10 Interest Expense
|
June 30, 2023 |
June 30, 2022 |
|
|
Interest on debentures and notes hedged |
-46,978 |
-29,863 |
|
Interest on debentures and notes not hedged |
-28,811 |
-25,553 |
|
Interest on short-term credits |
- |
-400 |
|
Interest expenses related to banks (assets)¹ |
- |
-1,891 |
|
Total interest expense from financial instruments measured at AC |
-75,789 |
-57,707 |
|
Interest on derivatives related to funding portfolio |
-67,790 |
34,327 |
|
Total interest expense from financial instruments measured at FVPL |
-67,790 |
34,327 |
|
Interest on leases |
-66 |
-73 |
|
Total interest expense |
-143,645 |
-23,453 |
Interest expense increased due to increases in the reference rates on FMO's variable rate funding portfolio.
1 Interest expense is related to Cash and balances held at Central bank. Overnight deposits rates at central banks were negative in the Eurozone, implying interest expense on assets.