The balance represents the contractual amount outstanding, deliverable or available at the given date as agreed in the terms of the financial product. The balance is sometimes referred to as the face value or par value of the product.

More precisely, from an IFRS 9 accounting point of view, the balance is equivalent to the gross carrying amount which is the carrying amount including accrued interest but before impairment and any hedge accounting has been taken into consideration in accordance with Appendix A:

The amortised cost of a financial asset, before adjusting for any loss allowance.

This is a monetary type and as it is impossible to squeeze infinitely many Real numbers into a finite number of bits, we represent monetary types as integer numbers of cents/pence to reduce potential rounding errors. So $10.35 becomes 1035. Don’t forget to divide by 100 (or the relevant minor unit denomination) when presenting information to a user. The relevant minor unit denomination should be determined from the currency’s corresponding ‘E’ value.