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In 2005, deferred taxes were partly recognised directly in equity. Of the total amount, € 56 m
(2004: € 55 m) was debited to the available-for-sale reserve and € 29 m (2004: € 45 m)
was credited to the cash flow hedge reserve. In addition, as actuarial gains and losses on
pension and severance-payment obligations amounting to € 734 m (2004: € 244 m) were
not recognised in income, deferred tax assets of € 182 m (2004: € 61 m) were offset
against equity.
As a result of the acquisition of Banca Comerciala “Ion Tiriac” S.A., Bucharest, Romania,
foreign currency translation of deferred taxes and direct offsetting against reserves, part
of the change in deferred taxes was not reflected in the expense.
The assets include deferred tax assets arising from the carryforward of unused tax losses
in the amount of € 282 m (2004: € 315 m). Most of the tax losses carried forward can
be used without time restriction. In respect of tax losses carried forward in the amount
of € 650 m (2004: € 700 m), no deferred tax assets were recognised because, from a
current perspective, a tax benefit is unlikely to be realised within a reasonable period.
€ m 31 Dec. 2005
Cash and balances with central banks 598
Trading assets 223
Loans and advances to, and placements with, banks 171
Loans and advances to customers 1,913
– Loan loss provisions – 59
Investments 267
Property and equipment 32
Intangible assets 50
Other assets 26
TOTAL ASSETS 3,221
Amounts owed to banks – breakdown by product
€ m 2005 2004
Repayable on demand 6,069 2,797
With agreed maturity dates or periods of notice 38,210 37,130
Money market deposits by banks 25,333 23,620
Other amounts owed to banks 12,877 13,511
AMOUNTS OWED TO BANKS 44,279 39,927
Amounts owed to banks – breakdown by region
€ m 2005 2004
Austria 17,997 16,477
Abroad 26,282 23,450
Central and Eastern Europe 5,024 4,979
Other foreign countries 21,258 18,471
AMOUNTS OWED TO BANKS 44,279 39,927
136 Notes to the balance sheet
(20) Non-current assets
classified as held for sale
(21) Amounts owed to banks
and customers