20. Categories of financial instruments The carrying amounts of financial assets and financial liabilities in each of the NZ IAS 39 categories are as follows: 2014 $000 2013 $000 Cash and cash equivalents 1,550 2,487 Short-term deposits 1,200 1,400 27 45 119 182 2,896 4,114 Creditors and other payables 298 440 GST payable 175 151 Finance lease 13 41 486 632 Loans and receivables measured at amortised cost Debtors and other receivables Prepayments Total loans and receivables measured at amortised cost Financial liabilities measured at amortised cost Total financial liabilities measured at amortised cost 21. Financial instrument risks The Commission manages risks associated with financial instruments and seeks to minimise its exposure to these risks. Legislation does not allow the Commission to enter into any transactions that are speculative in nature without the prior approval of the responsible Minister. The Commission’s activities expose it to the following financial instrument risks: Market risk Cash flow interest rate risk Cash flow interest rate risk is the risk that the cash flows from a financial instrument will fluctuate because of changes in market interest rates. Cash held in interest-bearing bank accounts and short-term deposits expose the Commission to cash flow interest rate risk. During the year the interest rates earned by the Commission on its cash reserves, deposited at New Zealand registered banks, ranged from 2.60% to 4.35%. Sensitivity analysis As at 30 June 2014, if these interest rates had been 1% higher or lower, with all other variables held constant, the result for the year would have been $44,000 (2013: $61,000) higher or lower. This movement is attributable to increased or decreased interest revenue on deposits. 92 Human Rights Commission