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ERDEMİR GRUBU
2014 ANNUAL REPORT
EREĞLİ DEMİR VE ÇELİK FABRİKALARI T.A.Ş AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
(Amounts are expressed as Turkish Lira (“TRY Thousand”) unless otherwise indicated.)
(Convenience Translation into English of Consolidated Financial Statements Originally Issued in Turkish - See Note 34)
NOTE 30 - NATURE AND LEVEL OF RISKS DERIVED FROM FINANCIAL INSTRUMENTS (cont’d)
Additional information about financial instruments (cont’d)
(g) Liquidity risk management
Ultimate responsibility for liquidity risk management rests with the Board of Directors, which has built an appropriate liquidity risk
management framework for the management of the Group’s short, medium and long-term funding and liquidity management
requirements. The Group manages liquidity risk by continuously monitoring forecasted and actual cash flows and matching the
maturity profiles of financial assets and liabilities and maintaining adequate funds and reserves.
Liquidity risk tables
Conservative liquidity risk management includes maintaining sufficient cash, availability of sufficient amount of borrowings and funds
and ability to settle market positions.
The Group manages its funding of actual and forecasted financial obligations by maintaining the availability of sufficient number of high
quality loan providers.
The following table details the Group’s expected maturity for its derivative and non derivative financial liabilities. Interests which will be
paid on borrowings in the future are included in the relevant columns in the following table.