TMBThanachart Bank Public Company Limited and its Subsidiaries (Formerly TMB Bank Public Company Limited and its Subsidiaries) Notes to the financial statements For the year ended 31 December 2021 61 The Bank and its subsidiaries recognise transfers between levels of the fair value hierarchy as of the end of the reporting period during which the transfer has occurred. There were no transfers between Level 1 and Level 2 of the fair value hierarchy during the year ended 31 December 2021 and 2020. Fair value measurements using significant unobservable inputs (level 3) Investments in debt instruments measured at FVOCI During the year ended 31 December 2020, due to changes in market conditions and default status, the quoted yield rate in respect of an investment in debentures of one counterparty was no longer reliable. There was also limited information to measure the fair value with other valuation techniques. Management applied judgement to compare the estimated recovery for fair value measurement including consideration of recovery estimate provided by ThaiBMA. These securities, with a carrying amount of Baht 315 million, were included as Level 3 hierarchy as at 31 December 2021 (2020: Baht 1.6 billion). Investments in equity instruments measured at FVOCI Consolidated Bank only 2021 (in million Baht) Beginning balance 607 459 Purchased 1,605 1,605 Disposal during the year (57) (56) Acquisition through Entire Business Transfer - 164 Gain recognised in other comprehensive income 538 521 Ending balance 2,693 2,693 305 Form 56-1 One Report 2021
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