandrewardsoftheasset,or(b)theGrouphas51'