The SEC also maintains a website at www.sec.gov that contains reports, proxy statements and other information regarding  registrants that file electronically with the SEC. Our annual report and some of the other information submitted by us to the SEC may  be accessed through this web site.  Not applicable. Market risk is the risk of loss related to adverse changes in market prices, including interest rates and foreign exchange  rates, of financial instruments. In the normal course of business, we are routinely subject to a variety of risks, including market risk  associated with interest rate movements, currency rate movements on non-NT dollar denominated assets and liabilities and equity  price movements on our portfolio of equity securities.  We regularly assess these financial instruments and their ability to address market risk and have established policies and  business practices to protect against the adverse effects of these and other potential exposures.  We do not expect interest rate risk to have a material impact on our financial condition and results of operations. As of  December 31, 2011, our subsidiaries had the following loans: (i) Light Era Development Co., Ltd., has long-term loan in the amount  of NT$1.65 billion(US$54.5 million), which have interest rate at 1.10% and will be due in 2015 , (ii) Chief Telecom has short-term  unsecured loans in the amount of NT$70 million (US$2.3 million), which have interest rates at 1.25% and are due in 2012, and long- term unsecured loan in the amount of NT$0.11 billion (US$3.6 million), which have interest rate ranging from 2.01% to 2.04% and  are due in 2013. (iii) CHPT has short-term unsecured loans in the amount of NT$ 5 million (US$ 0.17 million), which has interest  rates at 1.53% and is due in 2012, and long-term secured loans in the amount of NT$1.42 million (US$0.05 million), which have  interest rates at 1.83% and are due in 2012. For our non-fixed interest rate loans, the interest rates will change in accordance with the fixed rates of the banks we  borrowed from. Assuming an increase or decrease of 1% in the interest rates of our non-fixed interest rate loans, our interest  payments in 2011 would have increased or decreased by NT$18 million (US$0.59 million). We have not used any derivative financial  instruments to hedge interest rate risk. We have not been exposed nor do we anticipate being exposed to material risks due to changes  in interest rates. We anticipate that our cash, cash equivalents and cashflow from operations will be sufficient to fund our working  capital needs and capital expenditure plans for the foreseeable future. As of December 31, 2011, our cash and cash equivalents  amounted to NT$67.4 billion (US$ 2.2 billion). The risk associated with fluctuating interest rates is principally confined to our  cash deposits in banks, which is one of the many ways we manage our capital, and interest income accounts for only a very small  percentage of our total revenue. Therefore, we believe our exposure to interest rate risk is immaterial.  We are exposed to foreign currency risk as a result of (i) our foreign currency and derivative trading activities; (ii) our  telecommunications equipment being sourced from overseas suppliers; (iii) our international settlement payments associated with our  services for international calls and roaming traffic; and (iv) mutual funds denominated in foreign currencies.  We entered into currency swap and forward exchange contracts to reduce our exposure to foreign currency risk due to  fluctuations in exchange rates. Outstanding currency swap and forward exchange contracts on December 31, 2011 were as follows:  I. Subsidiary Information ITEM 11.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK  Interest Rate Risk Foreign Currency Risk P AR T I FX instrument Currencies involved Maturity Period Contract Amount Currency swap contracts US$/NT$ 2012.01-2012.03 US$43 million/NT$1,307 million Currency swap contracts US$/NT$ 2012.01-2012.02 US$19 million/NT$571 million Forward exchange contracts-Buy NT$/US$ 2012.01 NT$60 million/US$2 million 121