This is the value, as at the relevant date, in relation to positions giving rise to foreign exchange risk, as determined in accordance with relevant prudential standards.This item represents the following:(a) the net spot position, i.e. all asset items less all liability items, including accrued interest and other accrued income and accrued expenses, denominated in the currency in question; (b) the net forward position, i.e. all amounts to be received less all amounts to be paid under forward foreign exchange transactions, including currency futures, the principal on currency swaps not included in the spot position, and interest rate transactions such as futures and swaps denominated in a foreign currency; This amount should represent the value of positions at current spot market exchange rates or using net present values;(c) guarantees (and similar instruments) that are certain to be called and likely to be irrecoverable; and (d) any other item representing a profit or loss in foreign currencies. For the purposes of this item:- include unearned but expected future interest and anticipated expenses if the amounts are certain and the reporting party has hedged them; and- exclude any structural positions, where permitted by the relevant prudential standards. 

For each foreign currency in which the ADI has positions, report separately the AUD equivalent of the net open position in that currency.
The net open position in a particular currency is to be calculated in accordance with APS 116. In calculating the net open position in each currency:
(a) include all transactions contracted as at the relevant date (i.e. both traded and non-traded positions) excluding any structural positions; and
(b) forward positions should be valued at current spot market exchange rates or using net present values.