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## Note 38.1 

Credit risk continued 

Ageing analysis of assets past due but not impaired and impaired assets 

Past due but not impaired 

<img src='content_image/212980.jpg'>

A facility is considered to be past due when a contractual payment falls overdue by one or more days. When a facility is classified as past due, the entire facility balance after provisions is disclosed in the past due analysis. 

The factors taken into consideration by the Consolidated Entity when determining whether an asset is impaired are set out in note 1(xiv) – Summary of significant accounting policies. 

Of the collateral held against past due and impaired balances for loan assets held at amortised cost, $966 million (2013: $1,229 million) relates to collateral held against past due and impaired balances on residential mortgage facilities that are covered by mortgage insurance. A mortgage insurance claim will only be made in an instance where there is an outstanding balance on the mortgage facility after the receipt of proceeds on the disposal of the property held as security. The remaining collateral is made up of assets held as collateral against other loan and receivable balances. 

The collateral held against past due and impaired balances for other assets represents equity securities held as security against failed trade settlements. 

## Repossessed collateral 

In the event of customer default on facilities, the Consolidated Entity may take possession of real estate or other assets held as security. As at 31 March 2014, the Consolidated Entity has taken possession of fixed assets and property assets with a carrying value of $178 million (2013: $210 million). These assets are in the process of being sold. 

